MADDEN SECURITIES Corp Buys New Shares in Johnson & Johnson (NYSE:JNJ)

MADDEN SECURITIES Corp purchased a new position in shares of Johnson & Johnson (NYSE:JNJ) during the second quarter, HoldingsChannel reports. The firm purchased 6,710 shares of the company’s stock, valued at approximately $981,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Johnson & Johnson in the fourth quarter valued at approximately $4,071,642,000. Wellington Management Group LLP increased its holdings in Johnson & Johnson by 16.4% in the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after purchasing an additional 3,391,657 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Johnson & Johnson by 16.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock valued at $3,453,978,000 after purchasing an additional 3,139,499 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Johnson & Johnson by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,945,533 shares of the company’s stock worth $2,483,532,000 after acquiring an additional 241,799 shares during the period. Finally, California Public Employees Retirement System grew its holdings in Johnson & Johnson by 4.9% during the 4th quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock worth $1,664,620,000 after acquiring an additional 498,647 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

Shares of NYSE JNJ traded up $1.32 during mid-day trading on Thursday, reaching $160.22. 5,050,546 shares of the company were exchanged, compared to its average volume of 7,372,660. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $175.97. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $385.60 billion, a PE ratio of 9.99, a PEG ratio of 2.63 and a beta of 0.52. The company’s 50 day moving average price is $150.90 and its 200 day moving average price is $153.16.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The business had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. During the same period in the previous year, the firm posted $2.80 earnings per share. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. Sell-side analysts forecast that Johnson & Johnson will post 10.07 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Tuesday, August 27th. Johnson & Johnson’s payout ratio is 30.92%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on JNJ shares. TD Cowen cut their price objective on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their target price for the stock from $169.00 to $170.00 in a research report on Thursday, April 18th. Daiwa Capital Markets lowered shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday. Finally, Sanford C. Bernstein lifted their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $173.21.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.