Zullo Investment Group Inc. Has $2.93 Million Stake in Johnson & Johnson (NYSE:JNJ)

Zullo Investment Group Inc. lifted its holdings in Johnson & Johnson (NYSE:JNJGet Rating) by 1.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,491 shares of the company’s stock after acquiring an additional 285 shares during the period. Johnson & Johnson accounts for approximately 1.8% of Zullo Investment Group Inc.’s holdings, making the stock its 8th biggest holding. Zullo Investment Group Inc.’s holdings in Johnson & Johnson were worth $2,927,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in JNJ. Vanguard Group Inc. lifted its holdings in shares of Johnson & Johnson by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 238,141,110 shares of the company’s stock valued at $42,205,749,000 after acquiring an additional 3,358,478 shares during the last quarter. GQG Partners LLC lifted its holdings in shares of Johnson & Johnson by 64.4% in the 1st quarter. GQG Partners LLC now owns 6,501,761 shares of the company’s stock valued at $1,151,931,000 after acquiring an additional 2,547,378 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Johnson & Johnson by 37.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,653,610 shares of the company’s stock valued at $1,179,219,000 after acquiring an additional 1,805,632 shares during the last quarter. Swiss National Bank lifted its stake in Johnson & Johnson by 14.0% in the first quarter. Swiss National Bank now owns 11,402,516 shares of the company’s stock worth $2,020,868,000 after purchasing an additional 1,396,500 shares during the last quarter. Finally, Bridgewater Associates LP lifted its stake in Johnson & Johnson by 40.3% in the first quarter. Bridgewater Associates LP now owns 4,345,002 shares of the company’s stock worth $770,065,000 after purchasing an additional 1,247,260 shares during the last quarter. Institutional investors own 68.59% of the company’s stock.

Wall Street Analyst Weigh In

JNJ has been the subject of several analyst reports. Citigroup decreased their price objective on shares of Johnson & Johnson from $201.00 to $198.00 in a research note on Wednesday, October 5th. Morgan Stanley decreased their price objective on shares of Johnson & Johnson from $174.00 to $170.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 19th. Credit Suisse Group initiated coverage on shares of Johnson & Johnson in a research note on Thursday, November 17th. They issued a “neutral” rating and a $170.00 price objective for the company. Bank of America decreased their price objective on shares of Johnson & Johnson from $185.00 to $178.00 and set a “neutral” rating for the company in a research note on Friday, October 14th. Finally, Barclays started coverage on shares of Johnson & Johnson in a research report on Monday, October 17th. They set an “equal weight” rating and a $175.00 target price on the stock. Seven analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.33.

Insiders Place Their Bets

In other Johnson & Johnson news, CAO Robert J. Decker sold 16,928 shares of Johnson & Johnson stock in a transaction on Friday, November 18th. The shares were sold at an average price of $175.00, for a total value of $2,962,400.00. Following the transaction, the chief accounting officer now directly owns 15,473 shares of the company’s stock, valued at $2,707,775. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Robert J. Decker sold 16,928 shares of Johnson & Johnson stock in a transaction on Friday, November 18th. The shares were sold at an average price of $175.00, for a total transaction of $2,962,400.00. Following the completion of the sale, the chief accounting officer now directly owns 15,473 shares in the company, valued at $2,707,775. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Peter Fasolo sold 22,864 shares of Johnson & Johnson stock in a transaction on Wednesday, October 19th. The stock was sold at an average price of $164.50, for a total transaction of $3,761,128.00. Following the sale, the vice president now owns 114,676 shares of the company’s stock, valued at $18,864,202. The disclosure for this sale can be found here. Over the last three months, insiders have sold 135,723 shares of company stock valued at $23,192,574. 0.35% of the stock is currently owned by insiders.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $176.82 on Wednesday. The firm has a market cap of $462.29 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 3.49 and a beta of 0.57. The company’s 50 day moving average is $168.35 and its 200 day moving average is $171.28. The company has a quick ratio of 1.18, a current ratio of 1.43 and a debt-to-equity ratio of 0.37. Johnson & Johnson has a 52-week low of $155.72 and a 52-week high of $186.69.

Johnson & Johnson (NYSE:JNJGet Rating) last released its quarterly earnings results on Tuesday, October 18th. The company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.06. Johnson & Johnson had a net margin of 19.95% and a return on equity of 35.37%. The business had revenue of $23.79 billion for the quarter, compared to analyst estimates of $23.44 billion. During the same period in the previous year, the company earned $2.60 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, sell-side analysts anticipate that Johnson & Johnson will post 10.04 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Tuesday, November 22nd will be issued a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend is Monday, November 21st. Johnson & Johnson’s dividend payout ratio is currently 62.95%.

Johnson & Johnson declared that its board has initiated a share repurchase plan on Wednesday, September 14th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to repurchase up to 1.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Johnson & Johnson Profile

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Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment offers baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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