Johnson & Johnson (NYSE:JNJ) Shares Acquired by Panagora Asset Management Inc.

Panagora Asset Management Inc. lifted its stake in shares of Johnson & Johnson (NYSE:JNJ) by 424.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 792,090 shares of the company’s stock after acquiring an additional 641,124 shares during the period. Panagora Asset Management Inc.’s holdings in Johnson & Johnson were worth $115,772,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in JNJ. Christopher J. Hasenberg Inc acquired a new stake in shares of Johnson & Johnson during the first quarter valued at $31,000. MFA Wealth Advisors LLC acquired a new stake in Johnson & Johnson in the 2nd quarter worth about $43,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Johnson & Johnson in the 4th quarter worth about $44,000. Grayhawk Investment Strategies Inc. boosted its stake in Johnson & Johnson by 528.6% in the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after buying an additional 259 shares during the last quarter. Finally, Richardson Financial Services Inc. acquired a new stake in Johnson & Johnson in the 4th quarter worth about $54,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ opened at $165.86 on Friday. The company has a market cap of $399.17 billion, a P/E ratio of 10.34, a PEG ratio of 2.63 and a beta of 0.52. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. Johnson & Johnson has a one year low of $143.13 and a one year high of $165.98. The business’s 50-day simple moving average is $155.34 and its 200 day simple moving average is $153.45.

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

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be issued a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 2.99%. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on JNJ shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Monday, August 5th. Sanford C. Bernstein raised their price target on Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. The Goldman Sachs Group cut their price objective on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. TD Securities cut their price objective on Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Finally, TD Cowen cut their price objective on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.21.

Johnson & Johnson Company Profile

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.