Nuveen LLC Buys New Stake in Johnson & Johnson (NYSE:JNJ)
Nuveen LLC has acquired a new stake in Johnson & Johnson (NYSE: JNJ), purchasing 8,256,079 shares valued at approximately $1.37 billion in the first quarter. This acquisition brings Nuveen's ownership to about 0.34% of the company. Other institutional investors, including Vanguard Group and Northern Trust, have also increased their stakes in Johnson & Johnson. The stock is currently trading at $173.40, with a market capitalization of $417.61 billion and a dividend yield of 3.0%.
Nuveen LLC acquired a new position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,256,079 shares of the company's stock, valued at approximately $1,369,188,000. Nuveen LLC owned approximately 0.34% of Johnson & Johnson at the end of the most recent reporting period.
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Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Johnson & Johnson by 0.5% in the first quarter. Vanguard Group Inc. now owns 233,962,679 shares of the company's stock valued at $38,800,371,000 after buying an additional 1,170,120 shares during the last quarter. Northern Trust Corp boosted its position in shares of Johnson & Johnson by 12.3% in the 4th quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock worth $4,456,201,000 after purchasing an additional 3,363,235 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Johnson & Johnson by 26.4% during the 1st quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock worth $3,844,580,000 after buying an additional 4,842,582 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Johnson & Johnson by 3.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,899,263 shares of the company's stock valued at $3,133,602,000 after purchasing an additional 712,181 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Johnson & Johnson by 2.5% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 18,282,410 shares of the company's stock valued at $3,031,955,000 after buying an additional 448,666 shares during the period. 69.55% of the stock is owned by institutional investors.
Johnson & Johnson Stock Performance
NYSE JNJ opened at $173.40 on Friday. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $173.96. The firm's 50 day simple moving average is $159.26 and its 200 day simple moving average is $157.52. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $417.61 billion, a price-to-earnings ratio of 18.55, a P/E/G ratio of 2.21 and a beta of 0.41.
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Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The company had revenue of $23.74 billion for the quarter, compared to analyst estimates of $22.85 billion. During the same period in the previous year, the firm posted $2.82 EPS. The firm's revenue was up 5.8% on a year-over-year basis. As a group, research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.
Johnson & Johnson Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson's payout ratio is 55.61%.
Wall Street Analysts Forecast Growth
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A number of analysts recently issued reports on the company. Barclays increased their target price on Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Raymond James Financial lowered their target price on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Leerink Partners lowered shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $169.00 to $153.00 in a research report on Tuesday, May 13th. Piper Sandler reaffirmed an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Finally, Bank of America lifted their target price on shares of Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Nine equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Johnson & Johnson currently has a consensus rating of "Moderate Buy" and a consensus price target of $174.50.
Read Our Latest Analysis on JNJ
Johnson & Johnson Company Profile
(Free Report)Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.
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