Reitz Capital Advisors LLC raised its position in Johnson & Johnson (NYSE:JNJ) by 95.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,587 shares of the company’s stock after acquiring an additional 775 shares during the quarter. Reitz Capital Advisors LLC’s holdings in Johnson & Johnson were worth $236,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in Johnson & Johnson by 0.6% in the 2nd quarter. BlackRock Inc. now owns 193,714,044 shares of the company’s stock valued at $27,242,005,000 after acquiring an additional 1,168,129 shares in the last quarter. Morgan Stanley grew its position in shares of Johnson & Johnson by 0.3% during the first quarter. Morgan Stanley now owns 20,801,433 shares of the company’s stock worth $2,727,694,000 after buying an additional 54,563 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Johnson & Johnson by 88.0% during the second quarter. Nordea Investment Management AB now owns 17,222,162 shares of the company’s stock worth $2,382,514,000 after buying an additional 8,062,204 shares in the last quarter. Swiss National Bank grew its position in shares of Johnson & Johnson by 1.4% during the second quarter. Swiss National Bank now owns 11,304,866 shares of the company’s stock worth $1,589,803,000 after buying an additional 157,100 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in shares of Johnson & Johnson by 2.2% during the second quarter. California Public Employees Retirement System now owns 9,752,233 shares of the company’s stock worth $1,371,457,000 after buying an additional 210,973 shares in the last quarter. 67.44% of the stock is owned by institutional investors.
In related news, EVP Kathryn E. Wengel sold 16,115 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $153.52, for a total value of $2,473,974.80. Following the completion of the sale, the executive vice president now directly owns 66,658 shares in the company, valued at $10,233,336.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Ashley Mcevoy sold 29,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $147.47, for a total transaction of $4,276,630.00. Following the completion of the sale, the executive vice president now owns 21,682 shares of the company’s stock, valued at $3,197,444.54. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.
Several research firms recently weighed in on JNJ. Independent Research upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and boosted their target price for the stock from $161.00 to $164.00 in a research note on Monday, July 20th. ValuEngine upgraded Johnson & Johnson from a “sell” rating to a “hold” rating in a research note on Monday, August 3rd. SVB Leerink restated an “outperform” rating on shares of Johnson & Johnson in a research note on Wednesday, July 15th. Stifel Nicolaus lowered Johnson & Johnson from a “buy” rating to a “hold” rating in a report on Wednesday, August 19th. Finally, Cantor Fitzgerald raised their target price on Johnson & Johnson from $168.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday, October 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $164.93.
JNJ traded up $0.59 during midday trading on Wednesday, reaching $145.14. 22,956 shares of the company’s stock were exchanged, compared to its average volume of 8,235,604. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.25 and a quick ratio of 0.99. The stock has a market capitalization of $380.57 billion, a PE ratio of 22.73, a P/E/G ratio of 3.23 and a beta of 0.68. The business’s 50-day moving average price is $148.06 and its 200 day moving average price is $146.95. Johnson & Johnson has a 1-year low of $109.16 and a 1-year high of $157.00.
Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Sunday, October 18th. The company reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.22. The company had revenue of $21.08 billion during the quarter, compared to analysts’ expectations of $20.15 billion. Johnson & Johnson had a net margin of 21.01% and a return on equity of 35.10%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.12 earnings per share. As a group, analysts expect that Johnson & Johnson will post 7.99 EPS for the current fiscal year.
About Johnson & Johnson
Johnson & Johnson researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DR.
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