Sprucegrove Investment Management Ltd. Acquires 3,400 Shares of Johnson & Johnson (NYSE:JNJ)

Sprucegrove Investment Management Ltd. boosted its holdings in Johnson & Johnson (NYSE:JNJ) by 1.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 272,600 shares of the company’s stock after purchasing an additional 3,400 shares during the period. Johnson & Johnson comprises about 1.1% of Sprucegrove Investment Management Ltd.’s portfolio, making the stock its 29th largest holding. Sprucegrove Investment Management Ltd.’s holdings in Johnson & Johnson were worth $44,802,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. grew its position in Johnson & Johnson by 0.7% in the first quarter. BlackRock Inc. now owns 189,690,998 shares of the company’s stock valued at $31,175,717,000 after purchasing an additional 1,379,656 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Johnson & Johnson by 5.4% in the fourth quarter. Bank of New York Mellon Corp now owns 31,958,260 shares of the company’s stock valued at $5,029,590,000 after acquiring an additional 1,628,229 shares during the last quarter. Norges Bank acquired a new stake in Johnson & Johnson in the fourth quarter valued at $4,370,566,000. Morgan Stanley lifted its stake in Johnson & Johnson by 7.3% in the fourth quarter. Morgan Stanley now owns 24,111,028 shares of the company’s stock valued at $3,794,594,000 after acquiring an additional 1,638,263 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Johnson & Johnson by 4.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,236,904 shares of the company’s stock valued at $2,712,680,000 after acquiring an additional 692,267 shares during the last quarter. 66.74% of the stock is owned by institutional investors and hedge funds.

JNJ stock traded down $1.63 during mid-day trading on Friday, hitting $165.45. The stock had a trading volume of 73,982 shares, compared to its average volume of 7,804,719. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.28 and a quick ratio of 1.04. Johnson & Johnson has a 52 week low of $133.65 and a 52 week high of $173.65. The stock has a market capitalization of $435.70 billion, a price-to-earnings ratio of 29.52, a P/E/G ratio of 2.65 and a beta of 0.71. The stock’s fifty day moving average is $166.04.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Monday, April 19th. The company reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.25. The company had revenue of $22.30 billion for the quarter, compared to analyst estimates of $22 billion. Johnson & Johnson had a net margin of 17.95% and a return on equity of 34.62%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.30 EPS. As a group, analysts anticipate that Johnson & Johnson will post 9.51 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 8th. Investors of record on Tuesday, May 25th were given a dividend of $1.06 per share. The ex-dividend date of this dividend was Monday, May 24th. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.01. This represents a $4.24 annualized dividend and a yield of 2.56%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 52.80%.

A number of analysts have commented on the stock. Morgan Stanley started coverage on shares of Johnson & Johnson in a research note on Friday, May 28th. They issued an “overweight” rating and a $187.00 price target for the company. Credit Suisse Group set a $193.00 target price on shares of Johnson & Johnson and gave the stock a “buy” rating in a research note on Monday. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $182.45.

Johnson & Johnson Profile

Johnson & Johnson researches and develops, manufactures, and sells a range of products in the health care field worldwide. It operates through three segments: Consumer Health, Pharmaceutical, and Medical Devices. The 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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