Korea Investment CORP Acquires 32,206 Shares of Johnson & Johnson $JNJ

Korea Investment CORP increased its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 1.8% in the first quarter, HoldingsChannel reports. The firm owned 1,850,587 shares of the company’s stock after buying an additional 32,206 shares during the period. Johnson & Johnson makes up 0.7% of Korea Investment CORP’s portfolio, making the stock its 22nd largest position. Korea Investment CORP’s holdings in Johnson & Johnson were worth $306,901,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Elios Financial Group Inc. grew its holdings in Johnson & Johnson by 1.5% during the first quarter. Elios Financial Group Inc. now owns 4,496 shares of the company’s stock worth $746,000 after purchasing an additional 66 shares during the period. Atlantic Family Wealth LLC grew its holdings in Johnson & Johnson by 4.4% during the first quarter. Atlantic Family Wealth LLC now owns 1,603 shares of the company’s stock worth $266,000 after purchasing an additional 67 shares during the period. MBA Advisors LLC boosted its holdings in shares of Johnson & Johnson by 1.2% during the first quarter. MBA Advisors LLC now owns 5,553 shares of the company’s stock worth $921,000 after acquiring an additional 68 shares during the period. Sovereign Financial Group Inc. boosted its holdings in shares of Johnson & Johnson by 1.8% during the first quarter. Sovereign Financial Group Inc. now owns 3,928 shares of the company’s stock worth $651,000 after acquiring an additional 69 shares during the period. Finally, Nabity Jensen Investment Management Inc boosted its holdings in shares of Johnson & Johnson by 1.5% during the first quarter. Nabity Jensen Investment Management Inc now owns 4,624 shares of the company’s stock worth $767,000 after acquiring an additional 69 shares during the period. Institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Bank of America boosted their price objective on Johnson & Johnson from $161.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Erste Group Bank upgraded Johnson & Johnson from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Leerink Partnrs cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Royal Bank Of Canada boosted their price objective on Johnson & Johnson from $181.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, July 17th. Finally, Morgan Stanley lifted their price target on shares of Johnson & Johnson from $171.00 to $176.00 and gave the company an “equal weight” rating in a research report on Thursday, July 17th. Nine research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $174.50.

Johnson & Johnson Stock Up 1.2%

Shares of JNJ opened at $176.76 on Monday. Johnson & Johnson has a one year low of $140.68 and a one year high of $177.27. The company has a market cap of $425.70 billion, a P/E ratio of 18.90, a P/E/G ratio of 2.25 and a beta of 0.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. The firm has a 50 day simple moving average of $161.28 and a two-hundred day simple moving average of $158.43.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $22.85 billion. During the same period in the prior year, the business earned $2.82 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. Research analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be given a dividend of $1.30 per share. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a yield of 2.9%. Johnson & Johnson’s payout ratio is currently 55.61%.

About Johnson & Johnson

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.