Johnson & Johnson (NYSE:JNJ) Holdings Lifted by Partnervest Advisory Services LLC

27 May 2020, 12:42 by Tristan Rich

Partnervest Advisory Services LLC increased its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 12.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 6,776 shares of the company’s stock after purchasing an additional 725 shares during the quarter. Partnervest Advisory Services LLC’s holdings in Johnson & Johnson were worth $889,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of Johnson & Johnson by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 38,393,079 shares of the company’s stock valued at $5,589,167,000 after buying an additional 1,364,028 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Johnson & Johnson by 3.2% during the fourth quarter. Bank of New York Mellon Corp now owns 32,846,195 shares of the company’s stock valued at $4,791,274,000 after buying an additional 1,021,877 shares in the last quarter. Norges Bank purchased a new position in shares of Johnson & Johnson during the fourth quarter valued at $4,139,107,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Johnson & Johnson by 3.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 27,407,188 shares of the company’s stock valued at $3,997,886,000 after buying an additional 915,066 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Johnson & Johnson by 4.7% during the fourth quarter. FMR LLC now owns 17,945,766 shares of the company’s stock valued at $2,617,750,000 after buying an additional 799,194 shares in the last quarter. Institutional investors and hedge funds own 68.45% of the company’s stock.

JNJ opened at $144.56 on Wednesday. Johnson & Johnson has a 52-week low of $109.16 and a 52-week high of $157.00. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.31. The company has a market cap of $380.36 billion, a PE ratio of 19.12, a price-to-earnings-growth ratio of 3.14 and a beta of 0.71. The stock has a 50-day moving average of $147.76 and a 200-day moving average of $142.57.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, April 14th. The company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.27. Johnson & Johnson had a return on equity of 39.71% and a net margin of 24.47%. The business had revenue of $20.69 billion during the quarter, compared to analysts’ expectations of $19.48 billion. During the same quarter in the previous year, the firm earned $2.10 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. On average, research analysts predict that Johnson & Johnson will post 7.68 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Tuesday, May 26th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Friday, May 22nd. This is a boost from Johnson & Johnson’s previous quarterly dividend of $0.95. Johnson & Johnson’s payout ratio is currently 46.54%.

A number of research analysts have commented on the company. Morgan Stanley boosted their target price on Johnson & Johnson from $160.00 to $170.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. SVB Leerink lowered their target price on Johnson & Johnson from $172.00 to $160.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 8th. Barclays boosted their target price on Johnson & Johnson from $173.00 to $182.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Cantor Fitzgerald restated a “buy” rating and issued a $168.00 target price on shares of Johnson & Johnson in a research note on Tuesday, April 28th. Finally, Credit Suisse Group restated a “buy” rating and issued a $161.00 target price on shares of Johnson & Johnson in a research note on Tuesday, April 28th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $163.47.

In other Johnson & Johnson news, Director William D. Perez acquired 500 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was acquired at an average price of $127.69 per share, with a total value of $63,845.00. Following the transaction, the director now owns 16,030 shares of the company’s stock, valued at $2,046,870.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.27% of the stock is currently owned by insiders.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, 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, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.