Korea Investment CORP trimmed its stake in shares of Johnson & Johnson (NYSE:JNJ) by 3.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,100,401 shares of the company’s stock after selling 80,500 shares during the quarter. Johnson & Johnson makes up 1.3% of Korea Investment CORP’s holdings, making the stock its 9th biggest holding. Korea Investment CORP owned about 0.08% of Johnson & Johnson worth $273,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp increased its holdings in Johnson & Johnson by 4.3% in the first quarter. State Street Corp now owns 160,223,321 shares of the company’s stock worth $19,955,806,000 after purchasing an additional 6,656,371 shares in the last quarter. BlackRock Inc. increased its holdings in Johnson & Johnson by 2.6% in the second quarter. BlackRock Inc. now owns 174,073,764 shares of the company’s stock worth $23,028,219,000 after purchasing an additional 4,332,612 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Johnson & Johnson by 717.9% in the second quarter. Janus Henderson Group PLC now owns 3,748,008 shares of the company’s stock worth $495,837,000 after purchasing an additional 3,289,763 shares in the last quarter. Vanguard Group Inc. increased its holdings in Johnson & Johnson by 1.5% in the second quarter. Vanguard Group Inc. now owns 200,450,985 shares of the company’s stock worth $26,517,661,000 after purchasing an additional 3,023,110 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its holdings in Johnson & Johnson by 47.9% in the second quarter. Parametric Portfolio Associates LLC now owns 7,970,670 shares of the company’s stock worth $1,054,433,000 after purchasing an additional 2,581,562 shares in the last quarter. Institutional investors own 65.70% of the company’s stock.
A number of brokerages have weighed in on JNJ. Vetr downgraded Johnson & Johnson from a “hold” rating to a “sell” rating and set a $130.49 target price for the company. in a report on Monday, September 18th. Stifel Nicolaus lifted their target price on Johnson & Johnson from $140.00 to $142.00 and gave the stock a “hold” rating in a report on Wednesday, October 18th. Citigroup lifted their target price on Johnson & Johnson from $140.00 to $149.00 and gave the stock a “buy” rating in a report on Monday, October 23rd. Jefferies Group upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their target price for the stock from $145.00 to $157.00 in a report on Wednesday, October 11th. Finally, Argus lifted their target price on Johnson & Johnson from $145.00 to $165.00 and gave the stock a “positive” rating in a report on Wednesday, October 18th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $145.52.
Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, October 17th. The company reported $1.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.80 by $0.10. The firm had revenue of $19.65 billion during the quarter, compared to the consensus estimate of $19.29 billion. Johnson & Johnson had a return on equity of 27.38% and a net margin of 21.28%. The company’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.68 earnings per share. sell-side analysts expect that Johnson & Johnson will post 7.28 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 13th. Investors of record on Tuesday, February 27th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, February 26th. This represents a $3.36 annualized dividend and a dividend yield of 2.39%. Johnson & Johnson’s payout ratio is 58.33%.
About Johnson & Johnson
Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. It operates through three segments: Consumer, Pharmaceutical and Medical Devices. Its primary focus is products related to human health and well-being.
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