Zurcher Kantonalbank Zurich Cantonalbank Increases Position in Johnson & Johnson (NYSE:JNJ)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Johnson & Johnson (NYSE:JNJFree Report) by 0.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,248,528 shares of the company’s stock after acquiring an additional 5,094 shares during the quarter. Johnson & Johnson accounts for about 0.6% of Zurcher Kantonalbank Zurich Cantonalbank’s holdings, making the stock its 22nd largest position. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.05% of Johnson & Johnson worth $202,336,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Meridian Financial Partners LLC purchased a new position in shares of Johnson & Johnson in the 2nd quarter worth about $1,626,000. Meridian Investment Counsel Inc. raised its position in Johnson & Johnson by 19.6% in the third quarter. Meridian Investment Counsel Inc. now owns 22,629 shares of the company’s stock worth $3,667,000 after acquiring an additional 3,710 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Johnson & Johnson by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock valued at $2,858,543,000 after acquiring an additional 102,502 shares during the last quarter. Sheaff Brock Investment Advisors LLC grew its position in shares of Johnson & Johnson by 137.2% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 43,568 shares of the company’s stock valued at $7,061,000 after acquiring an additional 25,203 shares during the period. Finally, Lmcg Investments LLC increased its stake in shares of Johnson & Johnson by 32.7% during the 3rd quarter. Lmcg Investments LLC now owns 87,162 shares of the company’s stock worth $14,125,000 after purchasing an additional 21,471 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the transaction, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. This trade represents a 22.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Guggenheim lifted their price objective on Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a report on Wednesday, October 16th. Wolfe Research initiated coverage on shares of Johnson & Johnson in a research report on Friday, November 15th. They set an “outperform” rating and a $190.00 target price for the company. Finally, Wells Fargo & Company boosted their price target on shares of Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.94.

Check Out Our Latest Stock Analysis on JNJ

Johnson & Johnson Price Performance

JNJ opened at $155.39 on Thursday. The stock’s 50 day moving average price is $159.52 and its 200-day moving average price is $156.38. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85. The stock has a market capitalization of $374.12 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 2.77 and a beta of 0.53. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03.

Johnson & Johnson (NYSE:JNJGet Free Report) last posted its earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The firm had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. During the same period last year, the company posted $2.66 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, equities research analysts predict that Johnson & Johnson will post 9.93 EPS for the current year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s payout ratio is presently 71.78%.

Johnson & Johnson Profile

(Free Report)

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.

See Also

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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