Jain Global LLC Invests $52.19 Million in Johnson & Johnson $JNJ

Jain Global LLC acquired a new position in shares of Johnson & Johnson (NYSE:JNJ) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 281,464 shares of the company’s stock, valued at approximately $52,189,000. Johnson & Johnson makes up about 0.2% of Jain Global LLC’s investment portfolio, making the stock its 13th largest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SOA Wealth Advisors LLC. lifted its holdings in shares of Johnson & Johnson by 0.7% in the third quarter. SOA Wealth Advisors LLC. now owns 7,392 shares of the company’s stock worth $1,371,000 after acquiring an additional 53 shares during the last quarter. Ethos Financial Group LLC grew its holdings in shares of Johnson & Johnson by 0.6% during the 3rd quarter. Ethos Financial Group LLC now owns 9,110 shares of the company’s stock valued at $1,689,000 after purchasing an additional 53 shares during the last quarter. Pinnacle Holdings LLC increased its position in Johnson & Johnson by 0.5% during the 3rd quarter. Pinnacle Holdings LLC now owns 11,214 shares of the company’s stock worth $2,079,000 after purchasing an additional 54 shares in the last quarter. Bouchey Financial Group Ltd lifted its stake in Johnson & Johnson by 0.8% in the 3rd quarter. Bouchey Financial Group Ltd now owns 7,249 shares of the company’s stock valued at $1,344,000 after purchasing an additional 54 shares during the last quarter. Finally, Intrepid Capital Management Inc. boosted its position in Johnson & Johnson by 0.4% in the third quarter. Intrepid Capital Management Inc. now owns 12,785 shares of the company’s stock valued at $2,371,000 after buying an additional 54 shares in the last quarter. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $241.71 on Monday. The company has a market capitalization of $582.19 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 2.38 and a beta of 0.34. Johnson & Johnson has a twelve month low of $141.50 and a twelve month high of $251.71. The stock has a fifty day simple moving average of $231.91 and a 200 day simple moving average of $206.65. The company has a quick ratio of 0.77, a current ratio of 1.03 and a debt-to-equity ratio of 0.48.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Saturday, January 31st. The company reported $2.46 EPS for the quarter. The firm had revenue of $24.28 billion for the quarter. Johnson & Johnson had a return on equity of 33.04% and a net margin of 28.46%. Sell-side analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th were issued a $1.30 dividend. The ex-dividend date was Tuesday, February 24th. This represents a $5.20 annualized dividend and a yield of 2.2%. Johnson & Johnson’s dividend payout ratio is presently 47.06%.

Insider Buying and Selling

In other news, EVP Timothy Schmid sold 1,322 shares of the company’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $245.66, for a total value of $324,762.52. Following the sale, the executive vice president directly owned 25,447 shares of the company’s stock, valued at approximately $6,251,310.02. This represents a 4.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Vanessa Broadhurst sold 6,197 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $243.39, for a total transaction of $1,508,287.83. Following the sale, the executive vice president owned 23,003 shares of the company’s stock, valued at approximately $5,598,700.17. This trade represents a 21.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,142 shares of company stock valued at $7,360,528 in the last three months. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on JNJ shares. Bank of America reiterated a “neutral” rating on shares of Johnson & Johnson in a report on Monday, March 2nd. BMO Capital Markets restated an “outperform” rating on shares of Johnson & Johnson in a research report on Thursday, December 11th. Barclays increased their target price on Johnson & Johnson from $197.00 to $217.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 30th. The Goldman Sachs Group reissued a “buy” rating and set a $250.00 price target on shares of Johnson & Johnson in a research note on Thursday, January 22nd. Finally, HSBC upped their price objective on Johnson & Johnson from $240.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average price target of $235.91.

About Johnson & Johnson

Johnson & Johnson is a multinational healthcare company headquartered in New Brunswick, New Jersey, that develops, manufactures and markets a broad range of products across pharmaceuticals, medical devices and previously consumer health. Founded in 1886 by the Johnson family, the company has grown into a global healthcare organization with operations and sales in many countries around the world.

The company’s pharmaceuticals business, organized largely under its Janssen research and development organization, focuses on prescription medicines across therapeutic areas such as immunology, infectious disease, oncology and neuroscience.