Envestnet Asset Management Inc. Acquires 109,184 Shares of Johnson & Johnson (NYSE:JNJ)

Envestnet Asset Management Inc. grew its position in shares of Johnson & Johnson (NYSE:JNJ) by 2.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,283,347 shares of the company’s stock after acquiring an additional 109,184 shares during the period. Envestnet Asset Management Inc. owned about 0.18% of Johnson & Johnson worth $626,054,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in Johnson & Johnson in the fourth quarter worth about $4,071,642,000. Wellington Management Group LLP raised its stake in Johnson & Johnson by 16.4% in the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock worth $3,764,852,000 after buying an additional 3,391,657 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Johnson & Johnson by 16.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after buying an additional 3,139,499 shares in the last quarter. Ninety One UK Ltd raised its stake in Johnson & Johnson by 59.0% in the second quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock worth $980,579,000 after buying an additional 2,489,925 shares in the last quarter. Finally, Swedbank AB bought a new position in Johnson & Johnson in the first quarter worth about $331,178,000. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Stock Up 0.5 %

JNJ opened at $165.52 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. The company has a market capitalization of $398.45 billion, a PE ratio of 10.32, a PEG ratio of 2.71 and a beta of 0.53. The firm’s 50 day simple moving average is $159.55 and its two-hundred day simple moving average is $153.99.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.11. The business had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the firm earned $2.80 earnings per share. As a group, equities analysts forecast that Johnson & Johnson will post 10.02 EPS for the current year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were paid a dividend of $1.24 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 3.00%. Johnson & Johnson’s payout ratio is 30.92%.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction on Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on JNJ. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a report on Monday, September 9th. TD Securities cut their price target on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Daiwa America cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, TD Cowen cut their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $173.21.

Johnson & Johnson Company Profile

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.