Bedell Frazier Investment Counseling LLC Acquires 4,039 Shares of Johnson & Johnson (NYSE:JNJ)
Bedell Frazier Investment Counseling LLC increased its stake in Johnson & Johnson (NYSE:JNJ – received rating) up 6.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The company owned 66,018 shares of the company’s shares after purchasing an additional 4,039 shares during the period. Johnson & Johnson accounts for about 3.0% of Bedell Frazier Investment Counseling LLC’s portfolio, making the stock its seventh-largest holding. Bedell Frazier Investment Counseling LLC’s holdings in Johnson & Johnson were worth $11,700,000 at the end of the most recent quarter.
Several other hedge funds have also increased or reduced their holdings in JNJ. Norges Bank acquired a new position in Johnson & Johnson stock valued at approximately $4,172,929,000 during the fourth quarter. BlackRock Inc. increased its position in Johnson & Johnson shares by 2.6% in the fourth quarter. BlackRock Inc. now owns 200,021,352 shares of the Company’s stock valued at $34,217,654,000 after purchasing an additional 4,982,885 shares during the period. GQG Partners LLC increased its stake in Johnson & Johnson shares by 1,109.4% during the fourth quarter. GQG Partners LLC now owns 3,954,383 shares of the company’s stock valued at $676,375,000 after purchasing an additional 3,627,424 shares last quarter. State Street Corp increased its stake in Johnson & Johnson by 1.8% in the fourth quarter. State Street Corp now owns 144,677,639 shares of the company’s stock valued at $24,750,004,000 after purchasing an additional 2,492,359 shares last quarter. Finally, the Swiss National Bank increased its stake in Johnson & Johnson shares by 14.0% in the first quarter. The Swiss National Bank now owns 11,402,516 shares of the company, valued at $2,020,868,000, after purchasing an additional 1,396,500 shares last quarter. 68.78% of the shares are currently owned by institutional investors and hedge funds.
Johnson & Johnson stock performance
shares of JNJ stock opened at $169.31 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.17 and a debt-to-equity ratio of 0.37. The company has a market cap of $445.15 billion, a P/E of 24.64, a price-to-earnings-to-growth ratio of 3.19 and a beta of 0.59. The company has a 50-day simple moving average of $173.43 and a 200-day simple moving average of $174.54. Johnson & Johnson has a 12-month low of $155.72 and a 12-month high of $186.69.
Johnson & Johnson (NYSE:JNJ – received rating) last released its quarterly earnings data on Tuesday, July 19. The company reported earnings per share (EPS) of $2.59 for the quarter, beating analyst consensus estimates of $2.57 by $0.02. The company had revenue of $24.02 billion for the quarter, compared to the consensus estimate of $23.85 billion. Johnson & Johnson had a 19.21% net margin and a 36.14% return on equity. The company’s revenue for the quarter increased 3.0% compared to the same quarter last year. In the same period last year, the company earned $2.48 per share. Analysts are forecasting that Johnson & Johnson will post 10.05 EPS for the current fiscal year.
Johnson & Johnson announces dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 23 will receive a dividend of $1.13 per share. That equates to an annual dividend of $4.52 and a yield of 2.67%. The ex-dividend date of this dividend is Monday August 22nd. Johnson & Johnson’s payout ratio is 65.79%.
Wall Street analyst ponders
Several analysts recently rated JNJ stock. Morgan Stanley has raised its price target on Johnson & Johnson shares to $174.00 from $173.00 and issued a research note on Friday, July 8th with an “equiweight” rating. Citigroup lowered its target price on shares of Johnson & Johnson from $205.00 to $201.00 in a research note on Wednesday, July 20. Wells Fargo & Company raised its target price on Johnson & Johnson shares to $195.00 from $190.00 and gave the company an overweight rating in a research note on Wednesday, July 13. UBS Group lowered its price target for Johnson & Johnson shares from $185.00 to $180.00 in a research note on Thursday, July 21. Finally, StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 17. Four investment analysts have rated the stock with a hold rating, five with a buy rating and one with a strong buy rating on the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $189.89.
Insiders place their bets
In other news from Johnson & Johnson, EPP Kathryn E Wengel sold 40,000 shares of Johnson & Johnson shares in one transaction on Friday, June 10. The shares were sold at an average price of $173.00 for a total transaction of $6,920,000.00. Following the transaction, the Executive Vice President now directly owns 71,311 shares of the Company, valued at approximately $12,336,803. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Kathryn E. Wengel sold 40,000 shares of the company’s stock in a transaction on Friday, June 10. The shares sold at an average price of $173.00 for a total value of $6,920,000.00. Following the transaction, the Executive Vice President now directly owns 71,311 shares of the Company, valued at approximately $12,336,803. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also CAO Robert J Decker sold 8,462 shares of the company’s shares in a transaction dated Thursday, May 26. The stock sold at an average price of $180.00 for a total transaction of $1,523,160.00. Upon completion of the transaction, the Chief Accounting Officer now directly owns 15,473 shares of the Company, valued at $2,785,140. Disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.
Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures and markets a variety of healthcare products worldwide. The Company’s Consumer Health segment offers baby care products under the JOHNSON’S and AVEENO Baby brands; LISTERINE brand oral care products; Skin health/beauty products under the brands AVEENO, CLEAN & CLEAR, DR.
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