Vestcor Inc Raises Position in Johnson & Johnson $JNJ

Vestcor Inc grew its position in Johnson & Johnson (NYSE:JNJ) by 17.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 180,698 shares of the company’s stock after acquiring an additional 26,990 shares during the period. Johnson & Johnson accounts for 1.0% of Vestcor Inc’s portfolio, making the stock its 8th largest holding. Vestcor Inc’s holdings in Johnson & Johnson were worth $33,505,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Abich Financial Wealth Management LLC bought a new position in Johnson & Johnson in the 3rd quarter valued at $26,000. Clayton Financial Group LLC bought a new position in shares of Johnson & Johnson in the third quarter valued at about $28,000. Evolution Wealth Management Inc. bought a new stake in Johnson & Johnson during the 2nd quarter worth about $27,000. Semmax Financial Advisors Inc. grew its holdings in Johnson & Johnson by 55.0% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 203 shares of the company’s stock worth $31,000 after acquiring an additional 72 shares during the last quarter. Finally, Compass Financial Services Inc increased its position in Johnson & Johnson by 707.1% in the 3rd quarter. Compass Financial Services Inc now owns 226 shares of the company’s stock valued at $42,000 after acquiring an additional 198 shares in the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, EVP Vanessa Broadhurst sold 6,197 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $243.39, for a total value of $1,508,287.83. Following the sale, the executive vice president directly owned 23,003 shares in the company, valued at approximately $5,598,700.17. This trade represents a 21.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Timothy Schmid sold 22,623 shares of Johnson & Johnson stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $244.33, for a total transaction of $5,527,477.59. Following the transaction, the executive vice president directly owned 26,769 shares in the company, valued at approximately $6,540,469.77. This represents a 45.80% 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 worth $7,360,528 in the last three months. 0.16% of the stock is owned by insiders.

Johnson & Johnson Price Performance

JNJ opened at $240.57 on Monday. The company has a fifty day moving average price of $228.36 and a two-hundred day moving average price of $204.37. The firm has a market capitalization of $579.75 billion, a PE ratio of 21.77, a P/E/G ratio of 2.37 and a beta of 0.34. Johnson & Johnson has a 52 week low of $141.50 and a 52 week high of $251.71. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.77 and a current ratio of 1.03.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Saturday, January 31st. The company reported $2.46 earnings per share (EPS) for the quarter. The business 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%. As a group, analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, February 24th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 47.06%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on JNJ shares. Bank of America reiterated a “neutral” rating on shares of Johnson & Johnson in a research report on Monday, March 2nd. Freedom Capital lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Loop Capital set a $220.00 price objective on Johnson & Johnson in a report on Tuesday, January 27th. Argus increased their price objective on Johnson & Johnson from $210.00 to $240.00 in a research report on Friday, January 23rd. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Johnson & Johnson in a research note on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $234.87.

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.