Investors Buy Shares of Johnson & Johnson (JNJ) on Weakness
Investors bought shares of Johnson & Johnson (NYSE:JNJ) on weakness during trading on Wednesday. $303.29 million flowed into the stock on the tick-up and $242.85 million flowed out of the stock on the tick-down, for a money net flow of $60.44 million into the stock. Of all companies tracked, Johnson & Johnson had the 19th highest net in-flow for the day. Johnson & Johnson traded down ($0.41) for the day and closed at $131.42
A number of research firms have issued reports on JNJ. Vetr raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating and set a $152.28 price target for the company in a research report on Monday. Stifel Nicolaus raised their price target on shares of Johnson & Johnson from $142.00 to $145.00 and gave the stock a “hold” rating in a research report on Wednesday, January 24th. BTIG Research reissued a “sell” rating and set a $110.00 price target on shares of Johnson & Johnson in a research report on Wednesday, January 24th. Credit Suisse Group set a $154.00 price target on shares of Johnson & Johnson and gave the stock a “hold” rating in a research report on Monday, January 22nd. Finally, Wells Fargo & Co reissued an “outperform” rating and set a $160.00 price target (up from $155.00) on shares of Johnson & Johnson in a research report on Friday, January 12th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $146.16.
The firm has a market capitalization of $354,163.94, a P/E ratio of 336.97, a P/E/G ratio of 2.37 and a beta of 0.74. The company has a quick ratio of 1.02, a current ratio of 1.32 and a debt-to-equity ratio of 0.36.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 13th. Stockholders of record on Tuesday, February 27th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, February 26th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.56%. Johnson & Johnson’s payout ratio is 861.54%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Johnson & Johnson by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 200,450,985 shares of the company’s stock valued at $26,517,661,000 after acquiring an additional 3,023,110 shares during the period. BlackRock Inc. grew its stake in Johnson & Johnson by 2.6% in the 2nd quarter. BlackRock Inc. now owns 174,073,764 shares of the company’s stock valued at $23,028,219,000 after acquiring an additional 4,332,612 shares during the period. Bank of New York Mellon Corp lifted its holdings in Johnson & Johnson by 0.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 36,594,054 shares of the company’s stock valued at $4,757,593,000 after purchasing an additional 130,437 shares in the last quarter. FMR LLC lifted its holdings in Johnson & Johnson by 5.9% in the 2nd quarter. FMR LLC now owns 27,237,648 shares of the company’s stock valued at $3,603,268,000 after purchasing an additional 1,509,745 shares in the last quarter. Finally, Capital World Investors lifted its holdings in Johnson & Johnson by 4.1% in the 2nd quarter. Capital World Investors now owns 26,510,007 shares of the company’s stock valued at $3,507,009,000 after purchasing an additional 1,050,000 shares in the last quarter. 65.70% of the stock is currently owned by institutional investors and hedge funds.
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About Johnson & Johnson
Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. It operates through three segments: Consumer, Pharmaceutical and Medical Devices. Its primary focus is products related to human health and well-being.
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