Legal & General Group Plc Has $1.77 Billion Holdings in Johnson & Johnson (JNJ)
Legal & General Group Plc raised its stake in Johnson & Johnson (NYSE:JNJ) by 1.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 12,824,479 shares of the company’s stock after acquiring an additional 173,991 shares during the quarter. Johnson & Johnson accounts for about 1.3% of Legal & General Group Plc’s portfolio, making the stock its 4th largest position. Legal & General Group Plc’s holdings in Johnson & Johnson were worth $1,771,956,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Selective Wealth Management acquired a new stake in shares of Johnson & Johnson during the third quarter valued at about $105,000. Fusion Family Wealth LLC grew its stake in shares of Johnson & Johnson by 621.4% during the second quarter. Fusion Family Wealth LLC now owns 1,010 shares of the company’s stock valued at $123,000 after acquiring an additional 870 shares in the last quarter. Ifrah Financial Services Inc. acquired a new stake in shares of Johnson & Johnson during the third quarter valued at about $203,000. Exane Asset Management acquired a new stake in shares of Johnson & Johnson during the second quarter valued at about $206,000. Finally, Peak Capital Management LLC acquired a new stake in shares of Johnson & Johnson during the second quarter valued at about $207,000. 66.56% of the stock is currently owned by institutional investors.
NYSE:JNJ opened at $137.60 on Friday. The stock has a market capitalization of $369.17 billion, a P/E ratio of 16.82, a PEG ratio of 2.13 and a beta of 0.68. Johnson & Johnson has a one year low of $118.62 and a one year high of $148.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.47 and a quick ratio of 1.20.
Johnson & Johnson declared that its Board of Directors has initiated a share buyback program on Monday, December 17th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 1.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, February 26th were issued a $0.90 dividend. The ex-dividend date of this dividend was Monday, February 25th. This represents a $3.60 dividend on an annualized basis and a yield of 2.62%. Johnson & Johnson’s dividend payout ratio is currently 44.01%.
JNJ has been the subject of several recent analyst reports. Zacks Investment Research downgraded Johnson & Johnson from a “hold” rating to a “sell” rating in a research note on Wednesday, January 16th. Morgan Stanley decreased their price target on Johnson & Johnson from $153.00 to $130.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 2nd. Wells Fargo & Co reiterated an “outperform” rating and issued a $152.00 price target (down from $162.00) on shares of Johnson & Johnson in a research note on Monday, January 14th. Barclays reiterated an “equal weight” rating and issued a $135.00 price target (down from $137.00) on shares of Johnson & Johnson in a research note on Wednesday, January 23rd. Finally, ValuEngine upgraded Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Thursday, December 13th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $142.81.
ILLEGAL ACTIVITY WARNING: This news story was reported by Watch List News and is the property of of Watch List News. If you are reading this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright law. The legal version of this news story can be read at https://www.watchlistnews.com/legal-general-group-plc-has-1-77-billion-holdings-in-johnson-johnson-jnj/2896902.html.
Johnson & Johnson Company Profile
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.
Read More: How dollar cost averaging works
Want to see what other hedge funds are holding JNJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Johnson & Johnson (NYSE:JNJ).
Receive News & Ratings for Johnson & Johnson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Johnson & Johnson and related companies with MarketBeat.com's FREE daily email newsletter.