Oppenheimer Asset Management Inc. Invests $65.60 Million in Johnson & Johnson (JNJ)
Oppenheimer Asset Management Inc. purchased a new position in shares of Johnson & Johnson (NYSE:JNJ) during the first quarter, Holdings Channel reports. The firm purchased 526,674 shares of the company’s stock, valued at approximately $65,598,000. Johnson & Johnson makes up approximately 1.9% of Oppenheimer Asset Management Inc.’s portfolio, making the stock its 2nd largest position.
Several other large investors have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Johnson & Johnson during the fourth quarter worth about $3,220,322,000. Schwab Charles Investment Management Inc. raised its stake in Johnson & Johnson by 1.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 11,150,339 shares of the company’s stock worth $1,388,775,000 after buying an additional 201,703 shares in the last quarter. Fisher Asset Management LLC raised its stake in Johnson & Johnson by 1.2% in the first quarter. Fisher Asset Management LLC now owns 11,093,898 shares of the company’s stock worth $1,381,745,000 after buying an additional 136,764 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Johnson & Johnson by 0.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,948,942 shares of the company’s stock worth $990,041,000 after buying an additional 42,144 shares in the last quarter. Finally, Macquarie Group Ltd. raised its stake in Johnson & Johnson by 5.6% in the fourth quarter. Macquarie Group Ltd. now owns 6,851,198 shares of the company’s stock worth $789,328,000 after buying an additional 362,616 shares in the last quarter. Institutional investors and hedge funds own 66.06% of the company’s stock.
Johnson & Johnson (NYSE:JNJ) traded up 0.01% during mid-day trading on Friday, hitting $133.10. 4,270,571 shares of the company traded hands. The stock has a market capitalization of $357.24 billion, a price-to-earnings ratio of 22.52 and a beta of 0.78. The company’s 50-day moving average is $133.09 and its 200-day moving average is $126.30. Johnson & Johnson has a one year low of $109.32 and a one year high of $137.08.
Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, July 18th. The company reported $1.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.79 by $0.04. The business had revenue of $18.84 billion for the quarter, compared to the consensus estimate of $18.94 billion. Johnson & Johnson had a net margin of 22.52% and a return on equity of 26.76%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.74 earnings per share. Analysts predict that Johnson & Johnson will post $7.18 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Tuesday, August 29th will be issued a dividend of $0.84 per share. The ex-dividend date is Friday, August 25th. This represents a $3.36 dividend on an annualized basis and a yield of 2.52%. Johnson & Johnson’s payout ratio is 56.76%.
A number of equities research analysts have recently issued reports on JNJ shares. BidaskClub upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. Jefferies Group LLC restated a “hold” rating and set a $135.00 price target (down previously from $140.00) on shares of Johnson & Johnson in a report on Sunday, May 14th. Royal Bank Of Canada restated a “buy” rating and set a $128.00 price target on shares of Johnson & Johnson in a report on Thursday, June 15th. Atlantic Securities lowered shares of Johnson & Johnson from a “neutral” rating to an “underweight” rating and set a $113.00 price target on the stock. in a report on Friday, July 21st. Finally, Barclays PLC restated an “equal weight” rating and set a $130.00 price target (up previously from $125.00) on shares of Johnson & Johnson in a report on Monday, April 17th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company’s stock. Johnson & Johnson has a consensus rating of “Hold” and an average target price of $133.72.
In related news, VP Paulus Stoffels sold 102,692 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $133.14, for a total transaction of $13,672,412.88. Following the transaction, the vice president now directly owns 230,342 shares in the company, valued at $30,667,733.88. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Dominic J. Caruso sold 82,591 shares of the business’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $136.72, for a total transaction of $11,291,841.52. Following the transaction, the vice president now owns 226,693 shares in the company, valued at $30,993,466.96. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.
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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