Geode Capital Management LLC Grows Stock Position in Johnson & Johnson (NYSE:JNJ)

Geode Capital Management LLC boosted its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 1.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,106,884 shares of the company’s stock after acquiring an additional 1,004,763 shares during the period. Johnson & Johnson comprises 0.7% of Geode Capital Management LLC’s portfolio, making the stock its 17th largest holding. Geode Capital Management LLC’s holdings in Johnson & Johnson were worth $9,064,149,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Innealta Capital LLC acquired a new position in Johnson & Johnson in the 2nd quarter valued at about $27,000. Highline Wealth Partners LLC acquired a new position in shares of Johnson & Johnson in the third quarter valued at approximately $31,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Johnson & Johnson during the third quarter valued at approximately $35,000. Mowery & Schoenfeld Wealth Management LLC boosted its position in Johnson & Johnson by 58.7% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after acquiring an additional 91 shares during the last quarter. Finally, Activest Wealth Management purchased a new position in shares of Johnson & Johnson during the 3rd quarter worth $40,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

JNJ has been the subject of several analyst reports. Citigroup upped their target price on Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Wells Fargo & Company upped their price target on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Guggenheim boosted their price target on Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Finally, Morgan Stanley upped their target price on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.67.

Johnson & Johnson Trading Up 0.2 %

NYSE JNJ opened at $149.61 on Tuesday. The company has a market capitalization of $360.20 billion, a price-to-earnings ratio of 21.65, a price-to-earnings-growth ratio of 2.65 and a beta of 0.51. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85. The company’s fifty day moving average price is $157.84 and its two-hundred day moving average price is $156.40. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The business had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. During the same period in the previous year, the business earned $2.66 EPS. The business’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, research analysts predict that Johnson & Johnson will post 9.93 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be paid a dividend of $1.24 per share. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 annualized dividend and a yield of 3.32%. Johnson & Johnson’s dividend payout ratio (DPR) is 71.78%.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.