New York Life Investment Management LLC Purchases 5,544 Shares of Johnson & Johnson $JNJ

New York Life Investment Management LLC grew its stake in shares of Johnson & Johnson (NYSE:JNJ) by 1.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 332,631 shares of the company’s stock after buying an additional 5,544 shares during the quarter. New York Life Investment Management LLC’s holdings in Johnson & Johnson were worth $50,809,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of JNJ. GFG Capital LLC bought a new stake in shares of Johnson & Johnson during the second quarter worth $35,000. Stone House Investment Management LLC bought a new stake in shares of Johnson & Johnson during the first quarter worth $47,000. 1248 Management LLC bought a new stake in shares of Johnson & Johnson during the first quarter worth $48,000. von Borstel & Associates Inc. bought a new stake in shares of Johnson & Johnson during the first quarter worth $49,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Johnson & Johnson during the first quarter worth $52,000. Institutional investors own 69.55% of the company’s stock.

Insider Buying and Selling at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the company’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the transaction, the executive vice president owned 178,013 shares in the company, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Sanford C. Bernstein boosted their target price on shares of Johnson & Johnson from $172.00 to $193.00 and gave the stock a “market perform” rating in a research note on Monday, October 6th. Daiwa Capital Markets raised shares of Johnson & Johnson from a “neutral” rating to an “outperform” rating and set a $203.00 price objective on the stock in a research note on Monday, October 20th. UBS Group boosted their price objective on shares of Johnson & Johnson from $190.00 to $214.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Morgan Stanley set a $190.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, October 15th. Finally, Erste Group Bank raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $199.05.

Johnson & Johnson Price Performance

JNJ stock opened at $190.31 on Tuesday. The firm has a market cap of $458.50 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 2.24 and a beta of 0.40. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $194.48. The company’s fifty day simple moving average is $182.54 and its 200 day simple moving average is $166.65.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. The business had revenue of $24.02 billion for the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. On average, analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th will be issued a dividend of $1.30 per share. The ex-dividend date is Tuesday, November 25th. This represents a $5.20 annualized dividend and a dividend yield of 2.7%. Johnson & Johnson’s dividend payout ratio is currently 50.19%.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.