Y Intercept Hong Kong Ltd Buys New Holdings in Johnson & Johnson $JNJ

Y Intercept Hong Kong Ltd bought a new stake in Johnson & Johnson (NYSE:JNJ) during the second quarter, Holdings Channel reports. The fund bought 37,252 shares of the company’s stock, valued at approximately $5,690,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in JNJ. Nuveen LLC acquired a new position in Johnson & Johnson in the first quarter valued at $1,369,188,000. Bank of New York Mellon Corp lifted its stake in shares of Johnson & Johnson by 26.4% during the first quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company’s stock worth $3,844,580,000 after purchasing an additional 4,842,582 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Johnson & Johnson by 1,382.0% during the first quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company’s stock worth $502,509,000 after purchasing an additional 2,825,626 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Johnson & Johnson by 159.6% during the second quarter. Assenagon Asset Management S.A. now owns 4,159,260 shares of the company’s stock worth $635,327,000 after purchasing an additional 2,557,388 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC acquired a new position in shares of Johnson & Johnson during the second quarter worth about $401,420,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Down 0.0%

Shares of Johnson & Johnson stock opened at $190.31 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.50. The firm has a market cap of $458.50 billion, a P/E ratio of 18.37, a P/E/G ratio of 2.24 and a beta of 0.40. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $194.48. The business has a 50-day moving average price of $182.54 and a 200 day moving average price of $166.65.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. Johnson & Johnson had a return on equity of 32.73% and a net margin of 27.26%.The firm had revenue of $24.02 billion during the quarter. On average, sell-side analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Tuesday, November 25th. Johnson & Johnson’s payout ratio is presently 50.19%.

Insider Buying and Selling

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $177.81, for a total value of $10,041,108.51. Following the completion of the transaction, the executive vice president directly owned 178,013 shares in the company, valued at $31,652,491.53. The trade was a 24.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on JNJ. Barclays boosted their price objective on Johnson & Johnson from $165.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 17th. Wells Fargo & Company set a $212.00 price objective on Johnson & Johnson and gave the stock an “overweight” rating in a research note on Friday, October 3rd. Erste Group Bank upgraded Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Argus set a $210.00 target price on Johnson & Johnson in a research report on Wednesday, October 15th. Finally, Cowen reaffirmed a “buy” rating on shares of Johnson & Johnson in a research report on Tuesday, October 14th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $199.05.

About Johnson & Johnson

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.