Magnus Financial Group LLC Raises Stock Position in Johnson & Johnson (NYSE:JNJ)

Magnus Financial Group LLC boosted its stake in Johnson & Johnson (NYSE:JNJ) by 774.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,221 shares of the company’s stock after purchasing an additional 93,187 shares during the period. Johnson & Johnson makes up about 1.7% of Magnus Financial Group LLC’s investment portfolio, making the stock its 11th biggest holding. Magnus Financial Group LLC’s holdings in Johnson & Johnson were worth $15,379,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in JNJ. Norges Bank acquired a new stake in Johnson & Johnson in the fourth quarter valued at approximately $4,071,642,000. Wellington Management Group LLP boosted its stake in shares of Johnson & Johnson by 16.4% in the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after purchasing an additional 3,391,657 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Johnson & Johnson by 16.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock valued at $3,453,978,000 after purchasing an additional 3,139,499 shares in the last quarter. Ninety One UK Ltd grew its holdings in Johnson & Johnson by 59.0% during the 2nd quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock valued at $980,579,000 after purchasing an additional 2,489,925 shares in the last quarter. Finally, Swedbank AB acquired a new position in Johnson & Johnson in the 1st quarter worth $331,178,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ opened at $167.27 on Thursday. The stock has a market capitalization of $402.57 billion, a P/E ratio of 10.43, a P/E/G ratio of 2.73 and a beta of 0.52. The firm’s 50-day moving average price is $156.82 and its two-hundred day moving average price is $153.70. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The business had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.33 billion. During the same quarter in the previous year, the firm posted $2.80 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be issued a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 2.97%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

Wall Street Analysts Forecast Growth

JNJ has been the subject of several recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research note on Tuesday. Morgan Stanley raised their price objective on Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Sanford C. Bernstein upped their target price on Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. TD Cowen decreased their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Finally, TD Securities cut their price target on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and an average target price of $173.21.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the transaction, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.16% of the stock is currently owned by insiders.

Johnson & Johnson Company Profile

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.