Geode Capital Management LLC Buys 1,225,676 Shares of Johnson & Johnson $JNJ

Geode Capital Management LLC increased its position in shares of Johnson & Johnson (NYSE:JNJ) by 2.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,609,476 shares of the company’s stock after buying an additional 1,225,676 shares during the quarter. Johnson & Johnson accounts for 0.6% of Geode Capital Management LLC’s portfolio, making the stock its 19th biggest holding. Geode Capital Management LLC owned approximately 2.52% of Johnson & Johnson worth $9,227,988,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Greenup Street Wealth Management LLC boosted its stake in Johnson & Johnson by 3.1% in the 2nd quarter. Greenup Street Wealth Management LLC now owns 2,021 shares of the company’s stock valued at $309,000 after buying an additional 60 shares in the last quarter. Ellis Investment Partners LLC raised its stake in shares of Johnson & Johnson by 0.7% in the second quarter. Ellis Investment Partners LLC now owns 8,559 shares of the company’s stock worth $1,307,000 after acquiring an additional 62 shares during the last quarter. Cypress Wealth Services LLC boosted its position in Johnson & Johnson by 0.9% in the 2nd quarter. Cypress Wealth Services LLC now owns 6,634 shares of the company’s stock valued at $1,013,000 after buying an additional 62 shares during the last quarter. Horizon Bancorp Inc. IN boosted its holdings in Johnson & Johnson by 11.2% in the second quarter. Horizon Bancorp Inc. IN now owns 636 shares of the company’s stock valued at $97,000 after acquiring an additional 64 shares during the last quarter. Finally, Global Strategic Investment Solutions LLC grew its position in shares of Johnson & Johnson by 3.5% during the 2nd quarter. Global Strategic Investment Solutions LLC now owns 1,925 shares of the company’s stock worth $294,000 after buying an additional 65 shares during the period. 69.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on JNJ. HSBC upped their price target on Johnson & Johnson from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Citigroup increased their price objective on Johnson & Johnson from $213.00 to $215.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Bank of America lifted their target price on Johnson & Johnson from $198.00 to $204.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. Erste Group Bank raised Johnson & Johnson from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Finally, Daiwa Capital Markets raised Johnson & Johnson from a “neutral” rating to an “outperform” rating and set a $203.00 price objective on the stock in a report on Monday, October 20th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average target price of $199.05.

Johnson & Johnson Stock Up 2.8%

Shares of NYSE JNJ opened at $193.76 on Wednesday. The stock has a 50-day moving average price of $184.79 and a two-hundred day moving average price of $169.31. The company has a market cap of $466.83 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 2.19 and a beta of 0.38. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $194.48. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.50.

Johnson & Johnson (NYSE:JNJ) last released 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 company had revenue of $24.02 billion for the quarter. As a group, analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th will be paid a $1.30 dividend. The ex-dividend date of this dividend 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%.

Insider Transactions at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction that occurred on 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 sale, the executive vice president directly owned 178,013 shares in the company, valued at $31,652,491.53. This trade represents a 24.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is currently owned by company insiders.

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.