OVERSEA CHINESE BANKING Corp Ltd Boosts Stake in Johnson & Johnson (NYSE:JNJ)

OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Johnson & Johnson (NYSE:JNJ) by 517.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 13,065 shares of the company’s stock after acquiring an additional 10,950 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Johnson & Johnson were worth $2,114,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in shares of Johnson & Johnson in the 2nd quarter worth about $27,000. Highline Wealth Partners LLC bought a new stake in shares of Johnson & Johnson during the third quarter valued at approximately $31,000. Mowery & Schoenfeld Wealth Management LLC boosted its stake in Johnson & Johnson by 58.7% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after purchasing an additional 91 shares during the last quarter. Morton Brown Family Wealth LLC increased its holdings in Johnson & Johnson by 400.0% in the 3rd quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock worth $41,000 after buying an additional 200 shares in the last quarter. Finally, MFA Wealth Advisors LLC purchased a new position in shares of Johnson & Johnson during the second quarter valued at approximately $43,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Trading Down 1.5 %

Johnson & Johnson stock opened at $152.64 on Wednesday. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85. The firm’s 50 day moving average price is $162.39 and its 200-day moving average price is $155.97. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. The stock has a market cap of $367.50 billion, a P/E ratio of 22.09, a PEG ratio of 2.75 and a beta of 0.53.

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

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be issued a dividend of $1.24 per share. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 annualized dividend and a dividend yield of 3.25%. Johnson & Johnson’s dividend payout ratio (DPR) is 71.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on JNJ shares. Daiwa Capital Markets lowered shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $160.00 to $150.00 in a research note on Tuesday, July 23rd. TD Securities cut their price target on Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Morgan Stanley raised their price objective on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Citigroup lifted their price target on shares of Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Sanford C. Bernstein boosted their price target on Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and an average target price of $175.00.

Insider Activity

In related news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the sale, the vice president now owns 18,973 shares of the company’s stock, valued at $3,131,683.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.16% of the company’s stock.

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.