Artemis Investment Management LLP Invests $8.58 Million in Johnson & Johnson (NYSE:JNJ)

Artemis Investment Management LLP acquired a new position in shares of Johnson & Johnson (NYSE:JNJ) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 54,285 shares of the company’s stock, valued at approximately $8,583,000.

Several other large investors also recently modified their holdings of JNJ. Pathway Financial Advisors LLC boosted its stake in Johnson & Johnson by 4.3% during the fourth quarter. Pathway Financial Advisors LLC now owns 5,438 shares of the company’s stock worth $852,000 after acquiring an additional 226 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Johnson & Johnson by 5.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 297,850 shares of the company’s stock worth $46,685,000 after acquiring an additional 15,490 shares in the last quarter. OneAscent Financial Services LLC boosted its stake in Johnson & Johnson by 82.8% during the fourth quarter. OneAscent Financial Services LLC now owns 9,838 shares of the company’s stock worth $1,542,000 after acquiring an additional 4,457 shares in the last quarter. Vestmark Advisory Solutions Inc. boosted its stake in Johnson & Johnson by 12.7% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 19,587 shares of the company’s stock worth $3,070,000 after acquiring an additional 2,201 shares in the last quarter. Finally, TrueMark Investments LLC bought a new position in Johnson & Johnson during the fourth quarter worth $1,458,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Stock Up 0.2 %

JNJ opened at $146.16 on Friday. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.97. The company’s 50-day moving average is $148.14 and its 200 day moving average is $154.07. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94. The firm has a market capitalization of $351.76 billion, a P/E ratio of 9.11, a PEG ratio of 2.43 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The business had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. During the same quarter last year, the company posted $2.68 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. Research analysts expect that Johnson & Johnson will post 10.62 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date was Monday, May 20th. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on JNJ shares. Bank of America cut their target price on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Morgan Stanley dropped their price objective on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a research note on Monday, June 17th. StockNews.com lowered shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 22nd. Finally, HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and raised their price objective for the company from $169.00 to $170.00 in a research note on Thursday, April 18th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Hold” and a consensus target price of $174.07.

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.