Thrivent Financial for Lutherans Buys 394,518 Shares of Johnson & Johnson (NYSE:JNJ)

Thrivent Financial for Lutherans raised its position in Johnson & Johnson (NYSE:JNJ) by 31.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,634,863 shares of the company’s stock after buying an additional 394,518 shares during the period. Johnson & Johnson comprises approximately 0.5% of Thrivent Financial for Lutherans’ holdings, making the stock its 23rd largest holding. Thrivent Financial for Lutherans owned about 0.07% of Johnson & Johnson worth $238,951,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Innealta Capital LLC bought a new stake in Johnson & Johnson during the 2nd quarter worth about $27,000. Christopher J. Hasenberg Inc bought a new stake in shares of Johnson & Johnson during the first quarter worth approximately $31,000. MFA Wealth Advisors LLC bought a new position in Johnson & Johnson in the second quarter valued at approximately $43,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Johnson & Johnson during the 4th quarter worth $44,000. Finally, Fairfield Financial Advisors LTD bought a new stake in shares of Johnson & Johnson during the 2nd quarter valued at $46,000. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

JNJ opened at $164.11 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. The company has a market capitalization of $394.96 billion, a price-to-earnings ratio of 10.23, a P/E/G ratio of 2.71 and a beta of 0.53. The business’s 50-day moving average price is $161.30 and its two-hundred day moving average price is $154.20. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.71 by $0.11. The firm had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.80 EPS. Equities analysts expect that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were paid a $1.24 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 3.02%. Johnson & Johnson’s payout ratio is currently 30.92%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on JNJ. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a research report on Friday. The Goldman Sachs Group decreased their target price on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. TD Cowen cut their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. TD Securities decreased their price objective on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Finally, Daiwa Capital Markets lowered shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $160.00 to $150.00 in a report on Tuesday, July 23rd. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $173.21.

Insiders Place Their Bets

In other news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.16% of the company’s stock.

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.