KLP Kapitalforvaltning AS Invests $151.54 Million in Johnson & Johnson (NYSE:JNJ)

KLP Kapitalforvaltning AS bought a new stake in Johnson & Johnson (NYSE:JNJ - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,047,814 shares of the company's stock, valued at approximately $151,535,000. Johnson & Johnson accounts for about 0.7% of KLP Kapitalforvaltning AS's investment portfolio, making the stock its 19th biggest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of Johnson & Johnson in the 4th quarter valued at $1,339,878,000. Janus Henderson Group PLC grew its position in Johnson & Johnson by 228.1% during the 3rd quarter. Janus Henderson Group PLC now owns 3,389,361 shares of the company's stock worth $549,223,000 after purchasing an additional 2,356,359 shares during the last quarter. Franklin Resources Inc. increased its stake in Johnson & Johnson by 11.4% in the third quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company's stock valued at $2,721,355,000 after purchasing an additional 1,729,281 shares during the period. Amundi raised its holdings in shares of Johnson & Johnson by 16.2% in the fourth quarter. Amundi now owns 11,930,183 shares of the company's stock valued at $1,698,984,000 after buying an additional 1,660,458 shares during the last quarter. Finally, Holocene Advisors LP purchased a new position in shares of Johnson & Johnson during the third quarter worth about $225,040,000. Hedge funds and other institutional investors own 69.55% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on JNJ. Royal Bank of Canada reaffirmed an "outperform" rating and set a $181.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, February 19th. Raymond James decreased their price target on Johnson & Johnson from $170.00 to $165.00 and set an "outperform" rating for the company in a report on Thursday, January 23rd. Guggenheim reissued a "neutral" rating on shares of Johnson & Johnson in a research note on Monday, March 10th. Wells Fargo & Company reduced their target price on shares of Johnson & Johnson from $166.00 to $152.00 and set an "equal weight" rating for the company in a research note on Thursday, January 23rd. Finally, Stifel Nicolaus cut their price target on shares of Johnson & Johnson from $170.00 to $155.00 and set a "hold" rating for the company in a report on Thursday, January 23rd. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $171.33.

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Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock traded down $2.15 on Tuesday, hitting $161.14. The company's stock had a trading volume of 7,455,754 shares, compared to its average volume of 7,086,516. The company has a market capitalization of $388.32 billion, a P/E ratio of 24.23, a price-to-earnings-growth ratio of 2.56 and a beta of 0.47. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $169.99. The firm has a fifty day moving average price of $157.70 and a 200-day moving average price of $156.14. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.99 by $0.05. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The business had revenue of $22.52 billion for the quarter, compared to analyst estimates of $22.44 billion. During the same period in the prior year, the business earned $2.29 earnings per share. The company's quarterly revenue was up 5.3% on a year-over-year basis. On average, equities research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given a $1.24 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $4.96 annualized dividend and a dividend yield of 3.08%. Johnson & Johnson's dividend payout ratio is currently 74.59%.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 6,999 shares of the firm's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the sale, the vice president now directly owns 21,001 shares of the company's stock, valued at $3,483,645.88. This trade represents a 25.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Timothy Schmid sold 403 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total transaction of $62,928.45. Following the completion of the transaction, the executive vice president now directly owns 15,098 shares of the company's stock, valued at approximately $2,357,552.70. This represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company's stock.

About Johnson & Johnson

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.