Nordea Investment Management AB grew its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 7.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,881,436 shares of the company’s stock after purchasing an additional 555,024 shares during the quarter. Johnson & Johnson comprises about 2.2% of Nordea Investment Management AB’s investment portfolio, making the stock its 2nd biggest position. Nordea Investment Management AB owned approximately 0.29% of Johnson & Johnson worth $1,088,975,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Fundsmith Equity Fund L.P. bought a new position in Johnson & Johnson in the 2nd quarter worth $552,762,000. Vanguard Group Inc raised its holdings in Johnson & Johnson by 1.5% in the 3rd quarter. Vanguard Group Inc now owns 213,433,449 shares of the company’s stock worth $29,490,100,000 after acquiring an additional 3,235,861 shares during the period. Vanguard Group Inc. raised its holdings in Johnson & Johnson by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 213,433,449 shares of the company’s stock worth $29,490,100,000 after acquiring an additional 3,235,861 shares during the period. Morgan Stanley raised its holdings in Johnson & Johnson by 6.3% in the 3rd quarter. Morgan Stanley now owns 22,920,470 shares of the company’s stock worth $3,166,921,000 after acquiring an additional 1,352,484 shares during the period. Finally, Royal London Asset Management Ltd. bought a new position in Johnson & Johnson in the 2nd quarter worth $150,576,000. Institutional investors and hedge funds own 66.56% of the company’s stock.

NYSE JNJ opened at $137.60 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.20 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $369.17 billion, a price-to-earnings ratio of 16.82, a P/E/G ratio of 2.13 and a beta of 0.68. Johnson & Johnson has a 52-week low of $118.62 and a 52-week high of $148.99.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, January 22nd. The company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.02. The company had revenue of $20.39 billion for the quarter, compared to analyst estimates of $20.27 billion. Johnson & Johnson had a net margin of 18.75% and a return on equity of 35.63%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the business posted $1.74 EPS. Research analysts forecast that Johnson & Johnson will post 8.57 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, February 26th were given a $0.90 dividend. The ex-dividend date was Monday, February 25th. This represents a $3.60 annualized dividend and a yield of 2.62%. Johnson & Johnson’s dividend payout ratio is 44.01%.

Johnson & Johnson announced that its board has initiated a stock repurchase program on Monday, December 17th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 1.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Several brokerages recently commented on JNJ. Zacks Investment Research upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and set a $164.00 target price on the stock in a report on Wednesday, December 12th. ValuEngine upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a report on Thursday, December 13th. Citigroup lifted their target price on shares of Johnson & Johnson from $139.00 to $147.00 and gave the stock a “neutral” rating in a report on Monday, February 25th. Finally, Wells Fargo & Co reiterated an “outperform” rating and issued a $152.00 target price (down previously from $162.00) on shares of Johnson & Johnson in a report on Monday, January 14th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $142.81.

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Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.

Read More: Technical Analysis

Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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