Vinva Investment Management Ltd Increases Stake in Johnson & Johnson

Vinva Investment Management Ltd has increased its investment in Johnson & Johnson (NYSE:JNJ) by 6.8% during the third quarter, as reported in their latest filing with the Securities and Exchange Commission. The institutional investor now holds 111,448 shares of Johnson & Johnson, having acquired an additional 7,110 shares in the recent quarter. Johnson & Johnson represents approximately 0.8% of Vinva Investment Management Ltd's entire portfolio, making it the firm's 20th largest holding with a value of $17,988,000.

Many other institutional investors have also adjusted their positions in Johnson & Johnson recently. For instance, Strategic Wealth Partners Ltd raised its stake by 26.7% in the first quarter, now owning 6,077 shares valued at $961,000 after buying an additional 1,280 shares. Similarly, Raelipskie Partnership increased its holdings by 3.9%, owning 14,090 shares worth $2,229,000 after purchasing 531 shares last quarter. Community Trust & Investment Co. grew its position by 0.9% and now owns 96,066 shares valued at $15,197,000 following the acquisition of 877 additional shares. Additionally, Cetera Investment Advisers significantly boosted its stake by 224.0% to own 707,273 shares valued at $111,884,000 after acquiring 488,955 shares. Cetera Advisors LLC also saw a notable increase of 71.6% in its stake, resulting in ownership of 274,630 shares worth $43,444,000. Overall, institutional investors and hedge funds hold around 69.55% of Johnson & Johnson's stock.

Recent Analyst Ratings

Several brokerage firms have recently updated their ratings on Johnson & Johnson. Wells Fargo & Company set a new price target of $166.00, maintaining an "equal weight" rating. On the same note, Morgan Stanley raised its price target from $169.00 to $175.00, also assigning an "equal weight" rating. Cantor Fitzgerald reaffirmed an "overweight" rating with a price objective of $215.00, while Guggenheim increased their target price from $156.00 to $162.00, indicating a "neutral" rating. Additionally, Citigroup raised its price target from $180.00 to $185.00, recommending a "buy" rating. In total, seven analysts have given the stock a hold rating, eight analysts a buy rating, and one analyst a strong buy rating. According to MarketBeat.com, the average rating for the stock remains a "Moderate Buy," with a consensus target price of approximately $175.94.

Current Stock Performance

As of Thursday, shares of Johnson & Johnson opened at $155.39. The company has recorded a fifty-two week low of $143.13 and a high of $168.85. The fifty-day moving average price stands at $159.52, while the two-hundred day moving average price is $156.38. Johnson & Johnson has a market capitalization of $374.12 billion, a PE ratio of 22.49, a P/E/G ratio of 2.77, and a beta of 0.53.

Quarterly Earnings Announcement

Johnson & Johnson recently reported its quarterly earnings on October 15th, showcasing an earnings per share (EPS) of $2.42. This result surpasses the consensus estimate of $2.21 by $0.21. For the quarter, the company achieved revenue of $22.47 billion, exceeding the analysts' expectations of $22.17 billion. Furthermore, Johnson & Johnson reported a return on equity of 35.45% and a net profit margin of 19.14%. Compared to the same quarter from the previous year, the revenue has increased by 5.2%. Analysts expect the company to achieve an EPS of 9.93 for the current fiscal year.

Dividend Declaration

The company also recently announced a quarterly dividend of $1.24 per share, which will be paid on December 10th to investors on record by November 26th. This dividend represents an annualized payout of $4.96, yielding 3.19%. The ex-dividend date for this upcoming payment is November 26th, and Johnson & Johnson's payout ratio stands at 71.78%.

Insider Activity

In related news, Robert J. Decker, the Vice President of Johnson & Johnson, sold 5,635 shares of the company's stock on August 30th for an average price of $165.06, totaling approximately $930,113. Following this sale, he retains ownership of 18,973 shares valued at around $3,131,683.38, which reflects a reduction of 22.90% in his overall stake. Details regarding this transaction were publicly disclosed in a filing with the SEC, which is accessible for review.

About Johnson & Johnson

Johnson & Johnson, along with its subsidiaries, is involved in researching, developing, manufacturing, and selling a wide range of healthcare products globally. Its Innovative Medicine segment offers solutions for numerous therapeutic areas, including immunology, infectious diseases, neuroscience, oncology, and cardiovascular health. The company distributes its products through various channels such as retailers, wholesalers, distributors, hospitals, and healthcare professionals.

Investment, Stock, Management