Envestnet Asset Management Inc. Acquires 209,345 Shares of Johnson & Johnson $JNJ

Envestnet Asset Management Inc. increased its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 4.4% in the second quarter, Holdings Channel.com reports. The firm owned 4,920,548 shares of the company’s stock after purchasing an additional 209,345 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Johnson & Johnson were worth $751,596,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of JNJ. Nuveen LLC acquired a new stake in Johnson & Johnson in the 1st quarter valued at approximately $1,369,188,000. Bank of New York Mellon Corp raised its holdings in shares of Johnson & Johnson by 26.4% in the first quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company’s stock valued at $3,844,580,000 after purchasing an additional 4,842,582 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Johnson & Johnson by 1,382.0% in the first quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company’s stock worth $502,509,000 after purchasing an additional 2,825,626 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Johnson & Johnson by 159.6% during the second quarter. Assenagon Asset Management S.A. now owns 4,159,260 shares of the company’s stock worth $635,327,000 after purchasing an additional 2,557,388 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new position in Johnson & Johnson in the second quarter valued at $401,420,000. Institutional investors own 69.55% of the company’s stock.

Insider Buying and Selling

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $177.81, for a total value of $10,041,108.51. Following the transaction, the executive vice president directly owned 178,013 shares of the company’s stock, valued at $31,652,491.53. This represents a 24.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Performance

JNJ opened at $190.38 on Monday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $194.48. The business has a 50 day moving average of $182.26 and a 200-day moving average of $166.37. The stock has a market cap of $458.69 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 2.24 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. Johnson & Johnson had a return on equity of 32.73% and a net margin of 27.26%.The business had revenue of $24.02 billion for the quarter. On average, equities research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 25th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $5.20 annualized dividend and a dividend yield of 2.7%. Johnson & Johnson’s payout ratio is presently 50.19%.

Analyst Ratings Changes

JNJ has been the subject of a number of recent research reports. Daiwa America upgraded shares of Johnson & Johnson from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Cowen reiterated a “buy” rating on shares of Johnson & Johnson in a report on Tuesday, October 14th. Morgan Stanley set a $190.00 price target on Johnson & Johnson in a research note on Wednesday, October 15th. Wall Street Zen upgraded Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Finally, UBS Group increased their price objective on Johnson & Johnson from $190.00 to $214.00 and gave the company a “buy” rating in a report on Tuesday, October 14th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $199.05.

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.