Trust Co. of Toledo NA OH Increases Stake in Johnson & Johnson (NYSE:JNJ)

Trust Co. of Toledo NA OH raised its holdings in Johnson & Johnson (NYSE:JNJ) by 2.1% in the third quarter, Holdings Channel reports. The fund owned 40,737 shares of the company’s stock after buying an additional 830 shares during the period. Trust Co. of Toledo NA OH’s holdings in Johnson & Johnson were worth $6,602,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Wellington Management Group LLP grew its stake in shares of Johnson & Johnson by 16.4% in the 4th quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after buying an additional 3,391,657 shares during the period. Marshall Wace LLP lifted its stake in shares of Johnson & Johnson by 506.9% in the 2nd quarter. Marshall Wace LLP now owns 3,884,962 shares of the company’s stock valued at $567,826,000 after purchasing an additional 3,244,862 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Johnson & Johnson by 16.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after purchasing an additional 3,139,499 shares during the period. Ninety One UK Ltd increased its position in shares of Johnson & Johnson by 59.0% during the 2nd quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock worth $980,579,000 after purchasing an additional 2,489,925 shares during the last quarter. Finally, Swedbank AB purchased a new stake in Johnson & Johnson in the 1st quarter valued at about $331,178,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. TD Securities lowered their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Daiwa America downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Morgan Stanley lifted their price objective on Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. The Goldman Sachs Group dropped their price objective on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Finally, Sanford C. Bernstein upped their price target on Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average target price of $173.21.

Insiders Place Their Bets

In related news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the sale, the vice president now owns 18,973 shares in the company, valued at $3,131,683.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock opened at $161.17 on Thursday. The firm’s fifty day simple moving average is $162.60 and its 200-day simple moving average is $154.26. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85. The stock has a market capitalization of $387.88 billion, a price-to-earnings ratio of 10.05, a PEG ratio of 2.69 and a beta of 0.53. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.11. The business had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.80 earnings per share. As a group, equities analysts forecast that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 30.92%.

About Johnson & Johnson

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.