Provident Investment Management Inc. lifted its position in Johnson & Johnson (NYSE:JNJ) by 70.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 10,097 shares of the company’s stock after purchasing an additional 4,173 shares during the period. Provident Investment Management Inc.’s holdings in Johnson & Johnson were worth $1,225,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in JNJ. Massachusetts Financial Services Co. MA raised its stake in Johnson & Johnson by 1.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 30,303,272 shares of the company’s stock valued at $3,676,999,000 after purchasing an additional 541,338 shares in the last quarter. Fisher Asset Management LLC raised its stake in Johnson & Johnson by 3.8% in the second quarter. Fisher Asset Management LLC now owns 13,118,604 shares of the company’s stock valued at $1,591,811,000 after purchasing an additional 478,982 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Johnson & Johnson by 4.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,978,198 shares of the company’s stock valued at $1,089,415,000 after purchasing an additional 387,504 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Johnson & Johnson by 9.5% in the first quarter. Dimensional Fund Advisors LP now owns 7,552,034 shares of the company’s stock valued at $967,793,000 after purchasing an additional 654,350 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Johnson & Johnson by 11.0% in the first quarter. The Manufacturers Life Insurance Company now owns 7,080,648 shares of the company’s stock valued at $907,384,000 after purchasing an additional 702,986 shares in the last quarter. 66.51% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE JNJ opened at $146.03 on Thursday. Johnson & Johnson has a one year low of $118.62 and a one year high of $148.99. The company has a current ratio of 1.72, a quick ratio of 1.40 and a debt-to-equity ratio of 0.46. The company has a market cap of $391.78 billion, a price-to-earnings ratio of 20.00, a price-to-earnings-growth ratio of 2.28 and a beta of 0.59.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, October 16th. The company reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. Johnson & Johnson had a net margin of 1.89% and a return on equity of 34.62%. The business had revenue of $20.35 billion for the quarter, compared to analysts’ expectations of $20.05 billion. During the same period last year, the business earned $1.90 earnings per share. The business’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, sell-side analysts predict that Johnson & Johnson will post 8.16 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 11th. Shareholders of record on Tuesday, November 27th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Monday, November 26th. Johnson & Johnson’s payout ratio is currently 49.32%.

In other news, CAO Ronald A. Kapusta sold 7,899 shares of the firm’s stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $137.18, for a total value of $1,083,584.82. Following the transaction, the chief accounting officer now owns 25,725 shares in the company, valued at $3,528,955.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Alex Gorsky sold 264,465 shares of the firm’s stock in a transaction that occurred on Friday, November 16th. The stock was sold at an average price of $145.96, for a total transaction of $38,601,311.40. Following the completion of the transaction, the chief executive officer now owns 481,254 shares in the company, valued at approximately $70,243,833.84. The disclosure for this sale can be found here. Insiders have sold 351,748 shares of company stock worth $51,092,647 over the last quarter. Company insiders own 0.22% of the company’s stock.

JNJ has been the topic of a number of recent analyst reports. Raymond James raised their target price on shares of Johnson & Johnson from $144.00 to $149.00 and gave the company an “outperform” rating in a research note on Wednesday, October 17th. Credit Suisse Group raised their target price on shares of Johnson & Johnson from $149.00 to $152.00 and gave the company an “outperform” rating in a research note on Wednesday, October 17th. Citigroup raised their target price on shares of Johnson & Johnson from $137.00 to $148.00 and gave the company a “neutral” rating in a research note on Monday, October 22nd. Zacks Investment Research downgraded shares of Johnson & Johnson from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and issued a $160.00 target price (up from $155.00) on shares of Johnson & Johnson in a research note on Wednesday, October 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $143.90.

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About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. Its 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, RoC, 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.

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

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