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 its latest filing with the Securities & Exchange Commission. After acquiring an additional 7,110 shares, the institutional investor now holds a total of 111,448 shares in the company.

Johnson & Johnson constitutes approximately 0.8% of Vinva Investment Management Ltd's overall portfolio, ranking as the 20th largest holding. As of the most recent filing with the SEC, the value of this stake in Johnson & Johnson stands at $17,988,000.

Other Institutional Investments

In addition to Vinva Investment Management, several other institutional investors have adjusted their positions in Johnson & Johnson recently. For instance, Strategic Wealth Partners Ltd raised its stake by 26.7% during the first quarter, now owning 6,077 shares valued at $961,000 after acquiring 1,280 more shares.

Raelipskie Partnership increased its holdings by 3.9% in the first quarter, reaching 14,090 shares worth $2,229,000 after purchasing an additional 531 shares. Community Trust & Investment Co. also raised its position by 0.9%, holding 96,066 shares valued at $15,197,000 following a purchase of 877 shares.

Cetera Investment Advisers significantly lifted its stake in Johnson & Johnson by 224.0% during the same quarter, acquiring 707,273 shares valued at $111,884,000 after adding 488,955 shares. Similarly, Cetera Advisors LLC increased its investment by 71.6%, now owning 274,630 shares worth $43,444,000 after purchasing 114,547 shares.

Overall, institutional investors and hedge funds collectively own 69.55% of Johnson & Johnson's stock.

Analyst Insights

Various brokerage firms have recently provided updated ratings for Johnson & Johnson. Wells Fargo & Company increased its price target for the stock from $163.00 to $166.00 while maintaining an "equal weight" rating. Morgan Stanley raised its price target from $169.00 to $175.00, also giving the stock an "equal weight" rating.

Cantor Fitzgerald has reiterated an "overweight" rating with a price objective set at $215.00. In a separate report, Guggenheim lifted its target price from $156.00 to $162.00 while assigning a "neutral" rating. Finally, Citigroup raised its target from $180.00 to $185.00 and rated the stock as a "buy." Currently, a total of seven analysts have a hold rating, eight have assigned a buy rating, and one analyst has given a strong buy rating to the stock. The average consensus rating across research platforms is "Moderate Buy," with a target price average of $175.94.

Current Market Performance

On Thursday, Johnson & Johnson shares opened at $155.39. The stock has fluctuated between a low of $143.13 and a high of $168.85 over the past year. It currently has a fifty-day moving average price of $159.52 and a 200-day moving average of $156.38. The company has a market capitalization of $374.12 billion, a PE ratio of 22.49, and a P/E/G ratio of 2.77.

Johnson & Johnson recently reported its quarterly earnings data, revealing earnings per share of $2.42, surpassing the consensus estimate of $2.21. The company's revenue for the quarter was reported at $22.47 billion, exceeding analyst projections of $22.17 billion. Compared to the same quarter last year, revenue increased by 5.2%.

Dividend Announcement

Moreover, Johnson & Johnson announced its upcoming quarterly dividend of $1.24, which will be paid on December 10th to shareholders on record as of November 26th. This equates to an annualized dividend of $4.96 and a yield of approximately 3.19%. The ex-dividend date is also set for November 26th, and the company's payout ratio currently stands at 71.78%.

Insider Activity

In related news, VP Robert J. Decker recently sold 5,635 shares of Johnson & Johnson's stock in a transaction valued at $930,113.10, based on an average sale price of $165.06. This sale decreased his ownership in the company by 22.90%, and he holds 18,973 shares valued at approximately $3,131,683.38.

About Johnson & Johnson

Johnson & Johnson, along with its subsidiaries, engages in the research, development, manufacturing, and sale of various healthcare products globally. It is well-known for its Innovative Medicine segment, which provides products across multiple therapeutic areas such as immunology, infectious diseases, neuroscience, oncology, and cardiovascular health.

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