Virginia Retirement Systems Adds $214.9M Johnson & Johnson Stake; Financial Consulate Buys $624K
Virginia Retirement Systems increased its Johnson & Johnson stake by 127,100 shares to 1,158,903 shares, valuing its position at $214.9 million at the end of Q3. Financial Consulate Inc. initiated a stake of 3,364 shares worth approximately $624,000 in the same quarter as other institutions adjusted their holdings.
1. Financial Consulate Inc. Makes New 3,364-Share Purchase
In the third quarter, Financial Consulate Inc. acquired 3,364 shares of Johnson & Johnson, establishing a new position valued at approximately $624,000, according to its latest Form 13F filing with the SEC. This purchase represents a strategic addition to the firm’s healthcare allocation and underscores confidence in Johnson & Johnson’s diversified revenue streams across pharmaceuticals, medical devices and consumer health. The filing also shows that institutional ownership of the company stands at 69.55%, reflecting broad support from professional money managers.
2. Virginia Retirement Systems Increases Stake by 127,100 Shares
During the same period, Virginia Retirement Systems et al lifted its shareholding in Johnson & Johnson by 12.3%, purchasing an additional 127,100 shares to reach a total holding of 1,158,903 shares. That position, representing 1.4% of the fund’s total assets, was valued at $214.9 million at quarter-end, making Johnson & Johnson the fund’s ninth-largest equity holding. This sizable commitment highlights the pension plan’s belief in the company’s durable cash flows and long-term dividend growth potential.
3. Quarterly Dividend Raised to $1.30 per Share
Johnson & Johnson declared a quarterly dividend of $1.30 per share, payable on March 10 to shareholders of record as of February 24. This increase brings the annualized payout to $5.20 per share, yielding 2.5% on the company’s shares and reflecting a payout ratio of 50.2%. The company has now increased its dividend for 63 consecutive years, maintaining its status as a Dividend King and reinforcing its commitment to returning capital to shareholders.
4. Analysts Maintain Strong Buy Consensus with Raised Targets
A total of 27 research analysts cover Johnson & Johnson, including four with Strong Buy ratings, fourteen with Buy and nine with Hold. UBS and Guggenheim recently lifted their price objectives to $214 and $227 respectively, while BMO Capital Markets and Cowen reaffirmed outperform and buy recommendations. The consensus target stands at $211.25, indicating upside potential based on current earnings estimates and reflecting analyst confidence in the company’s mid-single-digit organic growth and margin expansion initiatives.