Tukman Grossman Capital Management Inc. cut its stake in Johnson & Johnson (NYSE:JNJ) by 48.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 83,038 shares of the company’s stock after selling 79,000 shares during the quarter. Johnson & Johnson accounts for about 8.1% of Tukman Grossman Capital Management Inc.’s investment portfolio, making the stock its 3rd largest holding. Tukman Grossman Capital Management Inc.’s holdings in Johnson & Johnson were worth $10,796,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. Amarillo National Bank raised its position in shares of Johnson & Johnson by 7.3% during the third quarter. Amarillo National Bank now owns 6,071 shares of the company’s stock valued at $789,000 after buying an additional 411 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services raised its position in shares of Johnson & Johnson by 2.6% during the third quarter. First National Bank of Mount Dora Trust Investment Services now owns 53,176 shares of the company’s stock valued at $6,914,000 after buying an additional 1,350 shares during the last quarter. Curbstone Financial Management Corp raised its position in shares of Johnson & Johnson by 99.1% during the third quarter. Curbstone Financial Management Corp now owns 30,400 shares of the company’s stock valued at $3,952,000 after buying an additional 15,134 shares during the last quarter. Bogart Wealth LLC increased its position in Johnson & Johnson by 6.7% in the second quarter. Bogart Wealth LLC now owns 6,006 shares of the company’s stock worth $795,000 after purchasing an additional 378 shares during the last quarter. Finally, MPS Loria Financial Planners LLC bought a new stake in Johnson & Johnson in the second quarter worth $1,415,000. Hedge funds and other institutional investors own 65.70% of the company’s stock.
JNJ has been the topic of several research reports. Jefferies Group boosted their price target on shares of Johnson & Johnson from $157.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, October 16th. UBS Group reiterated a “buy” rating and set a $148.00 price objective on shares of Johnson & Johnson in a research report on Saturday, September 30th. Cowen set a $147.00 price objective on shares of Johnson & Johnson and gave the company a “buy” rating in a research report on Friday, October 6th. Citigroup boosted their price objective on shares of Johnson & Johnson from $140.00 to $149.00 and gave the company a “buy” rating in a research report on Monday, October 23rd. Finally, Vetr raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and set a $147.14 target price for the company in a research note on Wednesday, December 20th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $145.52.
Johnson & Johnson (NYSE:JNJ) traded up $0.82 during trading on Thursday, reaching $144.79. The company’s stock had a trading volume of 4,909,300 shares, compared to its average volume of 5,920,000. Johnson & Johnson has a 1-year low of $110.76 and a 1-year high of $145.68. The stock has a market cap of $388,980.00, a price-to-earnings ratio of 25.14, a PEG ratio of 2.67 and a beta of 0.80. The company has a current ratio of 1.32, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36.
Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, October 17th. The company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.80 by $0.10. The firm had revenue of $19.65 billion for the quarter, compared to analyst estimates of $19.29 billion. Johnson & Johnson had a return on equity of 27.38% and a net margin of 21.28%. The business’s revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.68 EPS. sell-side analysts forecast that Johnson & Johnson will post 7.28 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 13th. Shareholders of record on Tuesday, February 27th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Monday, February 26th. This represents a $3.36 dividend on an annualized basis and a yield of 2.32%. Johnson & Johnson’s payout ratio is currently 58.33%.
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Johnson & Johnson Company Profile
Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. It operates through three segments: Consumer, Pharmaceutical and Medical Devices. Its primary focus is products related to human health and well-being.
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