Harvey Investment Co. LLC lowered its position in shares of Johnson & Johnson (NYSE:JNJ) by 0.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 236,130 shares of the company’s stock after selling 1,281 shares during the quarter. Johnson & Johnson accounts for 6.1% of Harvey Investment Co. LLC’s holdings, making the stock its 2nd biggest position. Harvey Investment Co. LLC’s holdings in Johnson & Johnson were worth $30,699,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Hermes Investment Management Ltd. boosted its holdings in shares of Johnson & Johnson by 6.8% in the 3rd quarter. Hermes Investment Management Ltd. now owns 35,464 shares of the company’s stock valued at $4,611,000 after buying an additional 2,270 shares during the last quarter. Montrusco Bolton Investments Inc. boosted its holdings in shares of Johnson & Johnson by 47.6% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 69,860 shares of the company’s stock valued at $9,082,000 after buying an additional 22,527 shares during the last quarter. Moloney Securities Asset Management LLC boosted its holdings in shares of Johnson & Johnson by 3.1% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 50,678 shares of the company’s stock valued at $6,589,000 after buying an additional 1,529 shares during the last quarter. PGGM Investments boosted its holdings in shares of Johnson & Johnson by 3.5% in the 3rd quarter. PGGM Investments now owns 2,834,847 shares of the company’s stock valued at $368,558,000 after buying an additional 95,900 shares during the last quarter. Finally, Shell Asset Management Co. boosted its holdings in shares of Johnson & Johnson by 58.7% in the 3rd quarter. Shell Asset Management Co. now owns 776,804 shares of the company’s stock valued at $82,800,000 after buying an additional 287,420 shares during the last quarter. 65.70% of the stock is owned by hedge funds and other institutional investors.
Johnson & Johnson (JNJ) traded up $0.97 during mid-day trading on Friday, reaching $145.76. The company’s stock had a trading volume of 5,450,000 shares, compared to its average volume of 5,920,000. The company has a quick ratio of 1.02, a current ratio of 1.32 and a debt-to-equity ratio of 0.36. The company has a market cap of $391,590.00, a PE ratio of 25.31, a price-to-earnings-growth ratio of 2.73 and a beta of 0.80. Johnson & Johnson has a 1 year low of $110.76 and a 1 year high of $146.42.
Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, October 17th. The company reported $1.90 EPS for the quarter, topping the Zacks’ consensus estimate of $1.80 by $0.10. Johnson & Johnson had a return on equity of 27.38% and a net margin of 21.28%. The company had revenue of $19.65 billion for the quarter, compared to analysts’ expectations of $19.29 billion. During the same quarter last year, the business earned $1.68 earnings per share. Johnson & Johnson’s revenue was up 10.3% on a year-over-year basis. equities research analysts expect that Johnson & Johnson will post 7.28 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 13th. Investors of record on Tuesday, February 27th will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Monday, February 26th. Johnson & Johnson’s payout ratio is currently 58.33%.
JNJ has been the subject of several research reports. Cowen reaffirmed an “outperform” rating and set a $155.00 price target (up previously from $147.00) on shares of Johnson & Johnson in a report on Wednesday, October 18th. Jefferies Group raised their price target on Johnson & Johnson from $157.00 to $160.00 and gave the company a “buy” rating in a report on Monday, October 16th. Zacks Investment Research raised Johnson & Johnson from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. Credit Suisse Group set a $154.00 price target on Johnson & Johnson and gave the company an “outperform” rating in a report on Thursday, October 19th. Finally, Barclays raised their price target on Johnson & Johnson from $140.00 to $148.00 and gave the company an “equal weight” rating in a report on Wednesday, October 18th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $145.94.
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About Johnson & Johnson
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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