US Bancorp DE decreased its holdings in Johnson & Johnson (NYSE:JNJ) by 0.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,746,024 shares of the company’s stock after selling 8,487 shares during the quarter. Johnson & Johnson accounts for about 1.5% of US Bancorp DE’s holdings, making the stock its 11th biggest holding. US Bancorp DE’s holdings in Johnson & Johnson were worth $517,588,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the stock. Perella Weinberg Partners Capital Management LP increased its position in shares of Johnson & Johnson by 46.1% in the 3rd quarter. Perella Weinberg Partners Capital Management LP now owns 43,688 shares of the company’s stock valued at $6,036,000 after acquiring an additional 13,793 shares during the period. Camarda Financial Advisors LLC boosted its stake in shares of Johnson & Johnson by 61.9% during the 3rd quarter. Camarda Financial Advisors LLC now owns 2,575 shares of the company’s stock worth $356,000 after acquiring an additional 985 shares in the last quarter. Manitou Investment Management Ltd. boosted its stake in shares of Johnson & Johnson by 0.9% during the 3rd quarter. Manitou Investment Management Ltd. now owns 127,876 shares of the company’s stock worth $17,669,000 after acquiring an additional 1,100 shares in the last quarter. Strategic Financial Group LLC raised its position in shares of Johnson & Johnson by 8.1% during the 3rd quarter. Strategic Financial Group LLC now owns 6,105 shares of the company’s stock worth $843,000 after purchasing an additional 457 shares during the last quarter. Finally, Compass Capital Management Inc. raised its position in shares of Johnson & Johnson by 0.8% during the 3rd quarter. Compass Capital Management Inc. now owns 211,711 shares of the company’s stock worth $29,252,000 after purchasing an additional 1,645 shares during the last quarter. 68.98% of the stock is owned by institutional investors.
In related news, EVP Michael E. Sneed sold 30,943 shares of the firm’s stock in a transaction that occurred on Friday, November 23rd. The shares were sold at an average price of $142.46, for a total transaction of $4,408,139.78. Following the transaction, the executive vice president now owns 70,817 shares of the company’s stock, valued at $10,088,589.82. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Charles Prince purchased 2,000 shares of the company’s stock in a transaction dated Friday, December 14th. The stock was purchased at an average cost of $134.37 per share, for a total transaction of $268,740.00. Following the transaction, the director now owns 28,520 shares of the company’s stock, valued at $3,832,232.40. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 201,281 shares of company stock valued at $29,350,605. Corporate insiders own 0.22% of the company’s stock.
A number of analysts have commented on the stock. Barclays reiterated an “equal weight” rating and issued a $135.00 price objective (down previously from $137.00) on shares of Johnson & Johnson in a report on Wednesday, January 23rd. Zacks Investment Research cut shares of Johnson & Johnson from a “hold” rating to a “sell” rating in a research report on Wednesday, January 16th. Wells Fargo & Co reaffirmed an “outperform” rating and set a $152.00 price objective (down previously from $162.00) on shares of Johnson & Johnson in a research report on Monday, January 14th. Morgan Stanley decreased their price target on shares of Johnson & Johnson from $153.00 to $130.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 2nd. Finally, Citigroup decreased their price target on shares of Johnson & Johnson from $148.00 to $139.00 and set a “neutral” rating for the company in a research report on Wednesday, January 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $142.20.
Johnson & Johnson stock opened at $136.38 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.40 and a current ratio of 1.72. Johnson & Johnson has a 1 year low of $118.62 and a 1 year high of $148.99. The stock has a market capitalization of $365.89 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 2.15 and a beta of 0.68.
Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, January 22nd. The company reported $1.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.95 by $0.02. The business had revenue of $20.39 billion for the quarter, compared to analysts’ expectations of $20.27 billion. Johnson & Johnson had a net margin of 18.75% and a return on equity of 35.09%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.74 EPS. On average, research analysts expect that Johnson & Johnson will post 8.57 earnings per share for the current year.
Johnson & Johnson declared that its Board of Directors has initiated a share buyback program on Monday, December 17th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 1.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 26th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Monday, February 25th. This represents a $3.60 annualized dividend and a dividend yield of 2.64%. Johnson & Johnson’s dividend payout ratio (DPR) is 44.01%.
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Johnson & Johnson Profile
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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