Old Port Advisors cut its stake in Johnson & Johnson (NYSE:JNJ) by 13.2% in the second quarter, Holdings Channel reports. The fund owned 4,726 shares of the company’s stock after selling 720 shares during the period. Old Port Advisors’ holdings in Johnson & Johnson were worth $672,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of JNJ. Highwater Wealth Management LLC bought a new stake in Johnson & Johnson in the fourth quarter worth $215,000. Steward Partners Investment Advisory LLC increased its position in Johnson & Johnson by 25.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 166,191 shares of the company’s stock worth $21,447,000 after purchasing an additional 33,496 shares during the last quarter. Aries Wealth Management increased its position in Johnson & Johnson by 0.7% in the fourth quarter. Aries Wealth Management now owns 13,897 shares of the company’s stock worth $1,793,000 after purchasing an additional 102 shares during the last quarter. BKD Wealth Advisors LLC increased its position in Johnson & Johnson by 2.2% in the fourth quarter. BKD Wealth Advisors LLC now owns 41,344 shares of the company’s stock worth $5,335,000 after purchasing an additional 887 shares during the last quarter. Finally, RNC Capital Management LLC increased its position in Johnson & Johnson by 2.5% in the fourth quarter. RNC Capital Management LLC now owns 235,320 shares of the company’s stock worth $30,368,000 after purchasing an additional 5,832 shares during the last quarter. 66.82% of the stock is owned by institutional investors and hedge funds.
In related news, Director Marillyn A. Hewson bought 3,000 shares of the stock in a transaction dated Tuesday, June 11th. The stock was purchased at an average cost of $139.68 per share, with a total value of $419,040.00. Following the completion of the purchase, the director now owns 3,000 shares of the company’s stock, valued at $419,040. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.23% of the stock is currently owned by insiders.
Several brokerages recently weighed in on JNJ. Credit Suisse Group set a $156.00 price target on shares of Johnson & Johnson and gave the stock a “buy” rating in a research report on Thursday, July 18th. Barclays began coverage on shares of Johnson & Johnson in a research report on Friday, June 21st. They issued a “hold” rating and a $140.00 price target on the stock. Royal Bank of Canada restated a “buy” rating on shares of Johnson & Johnson in a research report on Tuesday, July 16th. Goldman Sachs Group initiated coverage on shares of Johnson & Johnson in a research note on Tuesday, May 28th. They set a “buy” rating for the company. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and set a $157.00 price objective (up from $152.00) on shares of Johnson & Johnson in a research note on Monday, May 6th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $148.56.
NYSE JNJ traded down $1.27 on Monday, hitting $129.80. 1,185,390 shares of the stock were exchanged, compared to its average volume of 7,695,500. The company has a quick ratio of 1.13, a current ratio of 1.33 and a debt-to-equity ratio of 0.46. The business has a fifty day moving average price of $136.70. The stock has a market capitalization of $345.92 billion, a price-to-earnings ratio of 15.87, a P/E/G ratio of 2.22 and a beta of 0.69. Johnson & Johnson has a 52-week low of $121.00 and a 52-week high of $148.99.
Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, July 16th. The company reported $2.58 EPS for the quarter, topping the consensus estimate of $2.42 by $0.16. The company had revenue of $20.56 billion during the quarter, compared to analyst estimates of $20.39 billion. Johnson & Johnson had a net margin of 20.08% and a return on equity of 38.63%. Johnson & Johnson’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.10 earnings per share. On average, research analysts forecast that Johnson & Johnson will post 8.6 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Monday, August 26th. Johnson & Johnson’s dividend payout ratio is currently 46.45%.
Johnson & Johnson Company Profile
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The 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, 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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