Fruth Investment Management cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 1.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,823 shares of the company’s stock after selling 325 shares during the quarter. Johnson & Johnson makes up 1.5% of Fruth Investment Management’s portfolio, making the stock its 13th largest holding. Fruth Investment Management’s holdings in Johnson & Johnson were worth $3,729,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently bought and sold shares of the company. Billeaud Capital Management Inc. grew its holdings in Johnson & Johnson by 0.4% in the 2nd quarter. Billeaud Capital Management Inc. now owns 44,014 shares of the company’s stock worth $6,130,000 after buying an additional 169 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in Johnson & Johnson by 11.1% in the 2nd quarter. Meeder Asset Management Inc. now owns 109,690 shares of the company’s stock worth $15,277,000 after buying an additional 10,927 shares in the last quarter. Archford Capital Strategies LLC grew its holdings in Johnson & Johnson by 11.2% in the 2nd quarter. Archford Capital Strategies LLC now owns 21,997 shares of the company’s stock worth $3,064,000 after buying an additional 2,211 shares in the last quarter. Marino Stram & Associates LLC grew its holdings in Johnson & Johnson by 1.2% in the 2nd quarter. Marino Stram & Associates LLC now owns 32,199 shares of the company’s stock worth $4,485,000 after buying an additional 380 shares in the last quarter. Finally, Palisades Hudson Asset Management L.P. grew its holdings in Johnson & Johnson by 42.6% in the 2nd quarter. Palisades Hudson Asset Management L.P. now owns 2,241 shares of the company’s stock worth $312,000 after buying an additional 669 shares in the last quarter. 72.01% of the stock is owned by institutional investors.
JNJ has been the subject of a number of recent analyst reports. Zacks Investment Research lowered Johnson & Johnson from a “buy” rating to a “hold” rating and set a $139.00 price objective for the company. in a report on Thursday, July 18th. Goldman Sachs Group set a $169.00 price objective on Johnson & Johnson and gave the stock a “buy” rating in a report on Tuesday, August 27th. Raymond James decreased their price objective on Johnson & Johnson from $147.00 to $146.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Royal Bank of Canada reissued a “buy” rating on shares of Johnson & Johnson in a report on Tuesday, July 16th. Finally, Barclays initiated coverage on Johnson & Johnson in a report on Friday, June 21st. They issued a “hold” rating and a $140.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $150.60.
JNJ traded down $2.62 during trading on Wednesday, reaching $129.22. The stock had a trading volume of 7,787,365 shares, compared to its average volume of 7,077,218. The firm has a market capitalization of $352.75 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 2.26 and a beta of 0.69. The company has a quick ratio of 1.04, a current ratio of 1.33 and a debt-to-equity ratio of 0.46. Johnson & Johnson has a 1-year low of $121.00 and a 1-year high of $148.99. The stock has a 50 day moving average of $130.02 and a two-hundred day moving average of $135.08.
Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, July 16th. The company reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.16. The firm had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $20.39 billion. Johnson & Johnson had a return on equity of 38.63% and a net margin of 20.08%. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.10 earnings per share. On average, research analysts forecast that Johnson & Johnson will post 8.6 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were given a $0.95 dividend. The ex-dividend date was Monday, August 26th. This represents a $3.80 dividend on an annualized basis and a yield of 2.94%. Johnson & Johnson’s dividend payout ratio (DPR) is 46.45%.
About Johnson & Johnson
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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