Meritage Portfolio Management lifted its stake in shares of Johnson & Johnson (NYSE:JNJ) by 2.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,192 shares of the company’s stock after purchasing an additional 2,029 shares during the quarter. Johnson & Johnson comprises about 1.3% of Meritage Portfolio Management’s investment portfolio, making the stock its 22nd largest holding. Meritage Portfolio Management’s holdings in Johnson & Johnson were worth $13,106,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of the stock. Stillwater Investment Management LLC raised its position in Johnson & Johnson by 0.8% during the first quarter. Stillwater Investment Management LLC now owns 29,914 shares of the company’s stock valued at $3,923,000 after acquiring an additional 223 shares in the last quarter. IMS Capital Management increased its holdings in shares of Johnson & Johnson by 15.2% during the 1st quarter. IMS Capital Management now owns 16,104 shares of the company’s stock valued at $2,112,000 after acquiring an additional 2,125 shares during the last quarter. Fulton Bank N.A. raised its stake in shares of Johnson & Johnson by 3.3% in the 1st quarter. Fulton Bank N.A. now owns 54,154 shares of the company’s stock valued at $7,102,000 after acquiring an additional 1,745 shares in the last quarter. Wiley BROS. Aintree Capital LLC lifted its holdings in Johnson & Johnson by 2.8% in the 1st quarter. Wiley BROS. Aintree Capital LLC now owns 5,058 shares of the company’s stock worth $663,000 after purchasing an additional 136 shares during the last quarter. Finally, Foundations Investment Advisors LLC bought a new stake in Johnson & Johnson during the first quarter worth approximately $215,000. 68.44% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Ashley Mcevoy sold 29,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $147.47, for a total value of $4,276,630.00. Following the completion of the transaction, the executive vice president now directly owns 21,682 shares of the company’s stock, valued at approximately $3,197,444.54. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.27% of the company’s stock.
Shares of Johnson & Johnson stock opened at $145.76 on Friday. Johnson & Johnson has a 52-week low of $109.16 and a 52-week high of $157.00. The firm has a market capitalization of $386.60 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 3.25 and a beta of 0.69. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.25 and a quick ratio of 1.05. The company’s fifty day moving average price is $144.04 and its two-hundred day moving average price is $144.14.
Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Thursday, July 16th. The company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.17. The business had revenue of $18.34 billion for the quarter, compared to analyst estimates of $17.73 billion. Johnson & Johnson had a net margin of 22.69% and a return on equity of 35.21%. The firm’s revenue was down 10.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.58 EPS. Analysts predict that Johnson & Johnson will post 7.85 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Tuesday, August 25th will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Monday, August 24th. Johnson & Johnson’s payout ratio is 46.54%.
JNJ has been the subject of a number of analyst reports. Stifel Nicolaus boosted their price objective on shares of Johnson & Johnson from $140.00 to $155.00 and gave the stock a “hold” rating in a research note on Wednesday, April 15th. Bank of America reissued a “buy” rating on shares of Johnson & Johnson in a research report on Monday, July 20th. Morgan Stanley raised their price target on Johnson & Johnson from $160.00 to $170.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Raymond James boosted their price objective on Johnson & Johnson from $157.00 to $158.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Finally, ValuEngine lowered Johnson & Johnson from a “hold” rating to a “sell” rating in a report on Wednesday, July 15th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $163.38.
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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