West Branch Capital LLC trimmed its position in Johnson & Johnson (NYSE:JNJ – Get Rating) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,900 shares of the company’s stock after selling 563 shares during the period. Johnson & Johnson comprises 1.9% of West Branch Capital LLC’s portfolio, making the stock its 10th biggest holding. West Branch Capital LLC’s holdings in Johnson & Johnson were worth $4,059,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of JNJ. Family CFO Inc purchased a new position in Johnson & Johnson in the fourth quarter worth about $26,000. Steward Financial Group LLC bought a new position in shares of Johnson & Johnson in the fourth quarter worth about $34,000. Joseph P. Lucia & Associates LLC bought a new position in shares of Johnson & Johnson in the first quarter worth about $38,000. Advocacy Wealth Management Services LLC raised its stake in shares of Johnson & Johnson by 41.4% in the first quarter. Advocacy Wealth Management Services LLC now owns 229 shares of the company’s stock worth $41,000 after buying an additional 67 shares during the period. Finally, Gibson Wealth Advisors LLC bought a new position in shares of Johnson & Johnson in the fourth quarter worth about $49,000. 68.78% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on JNJ shares. Citigroup decreased their price objective on Johnson & Johnson from $205.00 to $201.00 in a research note on Wednesday, July 20th. Morgan Stanley lifted their target price on Johnson & Johnson from $173.00 to $174.00 and gave the company an “equal weight” rating in a research note on Friday, July 8th. UBS Group decreased their target price on Johnson & Johnson from $185.00 to $180.00 in a research note on Thursday, July 21st. Raymond James lifted their target price on Johnson & Johnson from $195.00 to $196.00 and gave the company an “outperform” rating in a research note on Wednesday, April 20th. Finally, SVB Leerink decreased their target price on Johnson & Johnson from $200.00 to $194.00 in a research note on Wednesday, July 20th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and an average target price of $189.89.
Johnson & Johnson Price Performance
Johnson & Johnson (NYSE:JNJ – Get Rating) last announced its earnings results on Tuesday, July 19th. The company reported $2.59 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.02. The firm had revenue of $24.02 billion during the quarter, compared to analysts’ expectations of $23.85 billion. Johnson & Johnson had a return on equity of 36.56% and a net margin of 19.21%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.48 EPS. Equities analysts expect that Johnson & Johnson will post 10.05 EPS for the current year.
Johnson & Johnson Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd will be issued a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend is Monday, August 22nd. Johnson & Johnson’s payout ratio is currently 65.79%.
Insider Activity at Johnson & Johnson
In related news, EVP Kathryn E. Wengel sold 40,000 shares of the business’s stock in a transaction on Friday, June 10th. The stock was sold at an average price of $173.00, for a total transaction of $6,920,000.00. Following the completion of the transaction, the executive vice president now owns 71,311 shares in the company, valued at approximately $12,336,803. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Johnson & Johnson news, EVP Kathryn E. Wengel sold 40,000 shares of Johnson & Johnson stock in a transaction on Friday, June 10th. The stock was sold at an average price of $173.00, for a total transaction of $6,920,000.00. Following the completion of the sale, the executive vice president now directly owns 71,311 shares of the company’s stock, valued at approximately $12,336,803. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Robert J. Decker sold 8,462 shares of Johnson & Johnson stock in a transaction on Thursday, May 26th. The shares were sold at an average price of $180.00, for a total value of $1,523,160.00. Following the sale, the chief accounting officer now directly owns 15,473 shares of the company’s stock, valued at $2,785,140. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.
About Johnson & Johnson
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment offers baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.
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