Boltwood Capital Management Decreases Holdings in Johnson & Johnson (NYSE:JNJ)

Boltwood Capital Management trimmed its position in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 0.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 8,952 shares of the company’s stock after selling 68 shares during the quarter. Boltwood Capital Management’s holdings in Johnson & Johnson were worth $1,589,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Epiq Partners LLC increased its stake in Johnson & Johnson by 18.6% in the 2nd quarter. Epiq Partners LLC now owns 17,695 shares of the company’s stock worth $3,141,000 after purchasing an additional 2,776 shares during the period. Cherrydale Wealth Management LLC grew its position in shares of Johnson & Johnson by 6.3% in the 2nd quarter. Cherrydale Wealth Management LLC now owns 1,391 shares of the company’s stock worth $247,000 after buying an additional 83 shares during the last quarter. Crestwood Advisors Group LLC grew its position in shares of Johnson & Johnson by 12.1% in the 2nd quarter. Crestwood Advisors Group LLC now owns 459,173 shares of the company’s stock worth $81,508,000 after buying an additional 49,696 shares during the last quarter. Centre Asset Management LLC grew its position in shares of Johnson & Johnson by 43.1% in the 2nd quarter. Centre Asset Management LLC now owns 27,947 shares of the company’s stock worth $4,961,000 after buying an additional 8,423 shares during the last quarter. Finally, E&G Advisors LP grew its position in shares of Johnson & Johnson by 1.2% in the 2nd quarter. E&G Advisors LP now owns 8,531 shares of the company’s stock worth $1,514,000 after buying an additional 100 shares during the last quarter. 68.59% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock opened at $167.60 on Friday. The stock has a 50 day moving average of $168.96 and a 200 day moving average of $174.23. Johnson & Johnson has a 12 month low of $155.72 and a 12 month high of $186.69. The firm has a market cap of $440.65 billion, a PE ratio of 24.40, a PEG ratio of 2.95 and a beta of 0.61. The company has a current ratio of 1.42, a quick ratio of 1.17 and a debt-to-equity ratio of 0.37.

Johnson & Johnson (NYSE:JNJGet Rating) last issued its quarterly earnings data on Tuesday, July 19th. The company reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.02. Johnson & Johnson had a return on equity of 36.14% and a net margin of 19.21%. The business had revenue of $24.02 billion for the quarter, compared to the consensus estimate of $23.85 billion. During the same period in the prior year, the business posted $2.48 earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, research analysts expect that Johnson & Johnson will post 10.7 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd were paid a $1.13 dividend. The ex-dividend date was Monday, August 22nd. This represents a $4.52 annualized dividend and a yield of 2.70%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 65.79%.

Johnson & Johnson announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, September 14th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 1.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. SVB Leerink dropped their price target on Johnson & Johnson from $200.00 to $194.00 in a research report on Wednesday, July 20th. Citigroup lowered their price objective on Johnson & Johnson from $205.00 to $201.00 in a research note on Wednesday, July 20th. Wells Fargo & Company lifted their price objective on Johnson & Johnson from $190.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, July 13th. Morgan Stanley lowered their price objective on Johnson & Johnson from $174.00 to $173.00 and set an “equal weight” rating for the company in a research note on Monday, September 12th. Finally, UBS Group decreased their price target on Johnson & Johnson from $185.00 to $180.00 in a research note on Thursday, July 21st. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $189.78.

Johnson & Johnson Profile

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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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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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