Capital Investment Services of America Inc. reduced its position in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 19.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 7,100 shares of the company’s stock after selling 1,708 shares during the period. Capital Investment Services of America Inc.’s holdings in Johnson & Johnson were worth $1,260,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Family CFO Inc acquired a new stake in Johnson & Johnson in the 4th quarter valued at about $26,000. RE Dickinson Investment Advisors LLC increased its position in Johnson & Johnson by 163.3% in the 1st quarter. RE Dickinson Investment Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after acquiring an additional 98 shares in the last quarter. Advanced Research Investment Solutions LLC increased its position in Johnson & Johnson by 200.0% in the 1st quarter. Advanced Research Investment Solutions LLC now owns 180 shares of the company’s stock valued at $32,000 after acquiring an additional 120 shares in the last quarter. Professional Financial Advisors LLC increased its position in Johnson & Johnson by 47.9% in the 1st quarter. Professional Financial Advisors LLC now owns 210 shares of the company’s stock valued at $37,000 after acquiring an additional 68 shares in the last quarter. Finally, Joseph P. Lucia & Associates LLC acquired a new stake in Johnson & Johnson in the 1st quarter valued at about $38,000. 68.59% of the stock is owned by institutional investors.
Johnson & Johnson Stock Up 1.5 %
Johnson & Johnson stock opened at $167.60 on Friday. The company’s 50 day simple moving average is $168.96 and its 200 day simple moving average is $174.23. Johnson & Johnson has a fifty-two week low of $155.72 and a fifty-two week high of $186.69. The firm has a market capitalization of $440.65 billion, a price-to-earnings ratio of 24.40, a PEG ratio of 2.95 and a beta of 0.61. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.42 and a quick ratio of 1.17.
Johnson & Johnson declared that its Board of Directors has authorized a share buyback plan on Wednesday, September 14th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 1.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
Johnson & Johnson Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 23rd were paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date was Monday, August 22nd. Johnson & Johnson’s payout ratio is currently 65.79%.
Analyst Ratings Changes
Several equities research analysts have weighed in on the stock. Citigroup lowered their price objective on shares of Johnson & Johnson from $205.00 to $201.00 in a research report on Wednesday, July 20th. UBS Group lowered their price target on shares of Johnson & Johnson from $185.00 to $180.00 in a research report on Thursday, July 21st. Morgan Stanley lowered their price target on shares of Johnson & Johnson from $174.00 to $173.00 and set an “equal weight” rating for the company in a research report on Monday, September 12th. Wells Fargo & Company lifted their price target on shares of Johnson & Johnson from $190.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 13th. Finally, Daiwa Capital Markets initiated coverage on shares of Johnson & Johnson in a research report on Wednesday, June 22nd. They set an “outperform” rating for the company. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus price target of $189.78.
Johnson & Johnson Company Profile
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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