Enterprise Bank & Trust Co Lowers Stake in Johnson & Johnson (NYSE:JNJ)

Enterprise Bank & Trust Co lowered its stake in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 8.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,637 shares of the company’s stock after selling 1,062 shares during the period. Enterprise Bank & Trust Co’s holdings in Johnson & Johnson were worth $2,066,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Hoylecohen LLC increased its position in shares of Johnson & Johnson by 8.8% in the 4th quarter. Hoylecohen LLC now owns 136,846 shares of the company’s stock valued at $23,410,000 after acquiring an additional 11,124 shares during the period. True North Advisors LLC acquired a new position in shares of Johnson & Johnson in the 4th quarter valued at $6,808,000. Asset Allocation & Management Company LLC acquired a new position in shares of Johnson & Johnson in the 4th quarter valued at $1,436,000. Alberta Investment Management Corp increased its position in shares of Johnson & Johnson by 23.8% in the 4th quarter. Alberta Investment Management Corp now owns 506,608 shares of the company’s stock valued at $86,665,000 after acquiring an additional 97,467 shares during the period. Finally, MKT Advisors LLC acquired a new position in shares of Johnson & Johnson in the 4th quarter valued at $508,000. Hedge funds and other institutional investors own 68.59% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on JNJ shares. SVB Leerink cut their target price on Johnson & Johnson from $200.00 to $194.00 in a research report on Wednesday, July 20th. Wells Fargo & Company upped their price target on shares of Johnson & Johnson from $190.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, July 13th. Daiwa Capital Markets began coverage on shares of Johnson & Johnson in a report on Wednesday, June 22nd. They issued an “outperform” rating on the stock. UBS Group lowered their price target on shares of Johnson & Johnson from $185.00 to $180.00 in a report on Thursday, July 21st. Finally, Morgan Stanley lowered their price target on shares of Johnson & Johnson from $174.00 to $173.00 and set an “equal weight” rating on the stock in a report on Monday, September 12th. Four 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $189.78.

Johnson & Johnson Trading Up 1.5 %

JNJ 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. The company has a quick ratio of 1.17, a current ratio of 1.42 and a debt-to-equity ratio of 0.37. Johnson & Johnson has a 52-week low of $155.72 and a 52-week high of $186.69. The firm has a market cap of $440.65 billion, a P/E ratio of 24.40, a PEG ratio of 2.95 and a beta of 0.61.

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

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Investors 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 dividend payout ratio is presently 65.79%.

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 repurchase up to 1.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

About Johnson & Johnson

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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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