Johnson & Johnson (NYSE:JNJ) is Summit Financial Group Inc.’s 4th Largest Position

Summit Financial Group Inc. trimmed its position in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 1.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 39,217 shares of the company’s stock after selling 745 shares during the quarter. Johnson & Johnson comprises about 2.7% of Summit Financial Group Inc.’s investment portfolio, making the stock its 4th largest holding. Summit Financial Group Inc.’s holdings in Johnson & Johnson were worth $6,961,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Johnson & Johnson by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 238,141,110 shares of the company’s stock valued at $42,205,749,000 after purchasing an additional 3,358,478 shares during the last quarter. BlackRock Inc. raised its position in shares of Johnson & Johnson by 0.4% in the 1st quarter. BlackRock Inc. now owns 200,799,189 shares of the company’s stock valued at $35,587,638,000 after purchasing an additional 777,837 shares during the last quarter. State Street Corp raised its position in shares of Johnson & Johnson by 1.8% in the 4th quarter. State Street Corp now owns 144,677,639 shares of the company’s stock valued at $24,750,004,000 after purchasing an additional 2,492,359 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Johnson & Johnson by 0.8% in the 1st quarter. Wellington Management Group LLP now owns 32,772,594 shares of the company’s stock valued at $5,808,286,000 after purchasing an additional 265,330 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Johnson & Johnson by 1.6% in the 1st quarter. Bank of New York Mellon Corp now owns 32,070,396 shares of the company’s stock valued at $5,683,837,000 after purchasing an additional 509,818 shares during the last quarter. 68.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

JNJ has been the topic of several research reports. Wells Fargo & Company increased their price target on shares of Johnson & Johnson from $190.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, July 13th. Morgan Stanley cut 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. Citigroup cut their price target on shares of Johnson & Johnson from $205.00 to $201.00 in a report on Wednesday, July 20th. UBS Group cut their price target on shares of Johnson & Johnson from $185.00 to $180.00 in a report on Thursday, July 21st. Finally, SVB Leerink cut their price target on shares of Johnson & Johnson from $200.00 to $194.00 in a report on Wednesday, July 20th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $189.78.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $167.60 on Friday. The stock 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. Johnson & Johnson has a 12 month low of $155.72 and a 12 month high of $186.69. The firm’s 50 day simple moving average is $168.96 and its 200-day simple moving average is $174.23. 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 (NYSE:JNJGet Rating) last issued its quarterly earnings data on Tuesday, July 19th. The company reported $2.59 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.02. The business had revenue of $24.02 billion for the quarter, compared to analysts’ expectations of $23.85 billion. Johnson & Johnson had a net margin of 19.21% and a return on equity of 36.14%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company earned $2.48 EPS. Analysts expect that Johnson & Johnson will post 10.7 EPS for the current year.

Johnson & Johnson announced that its board has initiated a share repurchase 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 generally a sign that the company’s board believes its shares are undervalued.

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. The ex-dividend date was Monday, August 22nd. This represents a $4.52 dividend on an annualized basis and a yield of 2.70%. Johnson & Johnson’s dividend payout ratio is currently 65.79%.

About Johnson & Johnson

(Get Rating)

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.

Further Reading

Want to see what other hedge funds are holding JNJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Johnson & Johnson (NYSE:JNJGet Rating).

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

Receive News & Ratings for Johnson & Johnson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Johnson & Johnson and related companies with MarketBeat.com's FREE daily email newsletter.