Park National Corp OH Sells 6,577 Shares of Johnson & Johnson (NYSE:JNJ)

Park National Corp OH lessened its position in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 2.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 280,656 shares of the company’s stock after selling 6,577 shares during the quarter. Johnson & Johnson accounts for approximately 2.4% of Park National Corp OH’s investment portfolio, making the stock its 6th largest holding. Park National Corp OH’s holdings in Johnson & Johnson were worth $49,819,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Patron Partners LLC lifted its position in shares of Johnson & Johnson by 12.7% during the 1st quarter. Patron Partners LLC now owns 6,625 shares of the company’s stock worth $1,174,000 after buying an additional 747 shares during the period. Palisade Capital Management LLC NJ lifted its position in shares of Johnson & Johnson by 0.3% during the 1st quarter. Palisade Capital Management LLC NJ now owns 93,141 shares of the company’s stock worth $16,507,000 after buying an additional 250 shares during the period. Lmcg Investments LLC bought a new position in shares of Johnson & Johnson during the 1st quarter worth approximately $12,462,000. Capital Wealth Planning LLC raised its position in Johnson & Johnson by 14.0% in the 1st quarter. Capital Wealth Planning LLC now owns 916,575 shares of the company’s stock valued at $162,445,000 after purchasing an additional 112,890 shares during the last quarter. Finally, Tandem Investment Advisors Inc. raised its position in Johnson & Johnson by 4.8% in the 1st quarter. Tandem Investment Advisors Inc. now owns 326,505 shares of the company’s stock valued at $57,867,000 after purchasing an additional 15,003 shares during the last quarter. Institutional investors and hedge funds own 68.59% of the company’s stock.

Johnson & Johnson Trading Up 1.5 %

JNJ stock opened at $167.60 on Friday. 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 twelve month low of $155.72 and a twelve month high of $186.69. The business has a fifty day moving average of $168.96 and a 200-day moving average of $174.23. The company 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 announced 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. 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 during the quarter, compared to analysts’ expectations of $23.85 billion. During the same period in the previous year, the firm earned $2.48 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, equities research analysts expect that Johnson & Johnson will post 10.7 EPS for the current year.

Johnson & Johnson announced that its Board of Directors has approved a share repurchase program on Wednesday, September 14th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 1.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Johnson & Johnson Announces Dividend

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

Analyst Ratings Changes

JNJ has been the subject of several research analyst reports. Daiwa Capital Markets initiated coverage on Johnson & Johnson in a research report on Wednesday, June 22nd. They issued an “outperform” rating for the company. UBS Group cut their price objective on Johnson & Johnson from $185.00 to $180.00 in a research report on Thursday, July 21st. Morgan Stanley cut their price objective on 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 objective on Johnson & Johnson from $190.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, July 13th. Finally, Citigroup dropped their target price on Johnson & Johnson from $205.00 to $201.00 in a research report on Wednesday, July 20th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $189.78.

Johnson & Johnson Profile

(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.

See Also

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.