Virginia National Bank Cuts Stake in Johnson & Johnson (NYSE:JNJ)

Virginia National Bank reduced its stake in Johnson & Johnson (NYSE:JNJGet Rating) by 11.1% during the second quarter, Holdings Channel.com reports. The institutional investor owned 1,536 shares of the company’s stock after selling 192 shares during the period. Virginia National Bank’s holdings in Johnson & Johnson were worth $273,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in JNJ. Family CFO Inc purchased a new stake in Johnson & Johnson during the fourth quarter valued at about $26,000. RE Dickinson Investment Advisors LLC lifted its holdings in Johnson & Johnson by 163.3% during the first quarter. RE Dickinson Investment Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after purchasing an additional 98 shares during the last quarter. Advanced Research Investment Solutions LLC lifted its holdings in Johnson & Johnson by 200.0% during the first quarter. Advanced Research Investment Solutions LLC now owns 180 shares of the company’s stock valued at $32,000 after purchasing an additional 120 shares during the last quarter. Professional Financial Advisors LLC lifted its holdings in Johnson & Johnson by 47.9% during the first quarter. Professional Financial Advisors LLC now owns 210 shares of the company’s stock valued at $37,000 after purchasing an additional 68 shares during the last quarter. Finally, Joseph P. Lucia & Associates LLC bought a new stake in shares of Johnson & Johnson during the first quarter valued at about $38,000. 68.59% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Up 1.5 %

JNJ stock opened at $167.60 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.17 and a debt-to-equity ratio of 0.37. The company’s 50 day moving average is $168.96 and its 200 day moving average is $174.23. The stock has a market cap of $440.65 billion, a price-to-earnings ratio of 24.40, a price-to-earnings-growth ratio of 2.95 and a beta of 0.61. Johnson & Johnson has a 1-year low of $155.72 and a 1-year high of $186.69.

Johnson & Johnson (NYSE:JNJGet Rating) last posted its quarterly earnings data on Tuesday, July 19th. The company reported $2.59 earnings per share 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 company had revenue of $24.02 billion for the quarter, compared to analysts’ expectations of $23.85 billion. During the same period in the prior year, the business earned $2.48 earnings per share. Johnson & Johnson’s revenue for the quarter was up 3.0% compared to the same quarter last year. Sell-side analysts predict that Johnson & Johnson will post 10.7 EPS for the current fiscal year.

Johnson & Johnson declared that its Board of Directors has approved a share repurchase plan on Wednesday, September 14th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 1.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 23rd were given a dividend of $1.13 per share. 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

JNJ has been the topic of several analyst reports. Citigroup decreased their price target on Johnson & Johnson from $205.00 to $201.00 in a research report on Wednesday, July 20th. Morgan Stanley decreased their price target on Johnson & Johnson from $174.00 to $173.00 and set an “equal weight” rating on the stock in a research report on Monday, September 12th. SVB Leerink decreased their price target 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 Johnson & Johnson from $190.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, July 13th. Finally, Daiwa Capital Markets started coverage on Johnson & Johnson in a research report on Wednesday, June 22nd. They set an “outperform” rating on the stock. Four 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $189.78.

Johnson & Johnson Company 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.

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)

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