City Holding Co. decreased its position in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 2.2% in the second quarter, Holdings Channel.com reports. The firm owned 32,795 shares of the company’s stock after selling 740 shares during the period. Johnson & Johnson comprises 1.1% of City Holding Co.’s holdings, making the stock its 21st largest holding. City Holding Co.’s holdings in Johnson & Johnson were worth $5,822,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Family CFO Inc bought a new position in Johnson & Johnson during the fourth quarter valued at about $26,000. RE Dickinson Investment Advisors LLC raised its position in shares of Johnson & Johnson by 163.3% during 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 during the last quarter. Advanced Research Investment Solutions LLC raised its position in shares of Johnson & Johnson by 200.0% during 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 during the last quarter. Professional Financial Advisors LLC increased its position in shares of 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 buying an additional 68 shares in the last quarter. Finally, Joseph P. Lucia & Associates LLC bought a new stake in shares of Johnson & Johnson in the 1st quarter valued at $38,000. Institutional investors and hedge funds own 68.59% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have issued reports on JNJ shares. Wells Fargo & Company increased their target price on Johnson & Johnson from $190.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, July 13th. Citigroup cut their target price on shares of Johnson & Johnson from $205.00 to $201.00 in a research note on Wednesday, July 20th. SVB Leerink lowered their price target on shares of Johnson & Johnson from $200.00 to $194.00 in a report on Wednesday, July 20th. 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. Finally, UBS Group lowered their target price on shares of Johnson & Johnson from $185.00 to $180.00 in a report on Thursday, July 21st. Four equities research 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $189.78.
Johnson & Johnson Stock Up 1.5 %
Johnson & Johnson (NYSE:JNJ – Get Rating) last issued its quarterly earnings results 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 net margin of 19.21% and a return on equity of 36.14%. The firm had revenue of $24.02 billion for the quarter, compared to analyst estimates of $23.85 billion. During the same quarter in the prior year, the firm earned $2.48 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities analysts expect that Johnson & Johnson will post 10.7 earnings per share for the current year.
Johnson & Johnson declared that its Board of Directors has initiated a share repurchase plan on Wednesday, September 14th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to repurchase up to 1.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Johnson & Johnson Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 23rd were given a $1.13 dividend. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $4.52 annualized dividend and a dividend yield of 2.70%. Johnson & Johnson’s dividend payout ratio is 65.79%.
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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