Johnson & Johnson (NYSE:JNJ) is DnB Asset Management AS’s 7th Largest Position

DnB Asset Management AS decreased its position in Johnson & Johnson (NYSE:JNJGet Rating) by 0.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,565,224 shares of the company’s stock after selling 4,495 shares during the quarter. Johnson & Johnson comprises 2.0% of DnB Asset Management AS’s holdings, making the stock its 7th largest position. DnB Asset Management AS’s holdings in Johnson & Johnson were worth $277,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Magnolia Capital Management Ltd. grew its stake in shares of Johnson & Johnson by 0.5% in the first quarter. Magnolia Capital Management Ltd. now owns 11,162 shares of the company’s stock worth $1,978,000 after acquiring an additional 55 shares during the last quarter. Howard Financial Services LTD. grew its stake in shares of Johnson & Johnson by 2.1% in the first quarter. Howard Financial Services LTD. now owns 2,757 shares of the company’s stock worth $489,000 after acquiring an additional 57 shares during the last quarter. American Financial Advisors LLC grew its stake in shares of Johnson & Johnson by 2.1% in the first quarter. American Financial Advisors LLC now owns 2,715 shares of the company’s stock worth $481,000 after acquiring an additional 57 shares during the last quarter. Kwmg LLC grew its stake in shares of Johnson & Johnson by 2.6% in the first quarter. Kwmg LLC now owns 2,354 shares of the company’s stock worth $417,000 after acquiring an additional 59 shares during the last quarter. Finally, Circle Wealth Management LLC grew its stake in shares of Johnson & Johnson by 0.5% in the first quarter. Circle Wealth Management LLC now owns 11,326 shares of the company’s stock worth $2,007,000 after acquiring an additional 59 shares during the last quarter. Institutional investors own 68.59% of the company’s stock.

Johnson & Johnson Stock Up 1.5 %

JNJ stock opened at $167.60 on Monday. Johnson & Johnson has a fifty-two week low of $155.72 and a fifty-two week high of $186.69. The business’s 50-day moving average is $168.96 and its two-hundred day moving average is $174.29. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.17 and a current ratio of 1.42. The company has a market cap of $440.65 billion, a price-to-earnings ratio of 24.40, a P/E/G ratio of 2.99 and a beta of 0.61.

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

Johnson & Johnson announced that its board has initiated a stock repurchase program on Wednesday, September 14th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to reacquire up to 1.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Johnson & Johnson Announces Dividend

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

Analyst Ratings Changes

A number of research firms have recently commented on JNJ. SVB Leerink cut their target price on Johnson & Johnson from $200.00 to $194.00 in a research note 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 report on Wednesday, July 13th. Daiwa Capital Markets assumed coverage on Johnson & Johnson in a report on Wednesday, June 22nd. They set an “outperform” rating on the stock. UBS Group lowered their price target on Johnson & Johnson from $185.00 to $180.00 in a report on Thursday, July 21st. Finally, Morgan Stanley lowered their price target on 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 equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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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