Johnson & Johnson (NYSE:JNJ) Stock Position Cut by Ayrshire Capital Management LLC

Ayrshire Capital Management LLC lessened its stake in Johnson & Johnson (NYSE:JNJGet Rating) by 3.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 33,740 shares of the company’s stock after selling 1,065 shares during the quarter. Johnson & Johnson accounts for 4.2% of Ayrshire Capital Management LLC’s investment portfolio, making the stock its 4th biggest holding. Ayrshire Capital Management LLC’s holdings in Johnson & Johnson were worth $5,989,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in JNJ. Vanguard Group Inc. grew its stake in shares of Johnson & Johnson by 1.4% during the first quarter. Vanguard Group Inc. now owns 238,141,110 shares of the company’s stock worth $42,205,749,000 after acquiring an additional 3,358,478 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Johnson & Johnson by 0.4% during the first quarter. BlackRock Inc. now owns 200,799,189 shares of the company’s stock worth $35,587,638,000 after purchasing an additional 777,837 shares during the period. State Street Corp lifted its holdings in shares of Johnson & Johnson by 1.8% during the fourth quarter. State Street Corp now owns 144,677,639 shares of the company’s stock worth $24,750,004,000 after purchasing an additional 2,492,359 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Johnson & Johnson by 0.8% during the first quarter. Wellington Management Group LLP now owns 32,772,594 shares of the company’s stock worth $5,808,286,000 after purchasing an additional 265,330 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Johnson & Johnson by 1.6% during the first quarter. Bank of New York Mellon Corp now owns 32,070,396 shares of the company’s stock worth $5,683,837,000 after purchasing an additional 509,818 shares during the period. Hedge funds and other institutional investors own 68.59% of the company’s stock.

Johnson & Johnson Trading Up 1.5 %

Shares of JNJ stock opened at $167.60 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.42 and a quick ratio of 1.17. The company has a market cap of $440.65 billion, a price-to-earnings ratio of 24.40, a PEG ratio of 2.99 and a beta of 0.61. The stock has a 50 day simple moving average of $168.96 and a 200-day simple moving average of $174.29. Johnson & Johnson has a 1-year low of $155.72 and a 1-year high of $186.69.

Johnson & Johnson (NYSE:JNJGet Rating) last announced its earnings results 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. The business had revenue of $24.02 billion during the quarter, compared to the consensus estimate of $23.85 billion. Johnson & Johnson had a return on equity of 36.14% and a net margin of 19.21%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.48 EPS. On average, equities research analysts expect that Johnson & Johnson will post 10.7 EPS for the current fiscal year.

Johnson & Johnson announced that its Board of Directors has approved a stock buyback program on Wednesday, September 14th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to purchase up to 1.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Johnson & Johnson Dividend Announcement

The company also recently declared 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 was Monday, August 22nd. Johnson & Johnson’s payout ratio is 65.79%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on JNJ. SVB Leerink decreased their target price on Johnson & Johnson from $200.00 to $194.00 in a report on Wednesday, July 20th. Citigroup decreased their target price on Johnson & Johnson from $205.00 to $201.00 in a report on Wednesday, July 20th. Wells Fargo & Company lifted 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. UBS Group decreased their price target on Johnson & Johnson from $185.00 to $180.00 in a report on Thursday, July 21st. Finally, Daiwa Capital Markets initiated coverage on Johnson & Johnson in a report on Wednesday, June 22nd. They issued an “outperform” rating for the company. Four 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’s stock. Based on data from MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average target price of $189.78.

Johnson & Johnson 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.

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

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