Martin Capital Partners LLC Has $6.95 Million Holdings in Johnson & Johnson (NYSE:JNJ)

Martin Capital Partners LLC raised its position in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 2.4% in the second quarter, HoldingsChannel reports. The firm owned 39,133 shares of the company’s stock after buying an additional 915 shares during the quarter. Johnson & Johnson makes up 3.3% of Martin Capital Partners LLC’s investment portfolio, making the stock its 3rd largest position. Martin Capital Partners LLC’s holdings in Johnson & Johnson were worth $6,946,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Johnson & Johnson by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 238,141,110 shares of the company’s stock valued at $42,205,749,000 after acquiring an additional 3,358,478 shares during the period. BlackRock Inc. grew its stake in shares of Johnson & Johnson by 0.4% during the 1st quarter. BlackRock Inc. now owns 200,799,189 shares of the company’s stock valued at $35,587,638,000 after acquiring an additional 777,837 shares during the period. State Street Corp grew its stake in shares of Johnson & Johnson by 1.8% during the 4th quarter. State Street Corp now owns 144,677,639 shares of the company’s stock valued at $24,750,004,000 after acquiring an additional 2,492,359 shares during the period. Wellington Management Group LLP grew its stake in shares of Johnson & Johnson by 0.8% during the 1st quarter. Wellington Management Group LLP now owns 32,772,594 shares of the company’s stock valued at $5,808,286,000 after acquiring an additional 265,330 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Johnson & Johnson by 1.6% during the 1st quarter. Bank of New York Mellon Corp now owns 32,070,396 shares of the company’s stock valued at $5,683,837,000 after acquiring an additional 509,818 shares during the period. 68.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Daiwa Capital Markets assumed coverage on Johnson & Johnson in a research note on Wednesday, June 22nd. They set an “outperform” rating for the company. Wells Fargo & Company upped their price target on Johnson & Johnson from $190.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 13th. UBS Group dropped their price target on Johnson & Johnson from $185.00 to $180.00 in a research note on Thursday, July 21st. Morgan Stanley dropped their price target on Johnson & Johnson from $174.00 to $173.00 and set an “equal weight” rating for the company in a research note on Monday, September 12th. Finally, Citigroup decreased their price objective on Johnson & Johnson from $205.00 to $201.00 in a report on Wednesday, July 20th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus price target of $189.78.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $167.60 on Monday. The stock’s fifty day moving average is $168.96 and its 200 day moving average is $174.29. Johnson & Johnson has a fifty-two week low of $155.72 and a fifty-two week high of $186.69. The firm has a market capitalization of $440.65 billion, a PE ratio of 24.40, a PEG ratio of 2.99 and a beta of 0.61. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.17 and a current ratio of 1.42.

Johnson & Johnson (NYSE:JNJGet Rating) last released its quarterly earnings results on Tuesday, July 19th. The company reported $2.59 earnings per share for the quarter, beating 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 company 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 posted $2.48 EPS. Johnson & Johnson’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Johnson & Johnson will post 10.7 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

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

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

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.

Further Reading

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

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