Flaharty Asset Management LLC boosted its stake in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 4.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,802 shares of the company’s stock after purchasing an additional 537 shares during the period. Johnson & Johnson comprises about 0.5% of Flaharty Asset Management LLC’s investment portfolio, making the stock its 29th biggest position. Flaharty Asset Management LLC’s holdings in Johnson & Johnson were worth $2,272,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Johnson & Johnson by 1.4% in the first 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 in the last quarter. BlackRock Inc. lifted its position in shares of Johnson & Johnson by 0.4% in the first 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 in the last quarter. State Street Corp lifted its position in shares of Johnson & Johnson by 1.8% in the fourth 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 in the last quarter. Wellington Management Group LLP lifted its position in shares of Johnson & Johnson by 0.8% in the first 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 in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Johnson & Johnson by 1.6% in the first 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 in the last quarter. 68.59% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on the company. UBS Group lowered their price objective on Johnson & Johnson from $185.00 to $180.00 in a research report on Thursday, July 21st. Wells Fargo & Company boosted their target price on Johnson & Johnson from $190.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 13th. SVB Leerink decreased their target price on Johnson & Johnson from $200.00 to $194.00 in a research report on Wednesday, July 20th. Daiwa Capital Markets assumed coverage on Johnson & Johnson in a research report on Wednesday, June 22nd. They issued an “outperform” rating on the stock. Finally, Citigroup decreased their target price on Johnson & Johnson from $205.00 to $201.00 in a research report on Wednesday, July 20th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $189.78.
Johnson & Johnson Trading Down 0.8 %
Johnson & Johnson (NYSE:JNJ – Get Rating) last issued 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. The company had revenue of $24.02 billion for the quarter, compared to analysts’ expectations of $23.85 billion. Johnson & Johnson had a return on equity of 36.14% and a net margin of 19.21%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.48 earnings per share. As a group, research analysts expect that Johnson & Johnson will post 10.7 EPS for the current year.
Johnson & Johnson Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 23rd were paid a dividend of $1.13 per share. The ex-dividend date was Monday, August 22nd. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.72%. Johnson & Johnson’s dividend payout ratio is 65.79%.
Johnson & Johnson declared that its board 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 reacquire up to 1.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
About Johnson & Johnson
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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