Gradient Investments LLC lowered its stake in Johnson & Johnson (NYSE:JNJ – Get Rating) by 8.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 131,028 shares of the company’s stock after selling 12,874 shares during the quarter. Johnson & Johnson accounts for approximately 0.7% of Gradient Investments LLC’s portfolio, making the stock its 26th largest position. Gradient Investments LLC’s holdings in Johnson & Johnson were worth $23,259,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the stock. Magnolia Capital Management Ltd. boosted its holdings in shares of Johnson & Johnson by 0.5% in the 1st quarter. Magnolia Capital Management Ltd. now owns 11,162 shares of the company’s stock worth $1,978,000 after buying an additional 55 shares during the last quarter. Howard Financial Services LTD. boosted its holdings in shares of Johnson & Johnson by 2.1% in the 1st quarter. Howard Financial Services LTD. now owns 2,757 shares of the company’s stock worth $489,000 after buying an additional 57 shares during the last quarter. American Financial Advisors LLC boosted its holdings in shares of Johnson & Johnson by 2.1% in the 1st quarter. American Financial Advisors LLC now owns 2,715 shares of the company’s stock worth $481,000 after buying an additional 57 shares during the last quarter. Taylor & Morgan Wealth Management LLC lifted its holdings in Johnson & Johnson by 1.6% during the second quarter. Taylor & Morgan Wealth Management LLC now owns 3,580 shares of the company’s stock valued at $635,000 after purchasing an additional 57 shares during the last quarter. Finally, Kwmg LLC lifted its holdings in Johnson & Johnson by 2.6% during the first quarter. Kwmg LLC now owns 2,354 shares of the company’s stock valued at $417,000 after purchasing an additional 59 shares during the last quarter. Institutional investors own 68.59% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have commented on JNJ shares. UBS Group dropped their price objective on shares of Johnson & Johnson from $185.00 to $180.00 in a report on Thursday, July 21st. Wells Fargo & Company upped their price objective on shares of Johnson & Johnson from $190.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, July 13th. SVB Leerink decreased their price target on Johnson & Johnson from $200.00 to $194.00 in a research report on Wednesday, July 20th. Daiwa Capital Markets started coverage on Johnson & Johnson in a research report on Wednesday, June 22nd. They set an “outperform” rating on the stock. Finally, Citigroup decreased their price target on Johnson & Johnson from $205.00 to $201.00 in a research report on Wednesday, July 20th. 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’s stock. According to MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus price target of $189.78.
Johnson & Johnson Stock Down 0.8 %
Johnson & Johnson (NYSE:JNJ – Get Rating) last posted 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 net margin of 19.21% and a return on equity of 36.14%. Johnson & Johnson’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.48 earnings per share. Sell-side analysts predict that Johnson & Johnson will post 10.7 EPS for the current fiscal year.
Johnson & Johnson Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd were given a $1.13 dividend. This represents a $4.52 annualized dividend and a dividend yield of 2.72%. The ex-dividend date was Monday, August 22nd. Johnson & Johnson’s dividend payout ratio (DPR) is 65.79%.
Johnson & Johnson declared that its board has authorized a stock buyback program on Wednesday, September 14th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 1.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
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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