Greylin Investment Mangement Inc. cut its stake in Johnson & Johnson (NYSE:JNJ – Get Rating) by 2.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,198 shares of the company’s stock after selling 1,781 shares during the period. Johnson & Johnson makes up approximately 2.9% of Greylin Investment Mangement Inc.’s investment portfolio, making the stock its 9th biggest position. Greylin Investment Mangement Inc.’s holdings in Johnson & Johnson were worth $14,946,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Hilltop Holdings Inc. boosted its holdings in Johnson & Johnson by 4.2% during the fourth quarter. Hilltop Holdings Inc. now owns 30,677 shares of the company’s stock worth $5,248,000 after buying an additional 1,229 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Johnson & Johnson by 0.3% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 129,485 shares of the company’s stock worth $22,153,000 after buying an additional 350 shares in the last quarter. WestHill Financial Advisors Inc. boosted its holdings in Johnson & Johnson by 15.2% during the fourth quarter. WestHill Financial Advisors Inc. now owns 3,354 shares of the company’s stock worth $574,000 after buying an additional 442 shares in the last quarter. Hoey Investments Inc. boosted its holdings in Johnson & Johnson by 2.5% during the fourth quarter. Hoey Investments Inc. now owns 47,280 shares of the company’s stock worth $8,088,000 after buying an additional 1,144 shares in the last quarter. Finally, Glassman Wealth Services boosted its holdings in Johnson & Johnson by 0.7% during the fourth quarter. Glassman Wealth Services now owns 12,541 shares of the company’s stock worth $2,145,000 after buying an additional 92 shares in the last quarter. 68.59% of the stock is currently owned by institutional investors.
Johnson & Johnson Stock Down 0.8 %
JNJ stock opened at $166.28 on Tuesday. Johnson & Johnson has a 12-month low of $155.72 and a 12-month high of $186.69. The company has a quick ratio of 1.17, a current ratio of 1.42 and a debt-to-equity ratio of 0.37. The company has a market cap of $437.18 billion, a price-to-earnings ratio of 24.20, a PEG ratio of 2.99 and a beta of 0.61. The company has a 50 day moving average of $168.96 and a two-hundred day moving average of $174.33.
Johnson & Johnson announced that its board has initiated a stock repurchase plan on Wednesday, September 14th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to reacquire up to 1.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
Johnson & Johnson Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd were paid a $1.13 dividend. This represents a $4.52 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend was Monday, August 22nd. Johnson & Johnson’s payout ratio is presently 65.79%.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on JNJ shares. Daiwa Capital Markets started coverage on shares of Johnson & Johnson in a report on Wednesday, June 22nd. They set an “outperform” rating for the company. Morgan Stanley decreased their price objective on shares of 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. UBS Group decreased their price objective on shares of Johnson & Johnson from $185.00 to $180.00 in a research note on Thursday, July 21st. SVB Leerink decreased their price objective on shares of Johnson & Johnson from $200.00 to $194.00 in a research note on Wednesday, July 20th. Finally, Wells Fargo & Company raised their price objective on shares of Johnson & Johnson from $190.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 13th. Four 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 MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus target price of $189.78.
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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