Carmel Capital Partners LLC raised its holdings in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 18.6% in the second quarter, HoldingsChannel.com reports. The firm owned 1,595 shares of the company’s stock after buying an additional 250 shares during the period. Carmel Capital Partners LLC’s holdings in Johnson & Johnson were worth $283,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Patron Partners LLC raised its holdings in Johnson & Johnson by 12.7% during the first quarter. Patron Partners LLC now owns 6,625 shares of the company’s stock worth $1,174,000 after buying an additional 747 shares during the last quarter. Palisade Capital Management LLC NJ raised its holdings in shares of Johnson & Johnson by 0.3% in the first quarter. Palisade Capital Management LLC NJ now owns 93,141 shares of the company’s stock valued at $16,507,000 after purchasing an additional 250 shares during the last quarter. Lmcg Investments LLC purchased a new stake in shares of Johnson & Johnson in the first quarter valued at about $12,462,000. Capital Wealth Planning LLC raised its holdings in shares of Johnson & Johnson by 14.0% in the first quarter. Capital Wealth Planning LLC now owns 916,575 shares of the company’s stock valued at $162,445,000 after purchasing an additional 112,890 shares during the last quarter. Finally, Tandem Investment Advisors Inc. raised its holdings in shares of Johnson & Johnson by 4.8% in the first quarter. Tandem Investment Advisors Inc. now owns 326,505 shares of the company’s stock valued at $57,867,000 after purchasing an additional 15,003 shares during the last quarter. Institutional investors and hedge funds own 68.59% of the company’s stock.
Analyst Upgrades and Downgrades
JNJ has been the subject of several analyst reports. SVB Leerink lowered their target price on shares of Johnson & Johnson from $200.00 to $194.00 in a report on Wednesday, July 20th. Daiwa Capital Markets initiated coverage on shares of Johnson & Johnson in a report on Wednesday, June 22nd. They issued an “outperform” rating for the company. Wells Fargo & Company increased their target price 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. Citigroup reduced their price target on shares of Johnson & Johnson from $205.00 to $201.00 in a research report on Wednesday, July 20th. Finally, UBS Group reduced their price target on shares of Johnson & Johnson from $185.00 to $180.00 in a research report on Thursday, July 21st. Four research 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $189.78.
Johnson & Johnson Price Performance
Johnson & Johnson (NYSE:JNJ – Get Rating) last issued its earnings results on Tuesday, July 19th. The company reported $2.59 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.02. The firm had revenue of $24.02 billion during the quarter, compared to analyst estimates of $23.85 billion. Johnson & Johnson had a net margin of 19.21% and a return on equity of 36.14%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business earned $2.48 earnings per share. Equities analysts forecast that Johnson & Johnson will post 10.7 EPS for the current year.
Johnson & Johnson announced that its Board of Directors has initiated a share repurchase program on Wednesday, September 14th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 1.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
Johnson & Johnson Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 23rd were given 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 yield of 2.74%. Johnson & Johnson’s dividend payout ratio is presently 65.79%.
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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