Harrison & Co Wealth Management LLC boosted its position in Johnson & Johnson (NYSE:JNJ – Get Rating) by 1.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 5,625 shares of the company’s stock after buying an additional 95 shares during the period. Harrison & Co Wealth Management LLC’s holdings in Johnson & Johnson were worth $998,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the company. Carmel Capital Partners LLC increased its stake in Johnson & Johnson by 18.6% in the 2nd quarter. Carmel Capital Partners LLC now owns 1,595 shares of the company’s stock valued at $283,000 after purchasing an additional 250 shares in the last quarter. Aletheian Wealth Advisors LLC increased its stake in Johnson & Johnson by 23.5% in the 2nd quarter. Aletheian Wealth Advisors LLC now owns 1,562 shares of the company’s stock valued at $277,000 after purchasing an additional 297 shares in the last quarter. S.C. Financial Services Inc. increased its position in Johnson & Johnson by 1.3% during the second quarter. S.C. Financial Services Inc. now owns 10,652 shares of the company’s stock worth $1,891,000 after buying an additional 139 shares in the last quarter. Cim LLC increased its position in Johnson & Johnson by 9.9% during the second quarter. Cim LLC now owns 9,251 shares of the company’s stock worth $1,649,000 after buying an additional 833 shares in the last quarter. Finally, Brookstone Capital Management increased its position in Johnson & Johnson by 5.1% during the second quarter. Brookstone Capital Management now owns 59,913 shares of the company’s stock worth $10,681,000 after buying an additional 2,912 shares in the last quarter. 68.59% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the company. 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 report on Monday, September 12th. Daiwa Capital Markets assumed coverage on Johnson & Johnson in a research report on Wednesday, June 22nd. They set an “outperform” rating for the company. SVB Leerink dropped their price target on Johnson & Johnson from $200.00 to $194.00 in a research report on Wednesday, July 20th. Wells Fargo & Company raised their price target on Johnson & Johnson from $190.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 13th. Finally, UBS Group dropped their price target on Johnson & Johnson from $185.00 to $180.00 in a research report on Thursday, July 21st. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average target price 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, beating analysts’ consensus estimates of $2.57 by $0.02. Johnson & Johnson had a return on equity of 36.14% and a net margin of 19.21%. The firm had revenue of $24.02 billion for the quarter, compared to analysts’ expectations of $23.85 billion. During the same quarter last year, the firm earned $2.48 earnings per share. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities research analysts expect that Johnson & Johnson will post 10.7 EPS for the current year.
Johnson & Johnson declared that its Board of Directors has authorized a share buyback plan on Wednesday, September 14th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 1.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
Johnson & Johnson Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd were issued a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date was Monday, August 22nd. Johnson & Johnson’s payout ratio is currently 65.79%.
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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