Objective Capital Management LLC grew its position in Johnson & Johnson (NYSE:JNJ – Get Rating) by 14.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,333 shares of the company’s stock after acquiring an additional 433 shares during the quarter. Objective Capital Management LLC’s holdings in Johnson & Johnson were worth $592,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Johnson & Johnson by 0.3% during the 4th 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 during the period. Mutual Advisors LLC lifted its position in shares of Johnson & Johnson by 2.9% during the 4th quarter. Mutual Advisors LLC now owns 47,197 shares of the company’s stock worth $8,074,000 after buying an additional 1,320 shares during the period. Trail Ridge Investment Advisors LLC bought a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $1,524,000. Nissay Asset Management Corp Japan ADV lifted its position in shares of Johnson & Johnson by 5.0% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 346,023 shares of the company’s stock worth $59,194,000 after buying an additional 16,587 shares during the period. Finally, Fort Point Capital Partners LLC lifted its position in shares of Johnson & Johnson by 16.1% during the 4th quarter. Fort Point Capital Partners LLC now owns 4,360 shares of the company’s stock worth $746,000 after buying an additional 605 shares during the period. Institutional investors own 68.59% of the company’s stock.
Johnson & Johnson Stock Down 0.8 %
NYSE JNJ opened at $164.97 on Wednesday. The stock has a fifty day moving average of $168.71 and a 200-day moving average of $174.30. The stock has a market capitalization of $433.74 billion, a P/E ratio of 24.01, a price-to-earnings-growth ratio of 2.97 and a beta of 0.61. Johnson & Johnson has a 52 week low of $155.72 and a 52 week high of $186.69. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.17 and a current ratio of 1.42.
Johnson & Johnson announced that its Board of Directors has approved a share repurchase program on Wednesday, September 14th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 1.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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 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 2.74%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 65.79%.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on the company. Wells Fargo & Company raised 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. UBS Group cut their price objective on Johnson & Johnson from $185.00 to $180.00 in a research report on Thursday, July 21st. SVB Leerink cut their price objective on Johnson & Johnson from $200.00 to $194.00 in a research report on Wednesday, July 20th. Daiwa Capital Markets initiated coverage on Johnson & Johnson in a research report on Wednesday, June 22nd. They issued an “outperform” rating for the company. Finally, Citigroup cut their price objective 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 issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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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