S.C. Financial Services Inc. lifted its stake in Johnson & Johnson (NYSE:JNJ – Get Rating) by 1.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,652 shares of the company’s stock after acquiring an additional 139 shares during the period. Johnson & Johnson makes up 2.9% of S.C. Financial Services Inc.’s portfolio, making the stock its 6th largest holding. S.C. Financial Services Inc.’s holdings in Johnson & Johnson were worth $1,891,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new stake in Johnson & Johnson during the fourth quarter worth $4,172,929,000. BlackRock Inc. boosted its stake in Johnson & Johnson by 2.6% during the fourth quarter. BlackRock Inc. now owns 200,021,352 shares of the company’s stock worth $34,217,654,000 after buying an additional 4,982,885 shares in the last quarter. GQG Partners LLC boosted its stake in Johnson & Johnson by 1,109.4% during the fourth quarter. GQG Partners LLC now owns 3,954,383 shares of the company’s stock worth $676,375,000 after buying an additional 3,627,424 shares in the last quarter. Vanguard Group Inc. boosted its stake in Johnson & Johnson by 1.4% during the first quarter. Vanguard Group Inc. now owns 238,141,110 shares of the company’s stock worth $42,205,749,000 after buying an additional 3,358,478 shares in the last quarter. Finally, State Street Corp boosted its stake in Johnson & Johnson by 1.8% during the fourth quarter. State Street Corp now owns 144,677,639 shares of the company’s stock worth $24,750,004,000 after buying an additional 2,492,359 shares in the last quarter. Institutional investors and hedge funds own 68.59% of the company’s stock.
Analysts Set New Price Targets
JNJ has been the topic of a number of recent research reports. Morgan Stanley decreased their price target on shares of Johnson & Johnson from $174.00 to $173.00 and set an “equal weight” rating on the stock in a research note on Monday, September 12th. SVB Leerink reduced their target price on shares of Johnson & Johnson from $200.00 to $194.00 in a research note on Wednesday, July 20th. UBS Group reduced their target price on shares of Johnson & Johnson from $185.00 to $180.00 in a research note on Thursday, July 21st. Wells Fargo & Company boosted their target price on shares of Johnson & Johnson from $190.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, July 13th. Finally, Citigroup reduced their target price on shares of Johnson & Johnson from $205.00 to $201.00 in a research note on Wednesday, July 20th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus target price of $189.78.
Johnson & Johnson Stock Performance
Johnson & Johnson (NYSE:JNJ – Get Rating) last released its quarterly earnings results on Tuesday, July 19th. The company reported $2.59 earnings per share (EPS) 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 business had revenue of $24.02 billion during the quarter, compared to analysts’ expectations of $23.85 billion. During the same period in the previous year, the business posted $2.48 earnings per share. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, research analysts anticipate that Johnson & Johnson will post 10.7 earnings per share for the current fiscal year.
Johnson & Johnson Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 23rd were issued a dividend of $1.13 per share. The ex-dividend date was Monday, August 22nd. This represents a $4.52 annualized dividend and a yield of 2.74%. Johnson & Johnson’s dividend payout ratio is currently 65.79%.
Johnson & Johnson announced that its Board of Directors has authorized a stock buyback program on Wednesday, September 14th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to repurchase up to 1.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is 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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