AEGON ASSET MANAGEMENT UK Plc lifted its stake in Johnson & Johnson (NYSE:JNJ – Get Rating) by 5.6% during the second quarter, HoldingsChannel.com reports. The firm owned 113,223 shares of the company’s stock after purchasing an additional 5,999 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc’s holdings in Johnson & Johnson were worth $20,129,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Johnson & Johnson by 0.3% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 129,485 shares of the company’s stock worth $22,153,000 after acquiring an additional 350 shares during the last quarter. Fort Point Capital Partners LLC raised its stake in Johnson & Johnson by 16.1% during the 4th quarter. Fort Point Capital Partners LLC now owns 4,360 shares of the company’s stock valued at $746,000 after buying an additional 605 shares during the last quarter. Clearstead Advisors LLC raised its stake in Johnson & Johnson by 4.5% during the 4th quarter. Clearstead Advisors LLC now owns 65,601 shares of the company’s stock valued at $11,222,000 after buying an additional 2,807 shares during the last quarter. Quantitative Investment Management LLC purchased a new stake in Johnson & Johnson during the 4th quarter valued at $5,922,000. Finally, Mmbg Investment Advisors CO. purchased a new stake in Johnson & Johnson during the 4th quarter valued at $996,000. 68.59% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on JNJ shares. 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. Citigroup decreased their target price on shares of Johnson & Johnson from $205.00 to $201.00 in a research note on Wednesday, July 20th. SVB Leerink reduced their price objective on Johnson & Johnson from $200.00 to $194.00 in a research note on Wednesday, July 20th. UBS Group reduced their price objective on Johnson & Johnson from $185.00 to $180.00 in a research note on Thursday, July 21st. Finally, Morgan Stanley reduced their price objective on 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. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus target price of $189.78.
Johnson & Johnson Trading Down 1.0 %
Johnson & Johnson (NYSE:JNJ – Get Rating) last released its quarterly earnings data on Tuesday, July 19th. The company reported $2.59 EPS for the quarter, beating the consensus estimate of $2.57 by $0.02. Johnson & Johnson had a net margin of 19.21% and a return on equity of 36.14%. The business had revenue of $24.02 billion during the quarter, compared to the consensus estimate of $23.85 billion. During the same quarter in the prior year, the firm earned $2.48 EPS. The business’s revenue was up 3.0% on a year-over-year basis. On average, sell-side analysts anticipate that Johnson & Johnson will post 10.7 earnings per share for the current fiscal year.
Johnson & Johnson declared that its board has approved a stock repurchase plan on Wednesday, September 14th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 1.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.
Johnson & Johnson Announces Dividend
The business 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. This represents a $4.52 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend was Monday, August 22nd. Johnson & Johnson’s dividend payout ratio (DPR) is presently 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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