Johnson & Johnson (NYSE:JNJ) Shares Sold by Carlton Hofferkamp & Jenks Wealth Management LLC

Carlton Hofferkamp & Jenks Wealth Management LLC reduced its stake in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 2.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 17,038 shares of the company’s stock after selling 371 shares during the quarter. Johnson & Johnson accounts for approximately 1.4% of Carlton Hofferkamp & Jenks Wealth Management LLC’s investment portfolio, making the stock its 16th biggest holding. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Johnson & Johnson were worth $3,038,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank purchased a new position in shares of Johnson & Johnson during the fourth quarter worth $4,172,929,000. BlackRock Inc. raised its holdings in shares of 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 purchasing an additional 4,982,885 shares during the last quarter. GQG Partners LLC raised its holdings in shares of 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 purchasing an additional 3,627,424 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of 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 purchasing an additional 3,358,478 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of 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 purchasing an additional 2,492,359 shares during the last quarter. 68.59% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Stock Performance

JNJ opened at $163.28 on Thursday. The firm has a market capitalization of $429.29 billion, a PE ratio of 23.77, a PEG ratio of 2.97 and a beta of 0.61. Johnson & Johnson has a twelve month low of $155.72 and a twelve month high of $186.69. The firm’s 50-day moving average price is $168.25 and its 200 day moving average price is $174.16. The company has a current ratio of 1.42, a quick ratio of 1.17 and a debt-to-equity ratio of 0.37.

Johnson & Johnson (NYSE:JNJGet Rating) last posted its quarterly 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 for 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%. Johnson & Johnson’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.48 earnings per share. As a group, sell-side analysts expect that Johnson & Johnson will post 10.7 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 23rd were issued a $1.13 dividend. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $4.52 annualized dividend and a yield of 2.77%. Johnson & Johnson’s payout ratio is 65.79%.

Johnson & Johnson declared that its board has authorized a stock repurchase plan 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 stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Citigroup cut their price objective on shares of Johnson & Johnson from $205.00 to $201.00 in a report on Wednesday, July 20th. SVB Leerink cut their price objective on shares of Johnson & Johnson from $200.00 to $194.00 in a report on Wednesday, July 20th. Wells Fargo & Company lifted their price objective 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. UBS Group cut their target price on shares of Johnson & Johnson from $185.00 to $180.00 in a research note on Thursday, July 21st. Finally, Morgan Stanley cut their target price on shares of 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 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $189.78.

About Johnson & Johnson

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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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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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