Baldrige Asset Management LLC Decreases Stock Position in Johnson & Johnson (NYSE:JNJ)

Baldrige Asset Management LLC cut its position in Johnson & Johnson (NYSE:JNJGet Rating) by 3.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,191 shares of the company’s stock after selling 67 shares during the quarter. Baldrige Asset Management LLC’s holdings in Johnson & Johnson were worth $389,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. Koshinski Asset Management Inc. boosted its stake in Johnson & Johnson by 22.9% during the 2nd quarter. Koshinski Asset Management Inc. now owns 55,664 shares of the company’s stock valued at $9,881,000 after acquiring an additional 10,357 shares during the last quarter. Insight Folios Inc boosted its stake in Johnson & Johnson by 6.3% during the 2nd quarter. Insight Folios Inc now owns 35,566 shares of the company’s stock valued at $6,313,000 after acquiring an additional 2,122 shares during the last quarter. Hixon Zuercher LLC boosted its stake in Johnson & Johnson by 1.0% during the 2nd quarter. Hixon Zuercher LLC now owns 34,275 shares of the company’s stock valued at $6,084,000 after acquiring an additional 339 shares during the last quarter. Everhart Financial Group Inc. boosted its stake in Johnson & Johnson by 16.7% during the 2nd quarter. Everhart Financial Group Inc. now owns 8,521 shares of the company’s stock valued at $1,512,000 after acquiring an additional 1,222 shares during the last quarter. Finally, Lake Street Financial LLC boosted its stake in Johnson & Johnson by 1.7% during the 2nd quarter. Lake Street Financial LLC now owns 34,977 shares of the company’s stock valued at $6,209,000 after acquiring an additional 596 shares during the last quarter. 68.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on JNJ shares. SVB Leerink reduced their price objective on shares of Johnson & Johnson from $200.00 to $194.00 in a research note on Wednesday, July 20th. UBS Group reduced their price target on shares of Johnson & Johnson from $185.00 to $180.00 in a research report on Thursday, July 21st. Citigroup reduced their price target on shares of Johnson & Johnson from $205.00 to $201.00 in a research report on Wednesday, July 20th. Wells Fargo & Company raised their price target on shares of Johnson & Johnson from $190.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 13th. Finally, Daiwa Capital Markets assumed coverage on shares of Johnson & Johnson in a research report on Wednesday, June 22nd. They issued an “outperform” rating on the stock. Four 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $189.78.

Johnson & Johnson Stock Up 1.8 %

JNJ stock opened at $166.18 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.42 and a debt-to-equity ratio of 0.37. Johnson & Johnson has a fifty-two week low of $155.72 and a fifty-two week high of $186.69. The firm’s 50-day simple moving average is $168.06 and its 200 day simple moving average is $174.12. The stock has a market cap of $436.92 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 2.95 and a beta of 0.61.

Johnson & Johnson (NYSE:JNJGet Rating) last released its quarterly earnings data 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. 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 for the quarter, compared to analysts’ expectations of $23.85 billion. During the same quarter last year, the company earned $2.48 EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, sell-side analysts predict that Johnson & Johnson will post 10.7 EPS for the current year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders 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 annualized dividend and a yield of 2.72%. Johnson & Johnson’s payout ratio is 65.79%.

Johnson & Johnson declared that its board has approved a stock buyback plan on Wednesday, September 14th that authorizes the company to buyback $5.00 billion in outstanding 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 an indication that the company’s management believes its shares are undervalued.

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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