Grassi Investment Management Sells 516 Shares of Johnson & Johnson (NYSE:JNJ)

Grassi Investment Management decreased its holdings in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 0.7% in the second quarter, HoldingsChannel reports. The fund owned 70,629 shares of the company’s stock after selling 516 shares during the quarter. Johnson & Johnson makes up about 1.7% of Grassi Investment Management’s portfolio, making the stock its 14th largest holding. Grassi Investment Management’s holdings in Johnson & Johnson were worth $12,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Family CFO Inc purchased a new stake in shares of Johnson & Johnson during the 4th quarter valued at about $26,000. RE Dickinson Investment Advisors LLC grew its stake in Johnson & Johnson by 163.3% in the 1st quarter. RE Dickinson Investment Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after acquiring an additional 98 shares in the last quarter. Advanced Research Investment Solutions LLC boosted its stake in shares of Johnson & Johnson by 200.0% during the first quarter. Advanced Research Investment Solutions LLC now owns 180 shares of the company’s stock valued at $32,000 after purchasing an additional 120 shares in the last quarter. Professional Financial Advisors LLC boosted its stake in Johnson & Johnson by 47.9% in the first quarter. Professional Financial Advisors LLC now owns 210 shares of the company’s stock valued at $37,000 after acquiring an additional 68 shares in the last quarter. Finally, Joseph P. Lucia & Associates LLC acquired a new stake in Johnson & Johnson in the first quarter valued at approximately $38,000. Institutional investors own 68.59% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on JNJ shares. Wells Fargo & Company raised 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 reduced their target price on shares of Johnson & Johnson from $205.00 to $201.00 in a report on Wednesday, July 20th. UBS Group dropped their price target on shares of Johnson & Johnson from $185.00 to $180.00 in a research report on Thursday, July 21st. SVB Leerink dropped their price target on shares of Johnson & Johnson from $200.00 to $194.00 in a research report on Wednesday, July 20th. Finally, Daiwa Capital Markets started coverage on shares of Johnson & Johnson in a research report on Wednesday, June 22nd. They issued an “outperform” rating on the stock. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $189.78.

Johnson & Johnson Price Performance

Shares of JNJ opened at $166.18 on Friday. 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 moving average price is $168.06 and its 200 day moving average price is $174.12. The company has a market cap of $436.92 billion, a P/E ratio of 24.19, a PEG ratio of 2.95 and a beta of 0.61. 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 (NYSE:JNJGet Rating) last posted its quarterly earnings results on Tuesday, July 19th. The company reported $2.59 EPS for the quarter, topping 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 company had revenue of $24.02 billion during the quarter, compared to analysts’ expectations of $23.85 billion. During the same quarter in the previous year, the business posted $2.48 EPS. The firm’s revenue was up 3.0% on a year-over-year basis. On average, research analysts forecast that Johnson & Johnson will post 10.7 earnings per share for the current fiscal year.

Johnson & Johnson announced that its board has approved a stock repurchase plan on Wednesday, September 14th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to reacquire up to 1.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 23rd were issued a $1.13 dividend. This represents a $4.52 annualized dividend and a dividend yield of 2.72%. The ex-dividend date was Monday, August 22nd. Johnson & Johnson’s payout ratio is 65.79%.

Johnson & Johnson Company Profile

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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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