Global Trust Asset Management LLC lifted its stake in Johnson & Johnson (NYSE:JNJ – Get Rating) by 9.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 9,256 shares of the company’s stock after acquiring an additional 798 shares during the quarter. Global Trust Asset Management LLC’s holdings in Johnson & Johnson were worth $1,643,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in JNJ. Norges Bank purchased a new stake in Johnson & Johnson during the 4th quarter worth approximately $4,172,929,000. BlackRock Inc. increased its stake in Johnson & Johnson by 2.6% during the 4th 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 during the period. GQG Partners LLC increased its stake in Johnson & Johnson by 1,109.4% during the 4th 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 during the period. Vanguard Group Inc. increased its stake in Johnson & Johnson by 1.4% during the 1st 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 during the period. Finally, State Street Corp increased its stake in Johnson & Johnson by 1.8% during the 4th 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 during the period. 68.59% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
JNJ has been the topic of several recent research reports. Citigroup cut their target price on shares of Johnson & Johnson from $205.00 to $201.00 in a research note on Wednesday, July 20th. UBS Group dropped their price objective on shares of Johnson & Johnson from $185.00 to $180.00 in a research report on Thursday, July 21st. Morgan Stanley dropped their price objective on shares of Johnson & Johnson from $174.00 to $173.00 and set an “equal weight” rating on the stock in a research report on Monday, September 12th. 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. Finally, Wells Fargo & Company increased their price objective on shares of Johnson & Johnson from $190.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, July 13th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $189.78.
Johnson & Johnson Trading Up 1.8 %
Johnson & Johnson (NYSE:JNJ – Get Rating) last posted its earnings results on Tuesday, July 19th. The company reported $2.59 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.02. The firm had revenue of $24.02 billion for the quarter, compared to the consensus estimate of $23.85 billion. Johnson & Johnson had a net margin of 19.21% and a return on equity of 36.14%. The company’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm posted $2.48 EPS. On average, sell-side analysts expect that Johnson & Johnson will post 10.7 earnings per share for the current fiscal year.
Johnson & Johnson Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd were paid a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date was Monday, August 22nd. Johnson & Johnson’s dividend payout ratio is currently 65.79%.
Johnson & Johnson announced that its Board of Directors has authorized a share buyback program on Wednesday, September 14th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to reacquire up to 1.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are 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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