My Legacy Advisors LLC cut its stake in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 4.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,501 shares of the company’s stock after selling 157 shares during the period. My Legacy Advisors LLC’s holdings in Johnson & Johnson were worth $624,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Mmbg Investment Advisors CO. purchased a new stake in shares of Johnson & Johnson in the 4th quarter worth $996,000. Unigestion Holding SA boosted its holdings in shares of Johnson & Johnson by 7.5% during the 4th quarter. Unigestion Holding SA now owns 253,012 shares of the company’s stock valued at $43,273,000 after purchasing an additional 17,653 shares during the last quarter. Jag Capital Management LLC boosted its holdings in shares of Johnson & Johnson by 1.4% during the 4th quarter. Jag Capital Management LLC now owns 4,515 shares of the company’s stock valued at $772,000 after purchasing an additional 61 shares during the last quarter. IHT Wealth Management LLC boosted its holdings in shares of Johnson & Johnson by 2.9% during the 4th quarter. IHT Wealth Management LLC now owns 20,744 shares of the company’s stock valued at $3,549,000 after purchasing an additional 587 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in shares of Johnson & Johnson by 3.9% during the 4th quarter. LPL Financial LLC now owns 2,091,108 shares of the company’s stock valued at $357,726,000 after purchasing an additional 78,540 shares during the last quarter. 68.59% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
JNJ has been the subject of a number of analyst reports. UBS Group lowered their price target on shares of Johnson & Johnson from $185.00 to $180.00 in a report on Thursday, July 21st. Citigroup lowered their price target on shares of Johnson & Johnson from $205.00 to $201.00 in a report on Wednesday, July 20th. SVB Leerink lowered their price target on shares of Johnson & Johnson from $200.00 to $194.00 in a report on Wednesday, July 20th. Morgan Stanley lowered their price target on shares of Johnson & Johnson from $174.00 to $173.00 and set an “equal weight” rating for the company in a report on Monday, September 12th. 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 equities research 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 company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $189.78.
Johnson & Johnson Stock Performance
Johnson & Johnson (NYSE:JNJ – Get Rating) last issued its quarterly earnings data on Tuesday, July 19th. The company reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.02. The company 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 revenue was up 3.0% compared to the same quarter last year. During the same period last year, the company posted $2.48 earnings per share. On average, sell-side analysts anticipate 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 paid 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 2.72%. Johnson & Johnson’s dividend payout ratio (DPR) is 65.79%.
Johnson & Johnson announced that its Board of Directors has authorized a stock buyback plan on Wednesday, September 14th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to repurchase up to 1.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
Johnson & Johnson 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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