Sky Investment Group LLC Has $12.93 Million Position in Johnson & Johnson (NYSE:JNJ)

Sky Investment Group LLC trimmed its holdings in Johnson & Johnson (NYSE:JNJGet Rating) by 0.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,858 shares of the company’s stock after selling 377 shares during the quarter. Johnson & Johnson accounts for 3.1% of Sky Investment Group LLC’s portfolio, making the stock its 2nd largest holding. Sky Investment Group LLC’s holdings in Johnson & Johnson were worth $12,933,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Magnolia Capital Management Ltd. raised its stake in shares of Johnson & Johnson by 0.5% in the first quarter. Magnolia Capital Management Ltd. now owns 11,162 shares of the company’s stock valued at $1,978,000 after purchasing an additional 55 shares in the last quarter. Howard Financial Services LTD. raised its stake in shares of Johnson & Johnson by 2.1% in the first quarter. Howard Financial Services LTD. now owns 2,757 shares of the company’s stock valued at $489,000 after purchasing an additional 57 shares in the last quarter. American Financial Advisors LLC raised its stake in shares of Johnson & Johnson by 2.1% in the first quarter. American Financial Advisors LLC now owns 2,715 shares of the company’s stock valued at $481,000 after purchasing an additional 57 shares in the last quarter. Taylor & Morgan Wealth Management LLC raised its stake in shares of Johnson & Johnson by 1.6% in the second quarter. Taylor & Morgan Wealth Management LLC now owns 3,580 shares of the company’s stock valued at $635,000 after purchasing an additional 57 shares in the last quarter. Finally, Kwmg LLC raised its stake in shares of Johnson & Johnson by 2.6% in the first quarter. Kwmg LLC now owns 2,354 shares of the company’s stock valued at $417,000 after purchasing an additional 59 shares in the last quarter. 68.59% of the stock is owned by institutional investors.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $166.18 on Friday. The business’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 price-to-earnings ratio of 24.19, a P/E/G ratio of 2.95 and a beta of 0.61. Johnson & Johnson has a 12-month low of $155.72 and a 12-month high of $186.69. 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.02. The business had revenue of $24.02 billion for the quarter, compared to analysts’ expectations of $23.85 billion. Johnson & Johnson had a return on equity of 36.14% and a net margin of 19.21%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.48 earnings per share. As a group, research analysts anticipate that Johnson & Johnson will post 10.7 earnings per share for the current year.

Johnson & Johnson declared that its Board of Directors has initiated a share buyback program on Wednesday, September 14th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 1.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Johnson & Johnson Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have issued reports on JNJ. Citigroup dropped their price objective on Johnson & Johnson from $205.00 to $201.00 in a research note on Wednesday, July 20th. SVB Leerink dropped their price objective on Johnson & Johnson from $200.00 to $194.00 in a research note on Wednesday, July 20th. Wells Fargo & Company increased their price objective on Johnson & Johnson from $190.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 13th. Morgan Stanley dropped their price objective on 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. Finally, UBS Group dropped their price objective on Johnson & Johnson from $185.00 to $180.00 in a research note on Thursday, July 21st. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average price target of $189.78.

Johnson & Johnson 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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