Johnson & Johnson (NYSE:JNJ) is RBO & Co. LLC’s Largest Position

RBO & Co. LLC grew its holdings in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 0.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 227,967 shares of the company’s stock after purchasing an additional 184 shares during the period. Johnson & Johnson makes up about 7.4% of RBO & Co. LLC’s holdings, making the stock its biggest position. RBO & Co. LLC’s holdings in Johnson & Johnson were worth $40,466,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of JNJ. RE Dickinson Investment Advisors LLC lifted 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 valued at $28,000 after buying an additional 98 shares in the last quarter. Morton Brown Family Wealth LLC lifted its stake in shares of Johnson & Johnson by 78.0% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 178 shares of the company’s stock worth $32,000 after purchasing an additional 78 shares during the period. Advanced Research Investment Solutions LLC lifted its stake in shares of Johnson & Johnson by 200.0% during the 1st quarter. Advanced Research Investment Solutions LLC now owns 180 shares of the company’s stock worth $32,000 after purchasing an additional 120 shares during the period. Professional Financial Advisors LLC lifted its stake in shares of Johnson & Johnson by 47.9% during the 1st quarter. Professional Financial Advisors LLC now owns 210 shares of the company’s stock worth $37,000 after purchasing an additional 68 shares during the period. Finally, Goodman Advisory Group LLC purchased a new position in shares of Johnson & Johnson during the 2nd quarter worth $39,000. Institutional investors and hedge funds own 68.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Bank of America cut their target price on Johnson & Johnson from $185.00 to $178.00 and set a “neutral” rating on the stock in a research report on Friday, October 14th. Atlantic Securities decreased their price target on Johnson & Johnson from $165.00 to $160.00 and set a “neutral” rating for the company in a research note on Wednesday, October 19th. Citigroup cut their target price on shares of Johnson & Johnson from $201.00 to $198.00 in a report on Wednesday, October 5th. Credit Suisse Group began coverage on Johnson & Johnson in a report on Thursday. They set a “neutral” rating and a $170.00 price target on the stock. Finally, Morgan Stanley cut their price target on Johnson & Johnson from $174.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 19th. Seven research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $181.33.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $176.20 on Monday. The firm’s 50-day moving average is $167.84 and its 200-day moving average is $171.29. Johnson & Johnson has a 52-week low of $155.72 and a 52-week high of $186.69. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.18 and a current ratio of 1.43. The company has a market cap of $460.67 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 3.49 and a beta of 0.57.

Johnson & Johnson (NYSE:JNJGet Rating) last posted its quarterly earnings data on Tuesday, October 18th. The company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.06. Johnson & Johnson had a net margin of 19.95% and a return on equity of 35.37%. The company had revenue of $23.79 billion for the quarter, compared to the consensus estimate of $23.44 billion. During the same quarter in the previous year, the firm posted $2.60 EPS. The business’s revenue was up 1.9% compared to the same quarter last year. Equities research analysts anticipate that Johnson & Johnson will post 10.04 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Tuesday, November 22nd will be given a $1.13 dividend. The ex-dividend date of this dividend is Monday, November 21st. This represents a $4.52 dividend on an annualized basis and a yield of 2.57%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 62.95%.

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

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson news, VP Peter Fasolo sold 22,864 shares of the company’s stock in a transaction that occurred on Wednesday, October 19th. The shares were sold at an average price of $164.50, for a total value of $3,761,128.00. Following the completion of the sale, the vice president now owns 114,676 shares of the company’s stock, valued at $18,864,202. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Johnson & Johnson news, insider William Hait sold 15,000 shares of the stock in a transaction on Monday, October 24th. The shares were sold at an average price of $171.55, for a total value of $2,573,250.00. Following the completion of the sale, the insider now owns 80,236 shares in the company, valued at $13,764,485.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Peter Fasolo sold 22,864 shares of the stock in a transaction on Wednesday, October 19th. The shares were sold at an average price of $164.50, for a total transaction of $3,761,128.00. Following the completion of the sale, the vice president now owns 114,676 shares of the company’s stock, valued at approximately $18,864,202. The disclosure for this sale can be found here. Over the last three months, insiders have sold 118,795 shares of company stock worth $20,230,174. Corporate insiders own 0.35% of the company’s stock.

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.

Further Reading

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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