Renaissance Investment Group LLC trimmed its position in Johnson & Johnson (NYSE:JNJ – Free Report) by 2.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 8,888 shares of the company’s stock after selling 200 shares during the period. Renaissance Investment Group LLC’s holdings in Johnson & Johnson were worth $1,471,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. DORCHESTER WEALTH MANAGEMENT Co raised its stake in shares of Johnson & Johnson by 8.6% during the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 67,618 shares of the company’s stock worth $14,975,000 after purchasing an additional 5,327 shares during the period. Cantor Fitzgerald Investment Advisor L.P increased its holdings in Johnson & Johnson by 88.9% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 175,194 shares of the company’s stock worth $31,049,000 after buying an additional 82,429 shares during the last quarter. AMI Investment Management Inc. raised its position in Johnson & Johnson by 8.8% in the first quarter. AMI Investment Management Inc. now owns 18,305 shares of the company’s stock worth $3,244,000 after acquiring an additional 1,475 shares during the period. Equitable Holdings Inc. boosted its stake in Johnson & Johnson by 4.9% in the first quarter. Equitable Holdings Inc. now owns 45,673 shares of the company’s stock valued at $8,095,000 after acquiring an additional 2,119 shares during the last quarter. Finally, USS Investment Management Ltd grew its position in shares of Johnson & Johnson by 2.4% during the 1st quarter. USS Investment Management Ltd now owns 860,371 shares of the company’s stock valued at $152,488,000 after acquiring an additional 20,528 shares during the period. Hedge funds and other institutional investors own 68.40% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on JNJ shares. Stifel Nicolaus upped their price objective on Johnson & Johnson from $165.00 to $175.00 in a research note on Friday, July 21st. HSBC initiated coverage on Johnson & Johnson in a research report on Wednesday, September 6th. They set a “hold” rating and a $175.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on Johnson & Johnson from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. Barclays lowered their price objective on Johnson & Johnson from $175.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Friday, September 8th. Finally, Atlantic Securities increased their target price on shares of Johnson & Johnson from $167.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, August 4th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Hold” and an average target price of $170.65.
Insiders Place Their Bets
In other Johnson & Johnson news, insider William Hait sold 14,698 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $172.00, for a total transaction of $2,528,056.00. Following the sale, the insider now owns 87,747 shares in the company, valued at $15,092,484. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider William Hait sold 14,698 shares of Johnson & Johnson stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $172.00, for a total transaction of $2,528,056.00. Following the sale, the insider now owns 87,747 shares of the company’s stock, valued at approximately $15,092,484. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Peter Fasolo sold 20,000 shares of the stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $170.32, for a total transaction of $3,406,400.00. Following the completion of the transaction, the vice president now directly owns 102,696 shares of the company’s stock, valued at $17,491,182.72. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.
Johnson & Johnson Stock Down 1.4 %
Shares of NYSE:JNJ opened at $161.43 on Friday. The firm has a fifty day moving average price of $166.17 and a two-hundred day moving average price of $161.67. The company has a market cap of $419.55 billion, a price-to-earnings ratio of 32.68, a PEG ratio of 3.32 and a beta of 0.54. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 0.88. Johnson & Johnson has a one year low of $150.11 and a one year high of $181.04.
Johnson & Johnson (NYSE:JNJ – Get Free Report) last posted its quarterly earnings data on Thursday, July 20th. The company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.18. The company had revenue of $25.53 billion during the quarter, compared to analyst estimates of $24.63 billion. Johnson & Johnson had a return on equity of 36.72% and a net margin of 13.35%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the company earned $2.59 earnings per share. Analysts anticipate that Johnson & Johnson will post 10.03 EPS for the current fiscal year.
Johnson & Johnson Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Monday, August 28th were paid a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend was Friday, August 25th. Johnson & Johnson’s dividend payout ratio is currently 96.36%.
Johnson & Johnson Profile
Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment provides skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR. CI:LABO, NEUTROGENA, and OGX brands; baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; TYLENOL acetaminophen products; SUDAFED cold, flu, and allergy products; BENADRYL and ZYRTEC allergy products; MOTRIN IB ibuprofen products; NICORETTE smoking cessation products; and PEPCID acid reflux products.
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