Centerpoint Advisors LLC increased its stake in Johnson & Johnson (NYSE:JNJ – Get Rating) by 14.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 13,409 shares of the company’s stock after purchasing an additional 1,692 shares during the quarter. Johnson & Johnson makes up approximately 1.1% of Centerpoint Advisors LLC’s investment portfolio, making the stock its 20th largest position. Centerpoint Advisors LLC’s holdings in Johnson & Johnson were worth $2,377,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. 1900 Wealth Management LLC lifted its stake in Johnson & Johnson by 9.9% in the first quarter. 1900 Wealth Management LLC now owns 8,898 shares of the company’s stock valued at $1,577,000 after acquiring an additional 798 shares during the last quarter. Cyrus J. Lawrence LLC acquired a new stake in Johnson & Johnson in the 1st quarter valued at about $10,084,000. Bill Few Associates Inc. grew its holdings in Johnson & Johnson by 9.3% during the first quarter. Bill Few Associates Inc. now owns 8,653 shares of the company’s stock worth $1,534,000 after purchasing an additional 734 shares during the period. American Financial Advisors LLC increased its position in Johnson & Johnson by 2.1% during the first quarter. American Financial Advisors LLC now owns 2,715 shares of the company’s stock worth $481,000 after buying an additional 57 shares during the last quarter. Finally, Alta Wealth Advisors LLC raised its stake in Johnson & Johnson by 5.1% in the first quarter. Alta Wealth Advisors LLC now owns 3,112 shares of the company’s stock valued at $552,000 after buying an additional 152 shares during the period. 68.78% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the company. Daiwa Capital Markets assumed coverage on Johnson & Johnson in a report on Wednesday, June 22nd. They set an “outperform” rating on the stock. The Goldman Sachs Group increased their price objective on shares of Johnson & Johnson from $163.00 to $181.00 and gave the company a “neutral” rating in a research report on Tuesday, April 12th. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 17th. Morgan Stanley boosted their price objective on Johnson & Johnson from $173.00 to $174.00 and gave the stock an “equal weight” rating in a report on Friday, July 8th. Finally, Credit Suisse Group increased their target price on Johnson & Johnson from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 20th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $191.13.
Johnson & Johnson Price Performance
Johnson & Johnson (NYSE:JNJ – Get Rating) last posted its quarterly earnings data on Tuesday, July 19th. The company reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.02. Johnson & Johnson had a net margin of 20.90% and a return on equity of 36.59%. The business had revenue of $24.02 billion during the quarter, compared to analysts’ expectations of $23.85 billion. During the same quarter in the prior year, the business posted $2.48 earnings per share. Johnson & Johnson’s revenue was up 3.0% compared to the same quarter last year. As a group, equities analysts predict that Johnson & Johnson will post 10.2 earnings per share for the current fiscal year.
Johnson & Johnson Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 23rd will be given a dividend of $1.13 per share. The ex-dividend date of this dividend is Monday, August 22nd. This represents a $4.52 annualized dividend and a yield of 2.65%. Johnson & Johnson’s dividend payout ratio is currently 60.92%.
Insiders Place Their Bets
In other news, EVP Kathryn E. Wengel sold 40,000 shares of Johnson & Johnson stock in a transaction on Friday, June 10th. The stock was sold at an average price of $173.00, for a total value of $6,920,000.00. Following the transaction, the executive vice president now owns 71,311 shares in the company, valued at approximately $12,336,803. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Robert J. Decker sold 8,462 shares of the firm’s stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $180.00, for a total value of $1,523,160.00. Following the sale, the chief accounting officer now directly owns 15,473 shares in the company, valued at approximately $2,785,140. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kathryn E. Wengel sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, June 10th. The stock was sold at an average price of $173.00, for a total transaction of $6,920,000.00. Following the transaction, the executive vice president now owns 71,311 shares of the company’s stock, valued at $12,336,803. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.
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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