Red Spruce Capital LLC Lowers Position in Johnson & Johnson (NYSE:JNJ)

Red Spruce Capital LLC decreased its position in Johnson & Johnson (NYSE:JNJGet Rating) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,465 shares of the company’s stock after selling 121 shares during the period. Johnson & Johnson comprises 1.4% of Red Spruce Capital LLC’s portfolio, making the stock its 23rd largest holding. Red Spruce Capital LLC’s holdings in Johnson & Johnson were worth $2,035,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in JNJ. Magnolia Capital Management Ltd. raised its position 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 buying an additional 55 shares during the last quarter. Howard Financial Services LTD. increased its position in Johnson & Johnson by 2.1% during the first quarter. Howard Financial Services LTD. now owns 2,757 shares of the company’s stock worth $489,000 after purchasing an additional 57 shares during the last quarter. 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 purchasing an additional 57 shares during the last quarter. Kwmg LLC increased its position in Johnson & Johnson by 2.6% during the first quarter. Kwmg LLC now owns 2,354 shares of the company’s stock worth $417,000 after purchasing an additional 59 shares during the last quarter. Finally, Circle Wealth Management LLC increased its position in Johnson & Johnson by 0.5% during the first quarter. Circle Wealth Management LLC now owns 11,326 shares of the company’s stock worth $2,007,000 after purchasing an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 68.59% of the company’s stock.

Johnson & Johnson Price Performance

JNJ opened at $167.60 on Friday. 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 has a 52-week low of $155.72 and a 52-week high of $186.69. The company has a 50 day moving average of $169.17 and a two-hundred day moving average of $174.20. The company has a market cap of $440.65 billion, a P/E ratio of 24.40, a P/E/G ratio of 2.94 and a beta of 0.61.

Johnson & Johnson (NYSE:JNJGet Rating) last announced its earnings results on Tuesday, July 19th. The company reported $2.59 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.02. The business had revenue of $24.02 billion during the quarter, compared to the consensus estimate of $23.85 billion. Johnson & Johnson had a net margin of 19.21% and a return on equity of 36.14%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.48 earnings per share. On average, analysts expect that Johnson & Johnson will post 10.7 earnings per share for the current year.

Johnson & Johnson declared that its board has approved a share buyback plan on Wednesday, September 14th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 1.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 23rd were paid a $1.13 dividend. The ex-dividend date was Monday, August 22nd. This represents a $4.52 annualized dividend and a dividend yield of 2.70%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 65.79%.

Analysts Set New Price Targets

JNJ has been the subject of several research analyst reports. SVB Leerink dropped their price target on shares of Johnson & Johnson from $200.00 to $194.00 in a research report on Wednesday, July 20th. Wells Fargo & Company upped their price target on shares of Johnson & Johnson from $190.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 13th. Citigroup dropped their price target on shares of Johnson & Johnson from $205.00 to $201.00 in a research report on Wednesday, July 20th. Morgan Stanley dropped 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 research report on Monday, September 12th. Finally, UBS Group decreased their price objective on shares of Johnson & Johnson from $185.00 to $180.00 in a research note on Thursday, July 21st. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned 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 a consensus price target of $189.78.

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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