AdvisorNet Financial Inc Reduces Position in Johnson & Johnson (NYSE:JNJ)

AdvisorNet Financial Inc lessened its holdings in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,587 shares of the company’s stock after selling 283 shares during the period. AdvisorNet Financial Inc’s holdings in Johnson & Johnson were worth $5,075,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV grew its stake in Johnson & Johnson by 3.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 216,075 shares of the company’s stock valued at $38,355,000 after acquiring an additional 6,328 shares in the last quarter. Epiq Partners LLC grew its stake in Johnson & Johnson by 18.6% during the 2nd quarter. Epiq Partners LLC now owns 17,695 shares of the company’s stock valued at $3,141,000 after acquiring an additional 2,776 shares in the last quarter. Cherrydale Wealth Management LLC grew its stake in Johnson & Johnson by 6.3% during the 2nd quarter. Cherrydale Wealth Management LLC now owns 1,391 shares of the company’s stock valued at $247,000 after acquiring an additional 83 shares in the last quarter. Crestwood Advisors Group LLC grew its stake in Johnson & Johnson by 12.1% during the 2nd quarter. Crestwood Advisors Group LLC now owns 459,173 shares of the company’s stock valued at $81,508,000 after acquiring an additional 49,696 shares in the last quarter. Finally, Centre Asset Management LLC grew its stake in shares of Johnson & Johnson by 43.1% in the 2nd quarter. Centre Asset Management LLC now owns 27,947 shares of the company’s stock valued at $4,961,000 after buying an additional 8,423 shares during the period. Hedge funds and other institutional investors own 68.59% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on JNJ. Citigroup dropped their price target on shares of Johnson & Johnson from $205.00 to $201.00 in a research note 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 note on Monday, September 12th. Wells Fargo & Company increased their price target on shares of Johnson & Johnson from $190.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, July 13th. SVB Leerink dropped their price target on shares of Johnson & Johnson from $200.00 to $194.00 in a research note on Wednesday, July 20th. Finally, UBS Group decreased their price objective on shares of Johnson & Johnson from $185.00 to $180.00 in a report on Thursday, July 21st. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $189.78.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $167.60 on Friday. The firm has a market cap of $440.65 billion, a P/E ratio of 24.40, a P/E/G ratio of 2.95 and a beta of 0.61. Johnson & Johnson has a one year low of $155.72 and a one year high of $186.69. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.17 and a current ratio of 1.42. The firm’s 50 day moving average price is $168.96 and its 200-day moving average price is $174.23.

Johnson & Johnson (NYSE:JNJGet Rating) last released its earnings results on Tuesday, July 19th. The company reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.02. The company had revenue of $24.02 billion for the quarter, compared to analyst estimates of $23.85 billion. Johnson & Johnson had a net margin of 19.21% and a return on equity of 36.14%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.48 EPS. As a group, equities research analysts predict that Johnson & Johnson will post 10.7 EPS for the current year.

Johnson & Johnson announced that its Board of Directors has authorized a share buyback plan on Wednesday, September 14th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 1.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Johnson & Johnson Dividend Announcement

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

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.

See Also

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

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