Johnson & Johnson (NYSE:JNJ) Stake Trimmed by Summit Financial Group Inc.

Summit Financial Group Inc. lowered its position in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 1.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,217 shares of the company’s stock after selling 745 shares during the quarter. Johnson & Johnson accounts for about 2.7% of Summit Financial Group Inc.’s investment portfolio, making the stock its 4th largest position. Summit Financial Group Inc.’s holdings in Johnson & Johnson were worth $6,961,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Family CFO Inc purchased a new position in shares of Johnson & Johnson in the fourth quarter worth $26,000. RE Dickinson Investment Advisors LLC lifted its holdings in shares of Johnson & Johnson by 163.3% in the first quarter. RE Dickinson Investment Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after buying an additional 98 shares in the last quarter. Advanced Research Investment Solutions LLC lifted its holdings in shares of Johnson & Johnson by 200.0% in the first quarter. Advanced Research Investment Solutions LLC now owns 180 shares of the company’s stock worth $32,000 after buying an additional 120 shares in the last quarter. Professional Financial Advisors LLC lifted its holdings in shares of Johnson & Johnson by 47.9% in the first quarter. Professional Financial Advisors LLC now owns 210 shares of the company’s stock worth $37,000 after buying an additional 68 shares in the last quarter. Finally, Joseph P. Lucia & Associates LLC purchased a new position in shares of Johnson & Johnson in the first quarter worth $38,000. Hedge funds and other institutional investors own 68.59% of the company’s stock.

Johnson & Johnson Trading Up 1.5 %

JNJ stock 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 twelve month low of $155.72 and a twelve month high of $186.69. The stock has a market capitalization of $440.65 billion, a price-to-earnings ratio of 24.40, a price-to-earnings-growth ratio of 2.95 and a beta of 0.61. The firm’s fifty day simple moving average is $168.96 and its two-hundred day simple moving average is $174.23.

Johnson & Johnson (NYSE:JNJGet Rating) last posted its quarterly earnings data on Tuesday, July 19th. The company reported $2.59 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.02. Johnson & Johnson had a net margin of 19.21% and a return on equity of 36.14%. The business had revenue of $24.02 billion for the quarter, compared to analysts’ expectations of $23.85 billion. During the same quarter in the previous year, the business posted $2.48 earnings per share. The business’s revenue was up 3.0% compared to the same quarter last year. As a group, analysts anticipate that Johnson & Johnson will post 10.7 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

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

Johnson & Johnson declared that its board has approved a share buyback program on Wednesday, September 14th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 1.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have recently commented on JNJ shares. Daiwa Capital Markets started coverage on shares of Johnson & Johnson in a report on Wednesday, June 22nd. They issued an “outperform” rating on the stock. SVB Leerink decreased their price target on shares of Johnson & Johnson from $200.00 to $194.00 in a research note 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 company an “overweight” rating in a research note on Wednesday, July 13th. Citigroup decreased their price target on shares of Johnson & Johnson from $205.00 to $201.00 in a research note on Wednesday, July 20th. Finally, Morgan Stanley decreased their price target on shares of Johnson & Johnson from $174.00 to $173.00 and set an “equal weight” rating on the stock in a research note on Monday, September 12th. Four 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $189.78.

Johnson & Johnson Profile

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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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