American National Bank lowered its position in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 4.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,991 shares of the company’s stock after selling 2,957 shares during the quarter. Johnson & Johnson accounts for about 2.7% of American National Bank’s investment portfolio, making the stock its 8th largest position. American National Bank’s holdings in Johnson & Johnson were worth $11,359,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of JNJ. Norges Bank purchased a new stake in shares of Johnson & Johnson during the fourth quarter worth about $4,172,929,000. BlackRock Inc. grew its holdings in Johnson & Johnson by 2.6% during the 4th quarter. BlackRock Inc. now owns 200,021,352 shares of the company’s stock valued at $34,217,654,000 after buying an additional 4,982,885 shares in the last quarter. GQG Partners LLC raised its position in shares of Johnson & Johnson by 1,109.4% during the fourth quarter. GQG Partners LLC now owns 3,954,383 shares of the company’s stock valued at $676,375,000 after buying an additional 3,627,424 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Johnson & Johnson by 1.4% in the first quarter. Vanguard Group Inc. now owns 238,141,110 shares of the company’s stock worth $42,205,749,000 after buying an additional 3,358,478 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Johnson & Johnson by 1.8% during the fourth quarter. State Street Corp now owns 144,677,639 shares of the company’s stock worth $24,750,004,000 after acquiring an additional 2,492,359 shares during the last quarter. 68.59% of the stock is currently owned by institutional investors.
Johnson & Johnson Stock Down 0.8 %
Shares of JNJ opened at $164.97 on Wednesday. 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 market cap of $433.74 billion, a PE ratio of 24.01, a P/E/G ratio of 2.97 and a beta of 0.61. The business has a fifty day moving average of $168.71 and a 200 day moving average of $174.30.
Johnson & Johnson declared that its Board of Directors has approved a stock buyback plan on Wednesday, September 14th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 1.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
Johnson & Johnson Announces Dividend
The firm 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. The ex-dividend date was Monday, August 22nd. This represents a $4.52 annualized dividend and a dividend yield of 2.74%. Johnson & Johnson’s payout ratio is 65.79%.
Analyst Upgrades and Downgrades
Several analysts have commented on JNJ shares. 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 increased their price target on Johnson & Johnson from $190.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, July 13th. UBS Group reduced their price objective on Johnson & Johnson from $185.00 to $180.00 in a research note on Thursday, July 21st. Morgan Stanley lowered their target price on 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, Citigroup reduced their price target on shares of Johnson & Johnson from $205.00 to $201.00 in a research report on Wednesday, July 20th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and an average target price of $189.78.
Johnson & Johnson 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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