Grandview Asset Management LLC trimmed its holdings in Johnson & Johnson (NYSE:JNJ – Get Rating) by 8.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,350 shares of the company’s stock after selling 1,281 shares during the quarter. Johnson & Johnson comprises 1.3% of Grandview Asset Management LLC’s portfolio, making the stock its 19th biggest holding. Grandview Asset Management LLC’s holdings in Johnson & Johnson were worth $2,370,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in JNJ. Family CFO Inc bought a new stake in Johnson & Johnson during the 4th quarter worth about $26,000. RE Dickinson Investment Advisors LLC raised its holdings in Johnson & Johnson by 163.3% during the 1st quarter. RE Dickinson Investment Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after purchasing an additional 98 shares during the last quarter. Advanced Research Investment Solutions LLC raised its holdings in Johnson & Johnson by 200.0% during the 1st quarter. Advanced Research Investment Solutions LLC now owns 180 shares of the company’s stock worth $32,000 after purchasing an additional 120 shares during the last quarter. Professional Financial Advisors LLC raised its holdings in Johnson & Johnson by 47.9% during the 1st quarter. Professional Financial Advisors LLC now owns 210 shares of the company’s stock worth $37,000 after purchasing an additional 68 shares during the last quarter. Finally, Joseph P. Lucia & Associates LLC bought a new stake in Johnson & Johnson during the 1st quarter worth about $38,000. 68.59% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on JNJ shares. SVB Leerink dropped their price objective on Johnson & Johnson from $200.00 to $194.00 in a report on Wednesday, July 20th. Citigroup decreased their target price on Johnson & Johnson from $205.00 to $201.00 in a research report on Wednesday, July 20th. Morgan Stanley decreased 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. Daiwa Capital Markets initiated coverage on Johnson & Johnson in a research report on Wednesday, June 22nd. They set an “outperform” rating for the company. Finally, Wells Fargo & Company boosted their target price on Johnson & Johnson from $190.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 13th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $189.78.
Johnson & Johnson Price Performance
Johnson & Johnson (NYSE:JNJ – Get Rating) last released its quarterly earnings results on Tuesday, July 19th. The company reported $2.59 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.02. Johnson & Johnson had a return on equity of 36.14% and a net margin of 19.21%. The firm had revenue of $24.02 billion during the quarter, compared to the consensus estimate of $23.85 billion. During the same quarter in the prior year, the firm posted $2.48 EPS. The business’s revenue was up 3.0% on a year-over-year basis. Sell-side analysts predict that Johnson & Johnson will post 10.7 EPS for the current fiscal year.
Johnson & Johnson announced that its Board of Directors has initiated a share repurchase program on Wednesday, September 14th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 1.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
Johnson & Johnson Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 23rd were given a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend was Monday, August 22nd. Johnson & Johnson’s dividend payout ratio (DPR) is currently 65.79%.
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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