Ayalon Insurance Comp Ltd. reduced its position in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 61.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 879 shares of the company’s stock after selling 1,400 shares during the period. Ayalon Insurance Comp Ltd.’s holdings in Johnson & Johnson were worth $156,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Johnson & Johnson by 1.4% during 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 during the last quarter. BlackRock Inc. grew its stake in shares of Johnson & Johnson by 0.4% during the first quarter. BlackRock Inc. now owns 200,799,189 shares of the company’s stock worth $35,587,638,000 after buying an additional 777,837 shares during the last quarter. State Street Corp grew its stake 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 buying an additional 2,492,359 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Johnson & Johnson by 0.8% during the first quarter. Wellington Management Group LLP now owns 32,772,594 shares of the company’s stock worth $5,808,286,000 after buying an additional 265,330 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Johnson & Johnson by 1.6% during the first quarter. Bank of New York Mellon Corp now owns 32,070,396 shares of the company’s stock worth $5,683,837,000 after buying an additional 509,818 shares during the last quarter. 68.59% of the stock is currently owned by institutional investors and hedge funds.
Johnson & Johnson Price Performance
Shares of NYSE JNJ opened at $163.28 on Thursday. The firm’s 50-day moving average price is $168.25 and its 200-day moving average price is $174.16. Johnson & Johnson has a 1-year low of $155.72 and a 1-year high of $186.69. The firm has a market capitalization of $429.29 billion, a P/E ratio of 23.77, a P/E/G ratio of 2.97 and a beta of 0.61. The company has a current ratio of 1.42, a quick ratio of 1.17 and a debt-to-equity ratio of 0.37.
Johnson & Johnson announced that its board has authorized a share buyback program 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 stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Johnson & Johnson Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd were issued a $1.13 dividend. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.77%. Johnson & Johnson’s dividend payout ratio is presently 65.79%.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the stock. SVB Leerink reduced their price objective on shares of Johnson & Johnson from $200.00 to $194.00 in a research note on Wednesday, July 20th. Wells Fargo & Company boosted their price objective on shares of Johnson & Johnson from $190.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 13th. Morgan Stanley reduced their price objective 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. Daiwa Capital Markets assumed coverage on shares of Johnson & Johnson in a research note on Wednesday, June 22nd. They issued an “outperform” rating on the stock. Finally, UBS Group reduced their price objective on shares of Johnson & Johnson from $185.00 to $180.00 in a research note on Thursday, July 21st. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $189.78.
About Johnson & Johnson
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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