First Heartland Consultants Inc. decreased its stake in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 3.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,778 shares of the company’s stock after selling 460 shares during the period. First Heartland Consultants Inc.’s holdings in Johnson & Johnson were worth $2,090,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of JNJ. Norges Bank purchased a new stake in Johnson & Johnson during the fourth quarter worth approximately $4,172,929,000. BlackRock Inc. grew its stake in Johnson & Johnson by 2.6% during the fourth quarter. BlackRock Inc. now owns 200,021,352 shares of the company’s stock worth $34,217,654,000 after buying an additional 4,982,885 shares during the period. GQG Partners LLC grew its stake in Johnson & Johnson by 1,109.4% during the fourth quarter. GQG Partners LLC now owns 3,954,383 shares of the company’s stock worth $676,375,000 after buying an additional 3,627,424 shares during the period. Vanguard Group Inc. boosted its stake 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 valued at $42,205,749,000 after purchasing an additional 3,358,478 shares during the period. Finally, State Street Corp boosted its stake in shares of Johnson & Johnson by 1.8% in the fourth quarter. State Street Corp now owns 144,677,639 shares of the company’s stock valued at $24,750,004,000 after purchasing an additional 2,492,359 shares during the period. 68.59% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on JNJ shares. SVB Leerink decreased their target price on shares of Johnson & Johnson from $200.00 to $194.00 in a research note on Wednesday, July 20th. Morgan Stanley decreased their target price 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. Citigroup decreased their target price on shares of Johnson & Johnson from $205.00 to $201.00 in a research note on Wednesday, July 20th. Wells Fargo & Company upped their target price 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. Finally, Daiwa Capital Markets began coverage on shares of Johnson & Johnson in a research note on Wednesday, June 22nd. They set an “outperform” rating on the stock. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $189.78.
Johnson & Johnson Trading Up 1.8 %
Johnson & Johnson (NYSE:JNJ – Get Rating) last issued its 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. The company had revenue of $24.02 billion for the quarter, compared to analysts’ expectations of $23.85 billion. Johnson & Johnson had a net margin of 19.21% and a return on equity of 36.14%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.48 earnings per share. As a group, research analysts predict that Johnson & Johnson will post 10.7 earnings per share for the current fiscal year.
Johnson & Johnson Announces Dividend
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 of this dividend was Monday, August 22nd. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.72%. Johnson & Johnson’s dividend payout ratio (DPR) is 65.79%.
Johnson & Johnson announced that its Board of Directors has authorized a share buyback program on Wednesday, September 14th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 1.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.
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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