Wealth Advisors Inc. increased its holdings in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 1.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,255 shares of the company’s stock after purchasing an additional 400 shares during the quarter. Johnson & Johnson accounts for 1.9% of Wealth Advisors Inc.’s portfolio, making the stock its 13th biggest holding. Wealth Advisors Inc.’s holdings in Johnson & Johnson were worth $3,950,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in 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 acquiring an additional 3,358,478 shares during the period. BlackRock Inc. raised its position 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 valued at $35,587,638,000 after buying an additional 777,837 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Johnson & Johnson by 0.8% in the first quarter. Wellington Management Group LLP now owns 32,772,594 shares of the company’s stock valued at $5,808,286,000 after purchasing an additional 265,330 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Johnson & Johnson by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 32,070,396 shares of the company’s stock valued at $5,683,837,000 after purchasing an additional 509,818 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Johnson & Johnson by 1.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 17,189,229 shares of the company’s stock valued at $3,046,449,000 after purchasing an additional 328,297 shares in the last quarter. 68.59% of the stock is owned by institutional investors.
Analyst Ratings Changes
JNJ has been the subject of several recent analyst reports. Morgan Stanley dropped their price objective on shares of Johnson & Johnson from $174.00 to $170.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 19th. Sanford C. Bernstein lowered their target price on shares of Johnson & Johnson from $194.00 to $190.00 in a research note on Wednesday, October 19th. Atlantic Securities lowered their target price on shares of Johnson & Johnson from $165.00 to $160.00 and set a “neutral” rating for the company in a research note on Wednesday, October 19th. Raymond James lowered their target price on shares of Johnson & Johnson from $192.00 to $185.00 and set an “outperform” rating for the company in a research note on Wednesday, October 19th. Finally, UBS Group lowered their target price on shares of Johnson & Johnson from $185.00 to $180.00 in a research note on Thursday, July 21st. Six research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $184.25.
Insiders Place Their Bets
Johnson & Johnson Stock Performance
JNJ stock opened at $169.25 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.43 and a quick ratio of 1.18. The business has a 50-day moving average price of $166.88 and a 200 day moving average price of $171.59. The company has a market capitalization of $442.50 billion, a P/E ratio of 23.57, a PEG ratio of 3.42 and a beta of 0.57. Johnson & Johnson has a 1-year low of $155.72 and a 1-year high of $186.69.
Johnson & Johnson (NYSE:JNJ – Get Rating) last announced its earnings results on Tuesday, October 18th. The company reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. The business had revenue of $23.79 billion during the quarter, compared to the consensus estimate of $23.44 billion. Johnson & Johnson had a net margin of 19.95% and a return on equity of 35.37%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.60 earnings per share. As a group, equities research analysts forecast that Johnson & Johnson will post 10.04 EPS for the current fiscal year.
Johnson & Johnson Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Tuesday, November 22nd will be issued a $1.13 dividend. The ex-dividend date is Monday, November 21st. This represents a $4.52 dividend on an annualized basis and a yield of 2.67%. Johnson & Johnson’s dividend payout ratio is presently 62.95%.
Johnson & Johnson announced that its Board of Directors has approved a share buyback plan on Wednesday, September 14th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 1.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership 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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