Wealthsource Partners LLC lowered its position in Johnson & Johnson (NYSE:JNJ – Get Rating) by 49.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,018 shares of the company’s stock after selling 24,037 shares during the quarter. Wealthsource Partners LLC’s holdings in Johnson & Johnson were worth $4,441,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Taylor & Morgan Wealth Management LLC increased its position in Johnson & Johnson by 1.6% during the 2nd quarter. Taylor & Morgan Wealth Management LLC now owns 3,580 shares of the company’s stock worth $635,000 after purchasing an additional 57 shares in the last quarter. Circle Wealth Management LLC increased its position in Johnson & Johnson by 0.5% in the 1st quarter. Circle Wealth Management LLC now owns 11,326 shares of the company’s stock valued at $2,007,000 after acquiring an additional 59 shares during the period. Red Wave Investments LLC increased its position in Johnson & Johnson by 2.0% in the 2nd quarter. Red Wave Investments LLC now owns 2,986 shares of the company’s stock valued at $530,000 after acquiring an additional 59 shares during the period. Argus Investors Counsel Inc. increased its position in Johnson & Johnson by 0.6% in the 2nd quarter. Argus Investors Counsel Inc. now owns 10,936 shares of the company’s stock valued at $1,941,000 after acquiring an additional 61 shares during the period. Finally, Alta Capital Management LLC increased its position in Johnson & Johnson by 0.4% in the 2nd quarter. Alta Capital Management LLC now owns 15,824 shares of the company’s stock valued at $2,808,000 after acquiring an additional 61 shares during the period. Institutional investors and hedge funds own 68.59% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have issued reports on JNJ. Atlantic Securities decreased their price target on shares of Johnson & Johnson from $165.00 to $160.00 and set a “neutral” rating for the company in a research report on Wednesday, October 19th. StockNews.com assumed coverage on shares of Johnson & Johnson in a research note on Wednesday, October 12th. They issued a “strong-buy” rating on the stock. Citigroup dropped their price objective on shares of Johnson & Johnson from $201.00 to $198.00 in a research note on Wednesday, October 5th. Sanford C. Bernstein lowered their target price on shares of Johnson & Johnson from $194.00 to $190.00 in a report on Wednesday, October 19th. Finally, 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 report on Wednesday, October 19th. Seven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $181.33.
Insider Buying and Selling
Johnson & Johnson Trading Up 0.5 %
JNJ stock opened at $176.82 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.18 and a current ratio of 1.43. Johnson & Johnson has a one year low of $155.72 and a one year high of $186.69. The company’s 50 day moving average price is $168.35 and its two-hundred day moving average price is $171.28. The company has a market capitalization of $462.29 billion, a PE ratio of 24.63, a price-to-earnings-growth ratio of 3.49 and a beta of 0.57.
Johnson & Johnson (NYSE:JNJ – Get Rating) last issued its earnings results on Tuesday, October 18th. The company reported $2.55 EPS for the quarter, topping the consensus estimate of $2.49 by $0.06. Johnson & Johnson had a net margin of 19.95% and a return on equity of 35.37%. The company had revenue of $23.79 billion for the quarter, compared to the consensus estimate of $23.44 billion. During the same period in the previous year, the firm earned $2.60 earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, analysts predict that Johnson & Johnson will post 10.04 earnings per share for the current fiscal year.
Johnson & Johnson Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Stockholders of record on Tuesday, November 22nd will be issued a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Monday, November 21st. Johnson & Johnson’s dividend payout ratio (DPR) is presently 62.95%.
Johnson & Johnson announced that its board has initiated a stock buyback program on Wednesday, September 14th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to purchase up to 1.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.
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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