Toronto Dominion Bank lowered its stake in Johnson & Johnson (NYSE:JNJ – Get Rating) by 8.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,961,606 shares of the company’s stock after selling 171,292 shares during the period. Johnson & Johnson comprises 0.6% of Toronto Dominion Bank’s investment portfolio, making the stock its 21st biggest position. Toronto Dominion Bank owned approximately 0.07% of Johnson & Johnson worth $348,154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Johnson & Johnson by 1.4% in the 1st 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 in the last quarter. GQG Partners LLC raised its stake in Johnson & Johnson by 64.4% in the first quarter. GQG Partners LLC now owns 6,501,761 shares of the company’s stock valued at $1,151,931,000 after buying an additional 2,547,378 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Johnson & Johnson by 37.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,653,610 shares of the company’s stock worth $1,179,219,000 after buying an additional 1,805,632 shares during the last quarter. Swiss National Bank boosted its position in shares of Johnson & Johnson by 14.0% during the 1st quarter. Swiss National Bank now owns 11,402,516 shares of the company’s stock worth $2,020,868,000 after acquiring an additional 1,396,500 shares in the last quarter. Finally, Bridgewater Associates LP raised its position in shares of Johnson & Johnson by 40.3% during the 1st quarter. Bridgewater Associates LP now owns 4,345,002 shares of the company’s stock worth $770,065,000 after acquiring an additional 1,247,260 shares in the last quarter. 68.59% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on JNJ. Atlantic Securities reduced their price objective 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. Raymond James decreased their price objective on Johnson & Johnson from $192.00 to $185.00 and set an “outperform” rating for the company in a report on Wednesday, October 19th. Credit Suisse Group began coverage on shares of Johnson & Johnson in a report on Thursday, November 17th. They issued a “neutral” rating and a $170.00 target price on the stock. Bank of America decreased their price target on shares of Johnson & Johnson from $185.00 to $178.00 and set a “neutral” rating for the company in a research note on Friday, October 14th. Finally, Citigroup dropped their price objective on shares of Johnson & Johnson from $201.00 to $198.00 in a research note on Wednesday, October 5th. Seven research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and an average target price of $181.33.
Johnson & Johnson Stock Performance
Johnson & Johnson (NYSE:JNJ – Get Rating) last announced its quarterly earnings data on Tuesday, October 18th. The company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. Johnson & Johnson had a return on equity of 35.37% and a net margin of 19.95%. The firm had revenue of $23.79 billion for the quarter, compared to analyst estimates of $23.44 billion. During the same quarter in the prior year, the company posted $2.60 earnings per share. Johnson & Johnson’s quarterly revenue was up 1.9% on a year-over-year basis. Research analysts expect that Johnson & Johnson will post 10.04 EPS for the current year.
Johnson & Johnson Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 6th. Investors 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 yield of 2.55%. The ex-dividend date is Monday, November 21st. Johnson & Johnson’s dividend payout ratio is currently 62.95%.
Johnson & Johnson announced that its board has initiated a share repurchase plan on Wednesday, September 14th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 1.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.
Insiders Place Their Bets
In other news, VP Peter Fasolo sold 22,864 shares of Johnson & Johnson stock in a transaction that occurred on Wednesday, October 19th. The shares were sold at an average price of $164.50, for a total transaction of $3,761,128.00. Following the completion of the sale, the vice president now directly owns 114,676 shares in the company, valued at approximately $18,864,202. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, VP Peter Fasolo sold 22,864 shares of Johnson & Johnson stock in a transaction on Wednesday, October 19th. The stock was sold at an average price of $164.50, for a total transaction of $3,761,128.00. Following the completion of the transaction, the vice president now owns 114,676 shares of the company’s stock, valued at approximately $18,864,202. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Robert J. Decker sold 16,928 shares of the business’s stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $175.00, for a total transaction of $2,962,400.00. Following the completion of the sale, the chief accounting officer now owns 15,473 shares in the company, valued at $2,707,775. The disclosure for this sale can be found here. Over the last three months, insiders have sold 212,646 shares of company stock worth $36,791,022. 0.35% of the stock is owned by company insiders.
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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