Close Asset Management Ltd Acquires 2,065 Shares of Johnson & Johnson (NYSE:JNJ)

Close Asset Management Ltd increased its holdings in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 3.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,100 shares of the company’s stock after purchasing an additional 2,065 shares during the quarter. Johnson & Johnson accounts for 0.6% of Close Asset Management Ltd’s portfolio, making the stock its 28th biggest holding. Close Asset Management Ltd’s holdings in Johnson & Johnson were worth $11,304,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of JNJ. Morton Brown Family Wealth LLC lifted its holdings in Johnson & Johnson by 78.0% in the second quarter. Morton Brown Family Wealth LLC now owns 178 shares of the company’s stock valued at $32,000 after acquiring an additional 78 shares during the period. Goodman Advisory Group LLC bought a new position in Johnson & Johnson in the second quarter valued at about $39,000. Cardinal Capital Management Inc. lifted its holdings in Johnson & Johnson by 333.3% in the second quarter. Cardinal Capital Management Inc. now owns 260 shares of the company’s stock valued at $46,000 after acquiring an additional 200 shares during the period. First Bank & Trust lifted its holdings in Johnson & Johnson by 69.6% in the second quarter. First Bank & Trust now owns 380 shares of the company’s stock valued at $67,000 after acquiring an additional 156 shares during the period. Finally, Heritage Wealth Management LLC bought a new position in Johnson & Johnson in the second quarter valued at about $84,000. 67.94% of the stock is owned by institutional investors.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $174.88 on Thursday. The stock has a market capitalization of $457.22 billion, a PE ratio of 24.36, a P/E/G ratio of 3.45 and a beta of 0.56. Johnson & Johnson has a 1-year low of $155.72 and a 1-year high of $186.69. The business has a 50 day simple moving average of $176.22 and a two-hundred day simple moving average of $171.59. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.43 and a quick ratio of 1.18.

Johnson & Johnson (NYSE:JNJGet Rating) last posted its quarterly earnings data on Tuesday, October 18th. The company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.06. The business had revenue of $23.79 billion during the quarter, compared to analyst estimates of $23.44 billion. Johnson & Johnson had a return on equity of 35.37% and a net margin of 19.95%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the company earned $2.60 EPS. On average, research analysts predict that Johnson & Johnson will post 10.04 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 7th. Stockholders of record on Tuesday, February 21st will be paid a $1.13 dividend. This represents a $4.52 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend is Friday, February 17th. Johnson & Johnson’s payout ratio is 62.95%.

Johnson & Johnson announced that its Board of Directors has authorized a share buyback plan on Wednesday, September 14th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to purchase up to 1.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Atlantic Securities lowered their target price on Johnson & Johnson from $165.00 to $160.00 and set a “neutral” rating on the stock in a report on Wednesday, October 19th. Credit Suisse Group assumed coverage on Johnson & Johnson in a research report on Thursday, November 17th. They issued a “neutral” rating and a $170.00 price target for the company. Bank of America reduced their price target on Johnson & Johnson from $185.00 to $178.00 and set a “neutral” rating for the company in a research report on Friday, October 14th. Citigroup upped their price target on Johnson & Johnson from $198.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, December 12th. Finally, Morgan Stanley reduced their price target on Johnson & Johnson from $178.00 to $176.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 6th. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $182.42.

Insider Activity

In other news, EVP Jennifer L. Taubert sold 76,923 shares of the firm’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $176.78, for a total value of $13,598,447.94. Following the completion of the sale, the executive vice president now directly owns 126,456 shares of the company’s stock, valued at approximately $22,354,891.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Johnson & Johnson news, EVP Ashley Mcevoy sold 73,323 shares of Johnson & Johnson stock in a transaction on Wednesday, November 30th. The stock was sold at an average price of $175.47, for a total transaction of $12,865,986.81. Following the completion of the sale, the executive vice president now directly owns 41,813 shares of the company’s stock, valued at approximately $7,336,927.11. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jennifer L. Taubert sold 76,923 shares of Johnson & Johnson stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $176.78, for a total value of $13,598,447.94. Following the sale, the executive vice president now directly owns 126,456 shares of the company’s stock, valued at $22,354,891.68. The disclosure for this sale can be found here. Insiders sold 300,750 shares of company stock valued at $52,311,677 in the last ninety days. Insiders own 0.35% of the company’s stock.

About Johnson & Johnson

(Get Rating)

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.

Recommended Stories

Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

Receive News & Ratings for Johnson & Johnson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Johnson & Johnson and related companies with MarketBeat.com's FREE daily email newsletter.