S&T Bank PA reduced its stake in Johnson & Johnson (NYSE: JNJ – Receive Rating) by 3.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm held 7,361 shares of the company’s stock after selling 245 shares during the quarter. S&T Bank PA’s holdings in Johnson & Johnson were worth $1,306,000 as of its most recent SEC filing.
Other institutional investors also changed their holding in the company. Vanguard Group Inc. raised its stake in Johnson & Johnson by 1.4% during the first quarter. After purchasing an additional 3,358,478 shares during this period, Vanguard Group Inc. holds 238,141,110 shares of the company valued at $42,205,749,000. BlackRock Inc. raised its stake in Johnson & Johnson by 0.4% during the first quarter. After buying an additional 777,837 shares during this period, BlackRock Inc. holds 200,799,189 shares of the company valued at $35,587,638,000. Wellington Management Group LLP raised its stake in Johnson & Johnson by 0.8% during 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 during the period. Bank of New York Mellon Corp raised its stake in Johnson & Johnson shares by 1.6% in the first quarter. Bank of New York Mellon Corp holds 32,070,396 shares of the company’s stock, valued at $5,683,837,000, after acquiring an additional 509,818 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Johnson & Johnson shares by 1.9% in the first quarter. After acquiring an additional 328,297 shares during the period, Charles Schwab Investment Management Inc. Now owns 17,189,229 shares of the company’s stock valued at $3,046,449,000. Institutional investors and hedge funds own 68.59% of the company’s stock.
Wall Street analysts forecast growth
JNJ has been the subject of several research analyst reports. Credit Suisse Group initiated coverage on shares of Johnson & Johnson in a research note on Thursday. He issued a “Neutral” rating and $170.00 price target on the stock. Barclays initiated coverage on shares of Johnson & Johnson in a research note on Monday, October 17. He issued an “equal weight” rating and $175.00 price target on the stock. Sanford C. Bernstein decreased his price target on shares of Johnson & Johnson from $194.00 to $190.00 in a research note on Wednesday, October 19. Atlantic Securities cut their price target on shares of Johnson & Johnson from $165.00 to $160.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 19. Finally, Morgan Stanley reduced its target price on shares of Johnson & Johnson from $174.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 19. Seven analysts have a hold rating on the company, four have a buy rating and one has a strong buy rating on the company. Johnson & Johnson has an average rating of “medium buy” and a consensus price target of $181.33, according to Marketbeat.
Johnson & Johnson is trading up 0.8%
The NYSE JNJ opened at $176.20 on Monday. The company has a quick ratio of 1.18, current ratio of 1.43 and debt-to-equity ratio of 0.37. Johnson & Johnson’s 52 week low is $155.72 and its 52 week high is $186.69. The stock has a market capitalization of $460.67 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 3.49, and a beta of 0.57. The firm’s 50-day moving average is $167.84 and its 200-day moving average is $171.29.
Johnson & Johnson (NYSE: JNJ – GET Rating) last issued its earnings results on Tuesday, October 18. The company reported earnings per share (EPS) of $2.55 for the quarter, beating 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 business had revenue of $23.79 billion during the quarter, compared with analysts’ expectations of $23.44 billion. During the same quarter last year, the business posted EPS of $2.60. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, research analysts expect Johnson & Johnson to post 10.04 EPS for the current fiscal year.
Johnson & Johnson declares dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. A $1.13 dividend will be paid to investors of record on Tuesday, November 22. The ex-dividend date for this dividend is Monday, November 21. This represents a $4.52 annual dividend and a yield of 2.57%. Johnson & Johnson’s Dividend Payout Ratio (DPR) is 62.95%.
Johnson & Johnson announced that its board of directors has approved a share buyback program on Wednesday, September 14 that allows the company to buy back $5.00 billion of shares. This buyback authorization allows the company to purchase up to 1.2% of its stock through open market purchases. A stock buyback program is usually an indication that a company’s board believes that its shares are undervalued.
Insider activity at Johnson & Johnson
In related news, insider William Hatt sold 15,000 shares of the company’s stock in one transaction on Monday, October 24. Shares were sold at an average price of $171.55 for a total value of $2,573,250.00. Following the completion of the sale, the insider now owns 80,236 shares in the company, valued at approximately $13,764,485.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Johnson & Johnson news, VP Peter Fasolo sold 22,864 shares of the company’s stock in a transaction on Wednesday, Oct. 19. 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 transaction, the Vice President now holds 114,676 shares in the company, valued at approximately $18,864,202. The sale was disclosed in a legal filing with the SEC, which can be accessed via this link. In addition, insider William Hatt sold 15,000 shares of the company’s stock in one transaction on Monday, October 24. The stock was sold at an average price of $171.55, for a total transaction of $2,573,250.00. Following the transaction, the insider now owns 80,236 shares of the company’s stock, valued at approximately $13,764,485.80. Disclosure of this sale can be found here. Insiders sold a total of 118,795 shares of company stock valued at $20,230,174 over the past 90 days. 0.35% of the stock is owned by insiders.
Johnson & Johnson Company Profile
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures and sells a variety of products in the healthcare sector around the world. 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 AVEENO, Clean & Clear, DR.
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