According to a Holdings Channel report, in the second quarter Lorne Steinberg Wealth Management Inc. reduced its stake in Johnson & Johnson (NYSE:JNJ – Get Rating) by 3.3%. The firm held 7,430 shares of the company’s stock after selling 251 shares during the period. At the end of the most recent quarter, Lorne Steinberg Wealth Management Inc. at Johnson & Johnson The holding was valued at $1,319,000.
Several other institutional investors and hedge funds have also added or reduced their holdings in JNJ. Palisade Capital Management LLC NJ boosted its stake in Johnson & Johnson shares by 0.3% in the first quarter. Palisade Capital Management LLC NJ now owns 93,141 shares of the company valued at $16,507,000 after acquiring an additional 250 shares in the last quarter. Lmcg Investments LLC purchased a new stake in shares of Johnson & Johnson in the first quarter valued at approximately $12,462,000. Capital Wealth Planning LLC boosted its position in shares of Johnson & Johnson to 14.0% during the first quarter. Capital Wealth Planning LLC now owns 916,575 shares of the company’s stock valued at $162,445,000 after buying an additional 112,890 shares during the period. Tandem Investment Advisors Inc. raised its position in Johnson & Johnson to 4.8% during the first quarter. Tandem Investment Advisors Inc. after buying an additional 15,003 shares during the last quarter. holds 326,505 shares of the company’s stock valued at $57,867,000. Finally, Tcwp LLC acquired a new position in Johnson & Johnson during the first quarter worth approximately $946,000. Institutional investors hold 68.59% of the company’s stock.
insiders place their bets
In other news, VP Peter Fasolo sold 22,864 shares of Johnson & Johnson stock in a transaction on Wednesday, October 19. The stock was sold at an average price of $164.50 for a total value of $3,761,128.00. Following 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 filing with the SEC, which is available on the SEC website. In other news, EVP Katherine E. Wengel sold 16,410 shares of Johnson & Johnson stock in a transaction on Wednesday, November 9. The stock was sold at an average price of $173.42 for a total value of $2,845,822.20. Following the transaction, the executive vice president now holds 71,311 shares in the company, valued at approximately $12,366,753.62. The sale was disclosed in a filing with the SEC, which is available on the SEC website. Additionally, VP Peter Fasolo sold 22,864 shares of Johnson & Johnson stock in a transaction on Wednesday, October 19. Shares were sold at an average price of $164.50 for a total value 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. Disclosure of this sale can be found here. Insiders have sold a total of 118,795 shares of company stock valued at $20,230,174 over the last 90 days. Company insiders hold 0.35% of the company’s stock.
Johnson & Johnson Price Performance
Shares of Johnson & Johnson opened Monday at $176.20. The stock’s 50-day moving average price is $167.84 and its 200-day moving average price is $171.29. Johnson & Johnson’s one year low was $155.72 and one year high was $186.69. The company has a debt-to-equity ratio of 0.37, current ratio of 1.43 and quick ratio of 1.18. The firm has a market cap 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.
Johnson & Johnson (NYSE: JNJ – GET Rating) last posted its quarterly earnings data on Tuesday, October 18. The company reported EPS of $2.55 for the quarter, which topped analysts’ consensus estimates of $2.49 by $0.06. Johnson & Johnson’s return on equity was 35.37% and net margin was 19.95%. The firm had revenue of $23.79 billion for the quarter, compared with analyst estimates of $23.44 billion. During the same quarter last year, the company earned $2.60 EPS. The company’s revenue was up 1.9% on a year-on-year basis. As a group, research analysts expect Johnson & Johnson to post 10.04 EPS for the current fiscal year.
Johnson & Johnson announced that its board of directors has initiated a stock buyback plan on Wednesday, September 14 that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to buy back up to 1.2% of its stock through open market purchases. A stock repurchase plan is often a sign that a company’s board believes its stock is undervalued.
Johnson & Johnson dividend announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record will be paid a dividend of $1.13 per share on Tuesday, November 22. The ex-dividend date is Monday, November 21. This represents a $4.52 dividend and a yield of 2.57% on an annualized basis. The Dividend Payout Ratio (DPR) of Johnson & Johnson currently stands at 62.95%.
analyzer upgrade and downgrade
Several research analysts recently commented on JNJ shares. Bank of America lowered its price target on Johnson & Johnson from $185.00 to $178.00 and set a “neutral” rating on the company in a research report on Friday, October 14. Raymond James cut his price target on Johnson & Johnson from $192.00 to $185.00 and set an “outperform” rating on the company in a research report on Wednesday, October 19. Morgan Stanley cut their price target on Johnson & Johnson from $174.00 to $170.00 and set an “equal weight” rating on the company in a research report on Wednesday, October 19. Barclays initiated coverage on Johnson & Johnson in a research report on Monday, October 17. They set an “Equal Weight” rating and $175.00 price target on the company. Finally, Atlantic Securities reduced its price objective on Johnson & Johnson from $165.00 to $160.00 and set a “neutral” rating for the company in a research report on Wednesday, October 19. Seven equity research analysts have a hold rating on the stock, four have issued a buy rating and one has a strong buy rating on the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.33.
Johnson & Johnson 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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