Personal Resources Investment & Strategic Management Inc. lowered its holdings in Johnson & Johnson (NYSE:JNJ) by 18.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,788 shares of the company’s stock after selling 394 shares during the quarter. Personal Resources Investment & Strategic Management Inc.’s holdings in Johnson & Johnson were worth $248,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Fox Run Management L.L.C. purchased a new position in shares of Johnson & Johnson in the second quarter worth $897,000. Baillie Gifford & Co. raised its holdings in shares of Johnson & Johnson by 3.4% in the second quarter. Baillie Gifford & Co. now owns 275,550 shares of the company’s stock worth $33,435,000 after buying an additional 9,185 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Johnson & Johnson by 7,431.9% in the second quarter. Assenagon Asset Management S.A. now owns 519,096 shares of the company’s stock worth $62,987,000 after buying an additional 512,204 shares during the last quarter. Liberty Capital Management Inc. raised its holdings in shares of Johnson & Johnson by 6.2% in the second quarter. Liberty Capital Management Inc. now owns 7,534 shares of the company’s stock worth $914,000 after buying an additional 442 shares during the last quarter. Finally, Cornerstone Investment Partners LLC raised its holdings in shares of Johnson & Johnson by 3.8% in the second quarter. Cornerstone Investment Partners LLC now owns 797,610 shares of the company’s stock worth $96,782,000 after buying an additional 28,977 shares during the last quarter. Institutional investors own 68.98% of the company’s stock.
JNJ has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of Johnson & Johnson from a “hold” rating to a “sell” rating in a report on Wednesday, January 16th. Morgan Stanley decreased their price target on shares of Johnson & Johnson from $153.00 to $130.00 and set an “equal weight” rating for the company in a report on Wednesday, January 2nd. Credit Suisse Group raised their price target on shares of Johnson & Johnson from $149.00 to $152.00 and gave the stock an “outperform” rating in a report on Wednesday, October 17th. Citigroup increased their price objective on shares of Johnson & Johnson from $137.00 to $148.00 and gave the stock a “neutral” rating in a research note on Monday, October 22nd. Finally, Wells Fargo & Co reiterated an “outperform” rating and issued a $152.00 price objective (down previously from $162.00) on shares of Johnson & Johnson in a research note on Monday, January 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. Johnson & Johnson presently has a consensus rating of “Hold” and an average price target of $142.20.
Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, January 22nd. The company reported $1.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.95 by $0.02. The firm had revenue of $20.39 billion for the quarter, compared to analyst estimates of $20.27 billion. Johnson & Johnson had a net margin of 18.75% and a return on equity of 35.09%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.74 earnings per share. Research analysts predict that Johnson & Johnson will post 8.57 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 12th. Investors of record on Tuesday, February 26th will be given a dividend of $0.90 per share. The ex-dividend date is Monday, February 25th. This represents a $3.60 annualized dividend and a yield of 2.68%. Johnson & Johnson’s dividend payout ratio is presently 44.01%.
Johnson & Johnson announced that its board has approved a stock buyback plan on Monday, December 17th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 1.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
In related news, CAO Ronald A. Kapusta sold 3,643 shares of the firm’s stock in a transaction on Thursday, December 13th. The shares were sold at an average price of $147.31, for a total transaction of $536,650.33. Following the sale, the chief accounting officer now owns 13,641 shares in the company, valued at $2,009,455.71. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Charles Prince purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, December 14th. The shares were purchased at an average price of $134.37 per share, for a total transaction of $268,740.00. Following the transaction, the director now owns 28,520 shares of the company’s stock, valued at approximately $3,832,232.40. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 465,746 shares of company stock worth $67,951,916. 0.22% of the stock is owned by company insiders.
About Johnson & Johnson
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. Its Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, RoC, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.
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