Atalanta Sosnoff Capital LLC cut its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 46.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 236,364 shares of the company’s stock after selling 201,380 shares during the period. Atalanta Sosnoff Capital LLC’s holdings in Johnson & Johnson were worth $30,503,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in JNJ. Fundsmith Equity Fund L.P. acquired a new position in Johnson & Johnson during the 2nd quarter valued at about $552,762,000. Vanguard Group Inc lifted its position in Johnson & Johnson by 1.5% during the 3rd quarter. Vanguard Group Inc now owns 213,433,449 shares of the company’s stock valued at $29,490,100,000 after purchasing an additional 3,235,861 shares during the period. Vanguard Group Inc. lifted its position in Johnson & Johnson by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 213,433,449 shares of the company’s stock valued at $29,490,100,000 after purchasing an additional 3,235,861 shares during the period. Morgan Stanley lifted its position in Johnson & Johnson by 6.3% during the 3rd quarter. Morgan Stanley now owns 22,920,470 shares of the company’s stock valued at $3,166,921,000 after purchasing an additional 1,352,484 shares during the period. Finally, Royal London Asset Management Ltd. acquired a new position in Johnson & Johnson during the 2nd quarter valued at about $150,576,000. Institutional investors own 67.29% of the company’s stock.
JNJ stock traded up $0.54 during mid-day trading on Monday, hitting $136.52. 4,661,976 shares of the company were exchanged, compared to its average volume of 6,780,161. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.20 and a current ratio of 1.47. The company has a market capitalization of $362.76 billion, a P/E ratio of 16.69, a price-to-earnings-growth ratio of 2.07 and a beta of 0.68. Johnson & Johnson has a 1-year low of $118.62 and a 1-year high of $148.99.
Johnson & Johnson announced that its Board of Directors has approved a stock repurchase program on Monday, December 17th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 1.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.
A number of research analysts have issued reports on JNJ shares. Zacks Investment Research upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and set a $155.00 target price on the stock in a research report on Wednesday, March 27th. Barclays reiterated an “equal weight” rating and issued a $135.00 price target (down from $137.00) on shares of Johnson & Johnson in a research report on Wednesday, January 23rd. Morgan Stanley cut their price target on shares of Johnson & Johnson from $153.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 2nd. Citigroup cut their price target on shares of Johnson & Johnson from $148.00 to $139.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 2nd. Finally, Wells Fargo & Co reiterated an “outperform” rating and issued a $152.00 price target (down from $162.00) on shares of Johnson & Johnson in a research report on Monday, January 14th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $143.58.
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Johnson & Johnson Company Profile
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The 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, 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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