Highland Capital Management LLC reduced its position in Johnson & Johnson (NYSE:JNJ) by 48.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,226 shares of the company’s stock after selling 74,267 shares during the quarter. Johnson & Johnson comprises approximately 0.9% of Highland Capital Management LLC’s investment portfolio, making the stock its 27th biggest holding. Highland Capital Management LLC’s holdings in Johnson & Johnson were worth $10,224,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Stuart Chaussee & Associates Inc. lifted its position in Johnson & Johnson by 20.7% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 466 shares of the company’s stock valued at $60,000 after purchasing an additional 80 shares during the period. Selective Wealth Management acquired a new position in Johnson & Johnson during the third quarter valued at $105,000. CKW Financial Group lifted its position in Johnson & Johnson by 18.8% during the fourth quarter. CKW Financial Group now owns 810 shares of the company’s stock valued at $105,000 after purchasing an additional 128 shares during the period. Mackey Komara & Dankovich LLC acquired a new position in Johnson & Johnson during the fourth quarter valued at $148,000. Finally, Ifrah Financial Services Inc. acquired a new position in Johnson & Johnson during the third quarter valued at $203,000. 67.33% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently 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 for the company in a research report on Wednesday, March 27th. Morgan Stanley upped their price objective on shares of Johnson & Johnson from $134.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. Barclays reiterated an “equal weight” rating and issued a $135.00 price objective (down previously from $137.00) on shares of Johnson & Johnson in a research report on Wednesday, January 23rd. Citigroup upped their price objective on shares of Johnson & Johnson from $139.00 to $147.00 and gave the stock a “neutral” rating in a research report on Monday, February 25th. Finally, BMO Capital Markets upped their price objective on shares of Johnson & Johnson from $154.00 to $157.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Johnson & Johnson currently has a consensus rating of “Buy” and an average target price of $146.40.
Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, April 16th. The company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.07. The business had revenue of $20.02 billion during the quarter, compared to the consensus estimate of $19.55 billion. Johnson & Johnson had a net margin of 17.99% and a return on equity of 35.79%. The company’s revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.06 earnings per share. Equities research analysts forecast that Johnson & Johnson will post 8.6 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 28th will be paid a dividend of $0.95 per share. The ex-dividend date is Friday, May 24th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.68%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $0.90. Johnson & Johnson’s payout ratio is currently 44.01%.
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About Johnson & Johnson
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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