Patten & Patten Inc. TN lowered its stake in Johnson & Johnson (NYSE:JNJ) by 0.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,809 shares of the company’s stock after selling 839 shares during the quarter. Johnson & Johnson comprises about 1.4% of Patten & Patten Inc. TN’s portfolio, making the stock its 18th biggest holding. Patten & Patten Inc. TN’s holdings in Johnson & Johnson were worth $12,926,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. Meeder Asset Management Inc. lifted its holdings in Johnson & Johnson by 29.1% in the fourth quarter. Meeder Asset Management Inc. now owns 98,256 shares of the company’s stock worth $12,679,000 after purchasing an additional 22,157 shares during the period. Freestone Capital Holdings LLC lifted its holdings in Johnson & Johnson by 8.3% in the fourth quarter. Freestone Capital Holdings LLC now owns 25,526 shares of the company’s stock worth $3,294,000 after purchasing an additional 1,954 shares during the period. Lcnb Corp lifted its holdings in Johnson & Johnson by 2.8% in the fourth quarter. Lcnb Corp now owns 15,279 shares of the company’s stock worth $1,972,000 after purchasing an additional 410 shares during the period. Smart Money Group LLC acquired a new stake in Johnson & Johnson in the fourth quarter worth about $224,000. Finally, OLD Second National Bank of Aurora lifted its holdings in Johnson & Johnson by 0.7% in the fourth quarter. OLD Second National Bank of Aurora now owns 39,716 shares of the company’s stock worth $5,126,000 after purchasing an additional 280 shares during the period. 66.78% of the stock is owned by institutional investors and hedge funds.
In other Johnson & Johnson news, Director Marillyn A. Hewson purchased 3,000 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was bought at an average cost of $139.68 per share, with a total value of $419,040.00. Following the acquisition, the director now owns 3,000 shares of the company’s stock, valued at $419,040. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is currently owned by corporate insiders.
Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, July 16th. The company reported $2.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.42 by $0.16. Johnson & Johnson had a net margin of 20.08% and a return on equity of 38.57%. The company had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $20.39 billion. During the same period in the prior year, the company earned $2.10 EPS. Johnson & Johnson’s revenue was down 1.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Johnson & Johnson will post 8.6 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Monday, August 26th. Johnson & Johnson’s payout ratio is 46.45%.
Several equities research analysts recently weighed in on JNJ shares. Bank of America reaffirmed a “hold” rating and issued a $150.00 price objective on shares of Johnson & Johnson in a report on Tuesday, July 16th. Goldman Sachs Group started coverage on shares of Johnson & Johnson in a report on Tuesday, May 28th. They issued a “buy” rating for the company. Royal Bank of Canada reaffirmed a “buy” rating on shares of Johnson & Johnson in a report on Tuesday, July 16th. Barclays started coverage on shares of Johnson & Johnson in a report on Friday, June 21st. They issued a “hold” rating and a $140.00 price objective for the company. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and issued a $157.00 price objective (up previously from $152.00) on shares of Johnson & Johnson in a report on Monday, May 6th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $148.56.
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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