Diversified Trust Co Decreases Position in Johnson & Johnson (JNJ)

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Diversified Trust Co reduced its stake in Johnson & Johnson (NYSE:JNJ) by 0.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 42,951 shares of the company’s stock after selling 84 shares during the period. Diversified Trust Co’s holdings in Johnson & Johnson were worth $5,935,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in JNJ. Fundsmith Equity Fund L.P. bought a new position in shares of Johnson & Johnson during the second quarter valued at approximately $552,762,000. Peoples Financial Services CORP. increased its position in shares of Johnson & Johnson by 20.4% during the third quarter. Peoples Financial Services CORP. now owns 30,668 shares of the company’s stock valued at $4,237,000 after acquiring an additional 5,190 shares in the last quarter. Sather Financial Group Inc increased its position in shares of Johnson & Johnson by 3.7% during the second quarter. Sather Financial Group Inc now owns 11,051 shares of the company’s stock valued at $1,341,000 after acquiring an additional 399 shares in the last quarter. QUANTRES ASSET MANAGEMENT Ltd bought a new stake in shares of Johnson & Johnson during the third quarter valued at approximately $829,000. Finally, Foundation Resource Management Inc. bought a new stake in shares of Johnson & Johnson during the third quarter valued at approximately $208,000. 66.56% of the stock is owned by institutional investors.

Shares of JNJ stock opened at $137.60 on Monday. Johnson & Johnson has a 12-month low of $118.62 and a 12-month high of $148.99. 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 $369.17 billion, a P/E ratio of 16.82, a P/E/G ratio of 2.13 and a beta of 0.68.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, January 22nd. The company reported $1.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.95 by $0.02. Johnson & Johnson had a net margin of 18.75% and a return on equity of 35.63%. The company had revenue of $20.39 billion for the quarter, compared to analysts’ expectations of $20.27 billion. During the same quarter last year, the company posted $1.74 earnings per share. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, equities analysts predict that Johnson & Johnson will post 8.57 EPS for the current year.

Johnson & Johnson announced that its Board of Directors has initiated a stock buyback program on Monday, December 17th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 1.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 26th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.62%. The ex-dividend date was Monday, February 25th. Johnson & Johnson’s dividend payout ratio is currently 44.01%.

Several equities research analysts recently weighed in on JNJ shares. Zacks Investment Research downgraded shares of Johnson & Johnson from a “hold” rating to a “sell” rating in a research report on Wednesday, January 16th. Citigroup reduced their price target on shares of Johnson & Johnson from $148.00 to $139.00 and set a “neutral” rating for the company in a research report on Wednesday, January 2nd. ValuEngine raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research report on Thursday, December 13th. Wells Fargo & Co reissued an “outperform” rating and set a $152.00 price target (down previously from $162.00) on shares of Johnson & Johnson in a research report on Monday, January 14th. Finally, Barclays reissued an “equal weight” rating and set a $135.00 price target (down previously from $137.00) on shares of Johnson & Johnson in a research report on Wednesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. Johnson & Johnson presently has an average rating of “Hold” and a consensus target price of $142.81.

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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.

Read More: How to interpret a stock’s beta number

Want to see what other hedge funds are holding JNJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Johnson & Johnson (NYSE:JNJ).

Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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