Norman Fields Gottscho Capital Management LLC lowered its holdings in Johnson & Johnson (NYSE:JNJ) by 20.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,291 shares of the company’s stock after selling 1,845 shares during the period. Norman Fields Gottscho Capital Management LLC’s holdings in Johnson & Johnson were worth $941,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Towercrest Capital Management increased its position in Johnson & Johnson by 2.1% during the third quarter. Towercrest Capital Management now owns 5,314 shares of the company’s stock worth $734,000 after buying an additional 111 shares during the last quarter. Meristem Family Wealth LLC increased its position in Johnson & Johnson by 0.4% during the third quarter. Meristem Family Wealth LLC now owns 26,304 shares of the company’s stock worth $3,634,000 after buying an additional 112 shares during the last quarter. Tortoise Investment Management LLC increased its position in Johnson & Johnson by 4.9% during the third quarter. Tortoise Investment Management LLC now owns 3,933 shares of the company’s stock worth $543,000 after buying an additional 184 shares during the last quarter. Ellenbecker Investment Group increased its position in Johnson & Johnson by 9.9% during the fourth quarter. Ellenbecker Investment Group now owns 2,364 shares of the company’s stock worth $305,000 after buying an additional 212 shares during the last quarter. Finally, Stillwater Investment Management LLC increased its position in Johnson & Johnson by 0.7% during the fourth quarter. Stillwater Investment Management LLC now owns 31,117 shares of the company’s stock worth $4,016,000 after buying an additional 216 shares during the last quarter. Institutional investors own 66.43% of the company’s stock.
JNJ has been the topic of several analyst reports. ValuEngine raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research report on Thursday, December 13th. Zacks Investment Research raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and set a $164.00 target price on the stock in a research report on Wednesday, December 12th. Morgan Stanley lowered their target price 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. Barclays reissued an “equal weight” rating and set a $135.00 target price (down from $137.00) on shares of Johnson & Johnson in a research report on Wednesday, January 23rd. Finally, Citigroup lowered their target price 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. Two analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $142.81.
Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, January 22nd. The company reported $1.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.95 by $0.02. The company had revenue of $20.39 billion for the quarter, compared to the consensus estimate of $20.27 billion. Johnson & Johnson had a return on equity of 35.63% and a net margin of 18.75%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same period last year, the business posted $1.74 earnings per share. On average, sell-side analysts predict that Johnson & Johnson will post 8.57 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 26th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend was Monday, February 25th. Johnson & Johnson’s dividend payout ratio is currently 44.01%.
Johnson & Johnson announced that its Board of Directors has initiated a stock buyback plan on Monday, December 17th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 1.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
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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