Perigon Wealth Management LLC lessened its stake in Johnson & Johnson (NYSE:JNJ) by 7.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,997 shares of the company’s stock after selling 3,361 shares during the quarter. Johnson & Johnson accounts for approximately 1.3% of Perigon Wealth Management LLC’s holdings, making the stock its 17th biggest position. Perigon Wealth Management LLC’s holdings in Johnson & Johnson were worth $5,571,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently bought and sold shares of JNJ. Rossmore Private Capital increased its holdings in Johnson & Johnson by 1.1% in the 2nd quarter. Rossmore Private Capital now owns 58,112 shares of the company’s stock worth $8,094,000 after buying an additional 645 shares in the last quarter. Greatmark Investment Partners Inc. increased its holdings in Johnson & Johnson by 1.7% in the 2nd quarter. Greatmark Investment Partners Inc. now owns 74,296 shares of the company’s stock worth $10,348,000 after buying an additional 1,217 shares in the last quarter. Magnus Financial Group LLC increased its holdings in Johnson & Johnson by 44.4% in the 2nd quarter. Magnus Financial Group LLC now owns 7,347 shares of the company’s stock worth $1,023,000 after buying an additional 2,258 shares in the last quarter. Gilbert & Cook Inc. increased its holdings in Johnson & Johnson by 3.2% in the 2nd quarter. Gilbert & Cook Inc. now owns 3,292 shares of the company’s stock worth $459,000 after buying an additional 102 shares in the last quarter. Finally, Condor Capital Management increased its holdings in Johnson & Johnson by 0.4% in the 2nd quarter. Condor Capital Management now owns 119,648 shares of the company’s stock worth $16,665,000 after buying an additional 492 shares in the last quarter. 67.23% of the stock is owned by hedge funds and other institutional investors.
JNJ has been the subject of several research analyst reports. Royal Bank of Canada reiterated a “buy” rating on shares of Johnson & Johnson in a report on Tuesday, July 16th. Barclays initiated coverage on Johnson & Johnson in a report on Friday, June 21st. They issued a “hold” rating and a $140.00 price objective for the company. Goldman Sachs Group set a $169.00 price objective on Johnson & Johnson and gave the stock a “buy” rating in a report on Tuesday. Bank of America restated a “hold” rating and set a $150.00 price target on shares of Johnson & Johnson in a research note on Tuesday, July 16th. Finally, Wells Fargo & Co restated an “outperform” rating and set a $157.00 price target (up from $152.00) on shares of Johnson & Johnson in a research note on Monday, May 6th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $150.60.
Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, July 16th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.16. The business had revenue of $20.56 billion for the quarter, compared to the consensus estimate of $20.39 billion. Johnson & Johnson had a return on equity of 38.63% and a net margin of 20.08%. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.10 earnings per share. As a group, analysts expect that Johnson & Johnson will post 8.6 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be given a $0.95 dividend. The ex-dividend date is Monday, August 26th. This represents a $3.80 dividend on an annualized basis and a yield of 2.95%. Johnson & Johnson’s dividend payout ratio is currently 46.45%.
In other news, Director Marillyn A. Hewson bought 3,000 shares of Johnson & Johnson stock in a transaction dated Tuesday, June 11th. The stock was acquired 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 filing with the SEC, which is available at this hyperlink. Insiders own 0.23% of the company’s stock.
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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