Stockman Wealth Management Inc. lowered its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 6.7% in the first quarter, Holdings Channel.com reports. The institutional investor owned 11,550 shares of the company’s stock after selling 829 shares during the period. Stockman Wealth Management Inc.’s holdings in Johnson & Johnson were worth $1,515,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. Exchange Traded Concepts LLC acquired a new position in Johnson & Johnson in the 4th quarter worth about $31,000. University of Texas Texas AM Investment Managment Co. acquired a new position in Johnson & Johnson in the 4th quarter worth about $31,000. Advocacy Wealth Management Services LLC increased its holdings in Johnson & Johnson by 38.2% in the 1st quarter. Advocacy Wealth Management Services LLC now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 83 shares in the last quarter. Lion Street Advisors LLC acquired a new position in Johnson & Johnson in the 1st quarter worth about $45,000. Finally, Joseph P. Lucia & Associates LLC increased its holdings in Johnson & Johnson by 50.8% in the 1st quarter. Joseph P. Lucia & Associates LLC now owns 374 shares of the company’s stock worth $49,000 after purchasing an additional 126 shares in the last quarter. 67.66% of the stock is owned by institutional investors.
In other Johnson & Johnson news, Director William D. Perez bought 500 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The shares were bought at an average price of $127.69 per share, for a total transaction of $63,845.00. Following the transaction, the director now directly owns 16,030 shares in the company, valued at $2,046,870.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is owned by corporate insiders.
Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, April 14th. The company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.03 by $0.27. Johnson & Johnson had a return on equity of 39.71% and a net margin of 24.47%. The company had revenue of $20.69 billion for the quarter, compared to analyst estimates of $19.48 billion. During the same quarter in the prior year, the company earned $2.10 EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. Sell-side analysts forecast that Johnson & Johnson will post 7.68 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Tuesday, May 26th will be given a dividend of $1.01 per share. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $4.04 annualized dividend and a dividend yield of 2.80%. Johnson & Johnson’s dividend payout ratio is presently 43.78%.
A number of brokerages have issued reports on JNJ. Credit Suisse Group reaffirmed a “buy” rating and issued a $161.00 target price on shares of Johnson & Johnson in a report on Tuesday, April 28th. Stifel Nicolaus upped their target price on Johnson & Johnson from $140.00 to $155.00 and gave the stock a “hold” rating in a report on Wednesday, April 15th. Bank of America raised Johnson & Johnson from a “neutral” rating to a “buy” rating and upped their target price for the stock from $150.00 to $175.00 in a report on Wednesday, April 22nd. Morgan Stanley upped their target price on Johnson & Johnson from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Finally, Wells Fargo & Co raised Johnson & Johnson to a “hold” rating in a research note on Wednesday, April 22nd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $163.47.
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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