Newfound Research LLC boosted its position in shares of Johnson & Johnson (NYSE:JNJ) by 31.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 692 shares of the company’s stock after purchasing an additional 167 shares during the quarter. Newfound Research LLC’s holdings in Johnson & Johnson were worth $112,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Newton One Investments LLC acquired a new position in Johnson & Johnson during the second quarter valued at approximately $31,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Johnson & Johnson in the second quarter valued at approximately $32,000. Robbins Farley LLC acquired a new position in shares of Johnson & Johnson in the second quarter valued at approximately $33,000. Lion Street Advisors LLC acquired a new position in shares of Johnson & Johnson in the second quarter valued at approximately $36,000. Finally, Alpha Paradigm Partners LLC acquired a new position in shares of Johnson & Johnson in the second quarter valued at approximately $47,000. Hedge funds and other institutional investors own 67.14% of the company’s stock.
Several brokerages recently commented on JNJ. Morgan Stanley cut shares of Johnson & Johnson from an “overweight” rating to an “equal weight” rating and set a $187.00 target price for the company. in a report on Tuesday, September 7th. Raymond James reduced their target price on shares of Johnson & Johnson from $183.00 to $178.00 and set an “outperform” rating for the company in a report on Wednesday, October 20th. Zacks Investment Research upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and set a $172.00 target price for the company in a report on Friday, October 22nd. Wells Fargo & Company reaffirmed a “buy” rating on shares of Johnson & Johnson in a research report on Thursday, October 7th. Finally, SVB Leerink reaffirmed a “buy” rating on shares of Johnson & Johnson in a research report on Thursday, July 29th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $187.78.
Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Monday, October 18th. The company reported $2.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.35 by $0.25. Johnson & Johnson had a net margin of 19.55% and a return on equity of 37.90%. The business had revenue of $23.34 billion for the quarter, compared to the consensus estimate of $23.72 billion. During the same period in the prior year, the company posted $2.20 earnings per share. Johnson & Johnson’s revenue was up 10.7% compared to the same quarter last year. On average, equities analysts expect that Johnson & Johnson will post 9.78 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 7th. Shareholders of record on Tuesday, November 23rd will be paid a dividend of $1.06 per share. The ex-dividend date of this dividend is Monday, November 22nd. This represents a $4.24 dividend on an annualized basis and a yield of 2.65%. Johnson & Johnson’s payout ratio is 63.38%.
Johnson & Johnson Profile
Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer Health, Pharmaceutical, and Medical Devices. The Consumer Health segment includes products used in the baby care, oral care, beauty, over-the-counter pharmaceutical, women’s health, and wound care markets.
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