Carlton Hofferkamp & Jenks Wealth Management LLC lowered its holdings in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 2.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,038 shares of the company’s stock after selling 371 shares during the quarter. Johnson & Johnson accounts for about 1.4% of Carlton Hofferkamp & Jenks Wealth Management LLC’s portfolio, making the stock its 16th biggest position. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Johnson & Johnson were worth $3,038,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the business. Magnolia Capital Management Ltd. raised its position in Johnson & Johnson by 0.5% during the first quarter. Magnolia Capital Management Ltd. now owns 11,162 shares of the company’s stock valued at $1,978,000 after purchasing an additional 55 shares in the last quarter. Howard Financial Services LTD. increased its holdings in shares of Johnson & Johnson by 2.1% in the first quarter. Howard Financial Services LTD. now owns 2,757 shares of the company’s stock worth $489,000 after buying an additional 57 shares during the period. American Financial Advisors LLC increased its holdings in shares of Johnson & Johnson by 2.1% in the first quarter. American Financial Advisors LLC now owns 2,715 shares of the company’s stock worth $481,000 after buying an additional 57 shares during the period. Taylor & Morgan Wealth Management LLC increased its holdings in shares of Johnson & Johnson by 1.6% in the second quarter. Taylor & Morgan Wealth Management LLC now owns 3,580 shares of the company’s stock worth $635,000 after buying an additional 57 shares during the period. Finally, Kwmg LLC increased its holdings in shares of Johnson & Johnson by 2.6% in the first quarter. Kwmg LLC now owns 2,354 shares of the company’s stock worth $417,000 after buying an additional 59 shares during the period. Institutional investors and hedge funds own 68.59% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the company. SVB Leerink reduced their price target on Johnson & Johnson from $200.00 to $194.00 in a report on Wednesday, July 20th. Daiwa Capital Markets assumed coverage on Johnson & Johnson in a report on Wednesday, June 22nd. They set an “outperform” rating on the stock. Morgan Stanley reduced their price target on Johnson & Johnson from $174.00 to $173.00 and set an “equal weight” rating on the stock in a report on Monday, September 12th. Citigroup reduced their price target on Johnson & Johnson from $205.00 to $201.00 in a report on Wednesday, July 20th. Finally, UBS Group cut their price objective on Johnson & Johnson from $185.00 to $180.00 in a research report on Thursday, July 21st. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $189.78.
Johnson & Johnson Stock Performance
Johnson & Johnson (NYSE:JNJ – Get Rating) last released its quarterly earnings data on Tuesday, July 19th. The company reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.02. The business had revenue of $24.02 billion for the quarter, compared to analysts’ expectations of $23.85 billion. Johnson & Johnson had a return on equity of 36.14% and a net margin of 19.21%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.48 EPS. Equities research analysts anticipate that Johnson & Johnson will post 10.7 earnings per share for the current fiscal year.
Johnson & Johnson Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd were given a $1.13 dividend. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $4.52 annualized dividend and a yield of 2.77%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 65.79%.
Johnson & Johnson announced that its Board of Directors has authorized a share repurchase plan on Wednesday, September 14th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to purchase up to 1.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.
Johnson & Johnson Company Profile
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment offers baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.
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