My Legacy Advisors LLC reduced its stake in Johnson & Johnson (NYSE:JNJ – Get Rating) by 4.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,501 shares of the company’s stock after selling 157 shares during the period. My Legacy Advisors LLC’s holdings in Johnson & Johnson were worth $624,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Patron Partners LLC boosted its stake in Johnson & Johnson by 12.7% during the first quarter. Patron Partners LLC now owns 6,625 shares of the company’s stock valued at $1,174,000 after buying an additional 747 shares during the period. Palisade Capital Management LLC NJ boosted its stake in Johnson & Johnson by 0.3% during the first quarter. Palisade Capital Management LLC NJ now owns 93,141 shares of the company’s stock valued at $16,507,000 after buying an additional 250 shares during the period. Lmcg Investments LLC bought a new stake in Johnson & Johnson during the first quarter valued at $12,462,000. Capital Wealth Planning LLC boosted its stake in Johnson & Johnson by 14.0% during the first quarter. Capital Wealth Planning LLC now owns 916,575 shares of the company’s stock valued at $162,445,000 after buying an additional 112,890 shares during the period. Finally, Tandem Investment Advisors Inc. boosted its stake in Johnson & Johnson by 4.8% during the first quarter. Tandem Investment Advisors Inc. now owns 326,505 shares of the company’s stock valued at $57,867,000 after buying an additional 15,003 shares during the period. 68.59% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on JNJ. Daiwa Capital Markets began coverage on Johnson & Johnson in a research note on Wednesday, June 22nd. They set an “outperform” rating for the company. UBS Group lowered their price target on Johnson & Johnson from $185.00 to $180.00 in a research report on Thursday, July 21st. Citigroup lowered their price target on Johnson & Johnson from $205.00 to $201.00 in a research report on Wednesday, July 20th. Morgan Stanley lowered their price target on Johnson & Johnson from $174.00 to $173.00 and set an “equal weight” rating on the stock in a research report on Monday, September 12th. Finally, SVB Leerink lowered their price target on Johnson & Johnson from $200.00 to $194.00 in a research report on Wednesday, July 20th. Four investment 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $189.78.
Johnson & Johnson Stock Up 1.8 %
Johnson & Johnson (NYSE:JNJ – Get Rating) last announced its quarterly earnings results on Tuesday, July 19th. The company reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.02. Johnson & Johnson had a return on equity of 36.14% and a net margin of 19.21%. The company had revenue of $24.02 billion for the quarter, compared to the consensus estimate of $23.85 billion. During the same quarter in the previous year, the business earned $2.48 EPS. Johnson & Johnson’s revenue was up 3.0% compared to the same quarter last year. On average, equities analysts expect that Johnson & Johnson will post 10.7 EPS for the current year.
Johnson & Johnson declared that its Board of Directors has initiated a share repurchase plan on Wednesday, September 14th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 1.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
Johnson & Johnson Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd were issued a dividend of $1.13 per share. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $4.52 dividend on an annualized basis and a yield of 2.72%. Johnson & Johnson’s dividend payout ratio is presently 65.79%.
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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