Comerica Bank lowered its position in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 2.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 586,120 shares of the company’s stock after selling 16,505 shares during the period. Johnson & Johnson comprises about 0.8% of Comerica Bank’s portfolio, making the stock its 8th biggest position. Comerica Bank’s holdings in Johnson & Johnson were worth $100,631,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Pinnacle Associates Ltd. grew its position in Johnson & Johnson by 1.0% during the 2nd quarter. Pinnacle Associates Ltd. now owns 892,847 shares of the company’s stock worth $158,489,000 after acquiring an additional 8,547 shares during the last quarter. Avantax Advisory Services Inc. grew its position in shares of Johnson & Johnson by 3.2% in the 2nd quarter. Avantax Advisory Services Inc. now owns 129,271 shares of the company’s stock valued at $22,947,000 after buying an additional 3,999 shares during the last quarter. Brown Advisory Inc. grew its position in shares of Johnson & Johnson by 1.3% in the 2nd quarter. Brown Advisory Inc. now owns 1,191,515 shares of the company’s stock valued at $208,625,000 after buying an additional 15,743 shares during the last quarter. Centaurus Financial Inc. grew its position in shares of Johnson & Johnson by 8.0% in the 2nd quarter. Centaurus Financial Inc. now owns 14,702 shares of the company’s stock valued at $2,610,000 after buying an additional 1,087 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its position in shares of Johnson & Johnson by 54.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 235,223 shares of the company’s stock valued at $41,754,000 after buying an additional 82,890 shares during the last quarter. Institutional investors own 68.59% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have commented on JNJ. Bank of America reduced their price target on Johnson & Johnson from $185.00 to $178.00 and set a “neutral” rating on the stock in a research report on Friday, October 14th. Wells Fargo & Company boosted their price objective on Johnson & Johnson from $190.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, July 13th. Atlantic Securities dropped their price objective on Johnson & Johnson from $165.00 to $160.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 19th. Barclays assumed coverage on Johnson & Johnson in a research note on Monday, October 17th. They issued an “equal weight” rating and a $175.00 price objective on the stock. Finally, Morgan Stanley dropped their price objective on Johnson & Johnson from $174.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 19th. Six analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average price target of $184.25.
Johnson & Johnson Stock Performance
Shares of JNJ opened at $174.87 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.17 and a current ratio of 1.42. The stock has a 50 day moving average price of $165.34 and a two-hundred day moving average price of $172.27. The firm has a market capitalization of $459.76 billion, a P/E ratio of 24.36, a P/E/G ratio of 3.65 and a beta of 0.56. Johnson & Johnson has a 52 week low of $155.72 and a 52 week high of $186.69.
Johnson & Johnson (NYSE:JNJ – Get Rating) last issued its quarterly earnings data on Tuesday, October 18th. The company reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. The firm had revenue of $23.79 billion during the quarter, compared to analyst estimates of $23.44 billion. Johnson & Johnson had a return on equity of 35.32% and a net margin of 19.95%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.60 EPS. Equities analysts forecast that Johnson & Johnson will post 10.04 earnings per share for the current fiscal year.
Johnson & Johnson Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Tuesday, November 22nd will be issued a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date is Monday, November 21st. Johnson & Johnson’s dividend payout ratio is currently 62.95%.
Johnson & Johnson declared that its board has initiated a stock repurchase plan on Wednesday, September 14th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to repurchase up to 1.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
Insiders Place Their Bets
In other news, insider William Hait sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, October 24th. The stock was sold at an average price of $171.55, for a total value of $2,573,250.00. Following the completion of the transaction, the insider now directly owns 80,236 shares of the company’s stock, valued at $13,764,485.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, VP Peter Fasolo sold 29,275 shares of the company’s stock in a transaction that occurred on Monday, October 24th. The stock was sold at an average price of $171.36, for a total value of $5,016,564.00. Following the completion of the transaction, the vice president now directly owns 114,676 shares of the company’s stock, valued at $19,650,879.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider William Hait sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, October 24th. The shares were sold at an average price of $171.55, for a total value of $2,573,250.00. Following the completion of the transaction, the insider now directly owns 80,236 shares of the company’s stock, valued at $13,764,485.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,139 shares of company stock valued at $11,350,942. Corporate insiders own 0.35% of the company’s stock.
About Johnson & Johnson
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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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