Crossvault Capital Management LLC trimmed its position in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 0.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,342 shares of the company’s stock after selling 440 shares during the period. Johnson & Johnson comprises approximately 3.7% of Crossvault Capital Management LLC’s portfolio, making the stock its 8th biggest holding. Crossvault Capital Management LLC’s holdings in Johnson & Johnson were worth $9,291,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. RE Dickinson Investment Advisors LLC increased its position in Johnson & Johnson by 163.3% during the first quarter. RE Dickinson Investment Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after buying an additional 98 shares during the last quarter. Advanced Research Investment Solutions LLC grew its position in shares of Johnson & Johnson by 200.0% in the first quarter. Advanced Research Investment Solutions LLC now owns 180 shares of the company’s stock valued at $32,000 after purchasing an additional 120 shares during the last quarter. Morton Brown Family Wealth LLC grew its position in shares of Johnson & Johnson by 78.0% in the second quarter. Morton Brown Family Wealth LLC now owns 178 shares of the company’s stock valued at $32,000 after purchasing an additional 78 shares during the last quarter. Professional Financial Advisors LLC grew its position in shares of Johnson & Johnson by 47.9% in the first quarter. Professional Financial Advisors LLC now owns 210 shares of the company’s stock valued at $37,000 after purchasing an additional 68 shares during the last quarter. Finally, Goodman Advisory Group LLC acquired a new stake in shares of Johnson & Johnson in the second quarter valued at about $39,000. 68.59% of the stock is currently owned by hedge funds and other institutional investors.
Johnson & Johnson Stock Down 3.0 %
Shares of JNJ opened at $169.25 on Monday. The stock has a market cap of $442.50 billion, a price-to-earnings ratio of 23.57, a P/E/G ratio of 3.46 and a beta of 0.57. The company has a quick ratio of 1.18, a current ratio of 1.43 and a debt-to-equity ratio of 0.37. Johnson & Johnson has a 12 month low of $155.72 and a 12 month high of $186.69. The company has a 50-day moving average price of $166.88 and a two-hundred day moving average price of $171.51.
Johnson & Johnson (NYSE:JNJ – Get Rating) last announced its quarterly earnings results 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 analysts’ expectations of $23.44 billion. Johnson & Johnson had a net margin of 19.95% and a return on equity of 35.37%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.60 earnings per share. Equities analysts predict that Johnson & Johnson will post 10.04 EPS for the current fiscal year.
Johnson & Johnson announced that its board has approved a share repurchase program on Wednesday, September 14th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to reacquire up to 1.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
Johnson & Johnson Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Stockholders of record on Tuesday, November 22nd will be paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Monday, November 21st. Johnson & Johnson’s dividend payout ratio (DPR) is currently 62.95%.
Insider Activity
In other news, EVP Kathryn E. Wengel sold 16,410 shares of Johnson & Johnson stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $173.42, for a total value of $2,845,822.20. Following the completion of the transaction, the executive vice president now owns 71,311 shares in the company, valued at $12,366,753.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider William Hait sold 15,000 shares of the firm’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 sale, the insider now owns 80,236 shares of the company’s stock, valued at $13,764,485.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Kathryn E. Wengel sold 16,410 shares of the firm’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $173.42, for a total transaction of $2,845,822.20. Following the completion of the sale, the executive vice president now directly owns 71,311 shares of the company’s stock, valued at approximately $12,366,753.62. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 118,795 shares of company stock worth $20,230,174. Insiders own 0.35% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on JNJ. UBS Group lowered their price target on Johnson & Johnson from $185.00 to $180.00 in a research report on Thursday, July 21st. Bank of America lowered 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. Barclays began coverage on Johnson & Johnson in a research report on Monday, October 17th. They issued an “equal weight” rating and a $175.00 price target on the stock. SVB Leerink lowered their price target on Johnson & Johnson from $200.00 to $194.00 in a research report on Wednesday, July 20th. Finally, Raymond James decreased their target price on Johnson & Johnson from $192.00 to $185.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 19th. Six analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $184.25.
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.
Further Reading
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