Newman Dignan & Sheerar Inc. trimmed its holdings in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 1.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,277 shares of the company’s stock after selling 368 shares during the period. Johnson & Johnson accounts for about 1.8% of Newman Dignan & Sheerar Inc.’s investment portfolio, making the stock its 12th biggest holding. Newman Dignan & Sheerar Inc.’s holdings in Johnson & Johnson were worth $5,197,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of JNJ. Cooper Financial Group raised its stake in shares of Johnson & Johnson by 5.2% during the first quarter. Cooper Financial Group now owns 9,484 shares of the company’s stock worth $1,681,000 after buying an additional 466 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co increased its stake in Johnson & Johnson by 8.6% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 67,618 shares of the company’s stock valued at $14,975,000 after purchasing an additional 5,327 shares in the last quarter. Cantor Fitzgerald Investment Advisor L.P increased its stake in Johnson & Johnson by 88.9% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 175,194 shares of the company’s stock valued at $31,049,000 after purchasing an additional 82,429 shares in the last quarter. IFM Investors Pty Ltd increased its stake in Johnson & Johnson by 20.1% in the first quarter. IFM Investors Pty Ltd now owns 418,999 shares of the company’s stock valued at $74,259,000 after purchasing an additional 70,221 shares in the last quarter. Finally, Kwmg LLC increased its stake in Johnson & Johnson by 2.6% in the first quarter. Kwmg LLC now owns 2,354 shares of the company’s stock valued at $417,000 after purchasing an additional 59 shares in the last quarter. 68.59% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts have commented on the stock. Barclays assumed coverage on shares of Johnson & Johnson in a research note on Monday, October 17th. They issued an “equal weight” rating and a $175.00 target price for the company. Raymond James lowered their target price on shares of Johnson & Johnson from $192.00 to $185.00 and set an “outperform” rating for the company in a research note on Wednesday, October 19th. Wells Fargo & Company upped their price target on shares of Johnson & Johnson from $190.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, July 13th. Bank of America reduced their price target on shares of Johnson & Johnson from $185.00 to $178.00 and set a “neutral” rating for the company in a report on Friday, October 14th. Finally, Atlantic Securities reduced their price target on shares of Johnson & Johnson from $165.00 to $160.00 and set a “neutral” rating for the company in a report on Wednesday, October 19th. Six analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.25.
Insider Buying and Selling at Johnson & Johnson
In other Johnson & Johnson news, VP Peter Fasolo sold 22,864 shares of the stock in a transaction on Wednesday, October 19th. The shares were sold at an average price of $164.50, for a total value of $3,761,128.00. Following the completion of the sale, the vice president now owns 114,676 shares in the company, valued at $18,864,202. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Johnson & Johnson news, insider William Hait sold 15,000 shares of the stock in a transaction 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 in the company, valued at $13,764,485.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Peter Fasolo sold 22,864 shares of the stock in a transaction dated Wednesday, October 19th. The shares were sold at an average price of $164.50, for a total transaction of $3,761,128.00. Following the completion of the transaction, the vice president now directly owns 114,676 shares in the company, valued at $18,864,202. The disclosure for this sale can be found here. Insiders sold a total of 67,139 shares of company stock worth $11,350,942 over the last quarter. 0.35% of the stock is currently owned by insiders.
Johnson & Johnson Stock Performance
Shares of JNJ opened at $170.72 on Friday. Johnson & Johnson has a 12 month low of $155.72 and a 12 month high of $186.69. The firm has a fifty day simple moving average of $165.77 and a 200 day simple moving average of $172.10. The stock has a market capitalization of $446.34 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 3.69 and a beta of 0.57. The company has a current ratio of 1.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.37.
Johnson & Johnson (NYSE:JNJ – Get Rating) last announced its earnings results on Tuesday, October 18th. The company reported $2.55 EPS for the quarter, topping the consensus estimate of $2.49 by $0.06. Johnson & Johnson had a net margin of 19.95% and a return on equity of 35.37%. The business had revenue of $23.79 billion during the quarter, compared to analysts’ expectations of $23.44 billion. During the same quarter in the prior year, the company posted $2.60 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. Research analysts forecast that Johnson & Johnson will post 10.04 EPS for the current fiscal year.
Johnson & Johnson Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders 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 yield of 2.65%. The ex-dividend date is Monday, November 21st. Johnson & Johnson’s dividend payout ratio is currently 62.95%.
Johnson & Johnson declared that its Board of Directors has authorized a stock buyback plan on Wednesday, September 14th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 1.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.
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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