Stoneridge Investment Partners LLC cut its stake in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 48.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 22,418 shares of the company’s stock after selling 20,750 shares during the quarter. Johnson & Johnson accounts for about 2.2% of Stoneridge Investment Partners LLC’s portfolio, making the stock its 13th largest position. Stoneridge Investment Partners LLC’s holdings in Johnson & Johnson were worth $3,979,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Johnson & Johnson by 1.4% in the first quarter. Vanguard Group Inc. now owns 238,141,110 shares of the company’s stock worth $42,205,749,000 after purchasing an additional 3,358,478 shares during the last quarter. BlackRock Inc. grew its stake in shares of Johnson & Johnson by 0.4% in the first quarter. BlackRock Inc. now owns 200,799,189 shares of the company’s stock worth $35,587,638,000 after purchasing an additional 777,837 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Johnson & Johnson by 0.8% in the first quarter. Wellington Management Group LLP now owns 32,772,594 shares of the company’s stock worth $5,808,286,000 after purchasing an additional 265,330 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Johnson & Johnson by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 32,070,396 shares of the company’s stock worth $5,683,837,000 after purchasing an additional 509,818 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Johnson & Johnson by 1.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 17,189,229 shares of the company’s stock worth $3,046,449,000 after purchasing an additional 328,297 shares during the last quarter. 68.59% of the stock is currently owned by institutional investors and hedge funds.
Johnson & Johnson Price Performance
JNJ stock opened at $172.21 on Thursday. The stock has a market capitalization of $452.77 billion, a PE ratio of 23.98, a price-to-earnings-growth ratio of 3.58 and a beta of 0.56. The company’s 50-day moving average is $165.12 and its 200-day moving average is $172.36. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.42 and a quick ratio of 1.17. Johnson & Johnson has a 1 year low of $155.72 and a 1 year high of $186.69.
Johnson & Johnson (NYSE:JNJ – Get Rating) last released its quarterly earnings data on Tuesday, October 18th. The company reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. Johnson & Johnson had a net margin of 19.95% and a return on equity of 35.32%. The company had revenue of $23.79 billion for the quarter, compared to analysts’ expectations of $23.44 billion. During the same quarter in the prior year, the firm earned $2.60 EPS. The business’s revenue was up 1.9% on a year-over-year basis. Equities research analysts expect that Johnson & Johnson will post 10.05 EPS for the current fiscal year.
Johnson & Johnson Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Tuesday, November 22nd will be issued a $1.13 dividend. The ex-dividend date of this dividend is Monday, November 21st. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.62%. Johnson & Johnson’s dividend payout ratio is presently 62.95%.
Johnson & Johnson announced that its board has approved a stock buyback plan on Wednesday, September 14th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to reacquire up to 1.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
Analysts Set New Price Targets
Several brokerages recently weighed in on JNJ. SVB Leerink reduced their price objective on shares of Johnson & Johnson from $200.00 to $194.00 in a research note on Wednesday, July 20th. Raymond James cut their price target on shares of Johnson & Johnson from $192.00 to $185.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 19th. Atlantic Securities cut their price target on shares of Johnson & Johnson from $165.00 to $160.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 19th. StockNews.com initiated coverage on shares of Johnson & Johnson in a research report on Wednesday, October 12th. They set a “strong-buy” rating on the stock. Finally, Sanford C. Bernstein cut their price target on shares of Johnson & Johnson from $194.00 to $190.00 in a research report on Wednesday, October 19th. Six 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 data from MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average price target of $184.25.
Insider Buying and Selling
In related news, VP Peter Fasolo sold 29,275 shares of the company’s stock in a transaction dated Monday, October 24th. The shares were sold at an average price of $171.36, for a total value of $5,016,564.00. Following the sale, the vice president now owns 114,676 shares in the company, valued at approximately $19,650,879.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Peter Fasolo sold 29,275 shares of the company’s stock in a transaction dated Monday, October 24th. The shares were sold at an average price of $171.36, for a total value of $5,016,564.00. Following the sale, the vice president now owns 114,676 shares in the company, valued at approximately $19,650,879.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William Hait sold 15,000 shares of the company’s stock in a transaction dated Monday, October 24th. The stock was sold at an average price of $171.55, for a total transaction of $2,573,250.00. Following the completion of the sale, the insider now owns 80,236 shares in the company, valued at approximately $13,764,485.80. The disclosure for this sale can be found here. Insiders have sold 67,139 shares of company stock worth $11,350,942 in the last quarter. Insiders own 0.35% of the company’s stock.
Johnson & Johnson Company Profile
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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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