Buckingham Capital Management Inc. raised its stake in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 20.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,267 shares of the company’s stock after purchasing an additional 1,573 shares during the period. Buckingham Capital Management Inc.’s holdings in Johnson & Johnson were worth $1,436,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of JNJ. Scotia Capital Inc. grew its holdings in Johnson & Johnson by 1.6% during the 4th quarter. Scotia Capital Inc. now owns 1,105,147 shares of the company’s stock worth $195,247,000 after acquiring an additional 17,440 shares during the period. Duality Advisers LP acquired a new stake in Johnson & Johnson during the 4th quarter worth about $4,342,000. Beacon Harbor Wealth Advisors Inc. acquired a new stake in Johnson & Johnson during the 4th quarter worth about $509,000. Modera Wealth Management LLC grew its holdings in Johnson & Johnson by 18.0% during the 4th quarter. Modera Wealth Management LLC now owns 44,189 shares of the company’s stock worth $7,806,000 after acquiring an additional 6,738 shares during the period. Finally, Willis Investment Counsel grew its holdings in Johnson & Johnson by 0.4% during the 4th quarter. Willis Investment Counsel now owns 328,884 shares of the company’s stock worth $58,097,000 after acquiring an additional 1,358 shares during the period. 67.57% of the stock is owned by institutional investors.
Insider Transactions at Johnson & Johnson
In other news, EVP Kathryn E. Wengel sold 12,465 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $160.00, for a total value of $1,994,400.00. Following the transaction, the executive vice president now owns 65,934 shares in the company, valued at approximately $10,549,440. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.20% of the company’s stock.
Johnson & Johnson Stock Performance
Johnson & Johnson (NYSE:JNJ – Get Rating) last announced its earnings results on Tuesday, April 18th. The company reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.51 by $0.17. Johnson & Johnson had a return on equity of 36.13% and a net margin of 13.22%. The firm had revenue of $24.75 billion for the quarter, compared to the consensus estimate of $23.61 billion. During the same quarter in the previous year, the business earned $2.67 EPS. The company’s revenue was up 5.6% compared to the same quarter last year. Equities analysts forecast that Johnson & Johnson will post 10.66 earnings per share for the current fiscal year.
Johnson & Johnson Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 6th. Stockholders of record on Tuesday, May 23rd were paid a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend was Monday, May 22nd. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.13. Johnson & Johnson’s payout ratio is presently 99.58%.
Analyst Ratings Changes
A number of analysts have weighed in on JNJ shares. Raymond James decreased their price target on Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating for the company in a report on Wednesday, April 19th. Citigroup initiated coverage on Johnson & Johnson in a research note on Tuesday, May 30th. They issued a “buy” rating and a $185.00 target price for the company. Atlantic Securities reduced their target price on Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating for the company in a research note on Wednesday, April 19th. Guggenheim initiated coverage on Johnson & Johnson in a research note on Tuesday, February 28th. They issued a “neutral” rating and a $161.00 target price for the company. Finally, UBS Group initiated coverage on Johnson & Johnson in a research note on Tuesday, March 28th. They issued a “neutral” rating and a $164.00 target price for the company. Seven investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $171.57.
About Johnson & Johnson
Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer Health, Pharmaceutical, and MedTech. The Consumer Health segment includes products focused on personal healthcare used in the Skin Health/Beauty, Over-the-Counter medicines, Baby Care, Oral Care, Women’s Health and Wound Care markets.
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