Wendell David Associates Inc. raised its holdings in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 0.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,912 shares of the company’s stock after purchasing an additional 650 shares during the quarter. Johnson & Johnson makes up 2.0% of Wendell David Associates Inc.’s holdings, making the stock its 13th biggest position. Wendell David Associates Inc.’s holdings in Johnson & Johnson were worth $16,881,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Scotia Capital Inc. lifted 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 valued at $195,247,000 after purchasing an additional 17,440 shares during the last quarter. Duality Advisers LP acquired a new stake in Johnson & Johnson during the 4th quarter valued at $4,342,000. Beacon Harbor Wealth Advisors Inc. acquired a new stake in Johnson & Johnson during the 4th quarter valued at $509,000. Modera Wealth Management LLC increased its position 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 buying an additional 6,738 shares during the period. Finally, Bell & Brown Wealth Advisors LLC increased its position in Johnson & Johnson by 2.4% during the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 2,926 shares of the company’s stock worth $453,000 after buying an additional 69 shares during the period. Institutional investors and hedge funds own 67.57% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the company. Citigroup assumed coverage on Johnson & Johnson in a research report on Tuesday, May 30th. They set a “buy” rating and a $185.00 price objective on the stock. Raymond James lowered their price objective on Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 19th. TheStreet cut Johnson & Johnson from a “b” rating to a “c+” rating in a research report on Friday, May 19th. Atlantic Securities lowered their price objective on Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 19th. Finally, Credit Suisse Group raised their price target on Johnson & Johnson from $168.00 to $170.00 in a research report on Friday, May 5th. Seven research 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 company. Based on data from MarketBeat, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus price target of $171.57.
Johnson & Johnson Stock Performance
Johnson & Johnson (NYSE:JNJ – Free Report) last released its earnings results on Tuesday, April 18th. The company reported $2.68 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $23.61 billion. During the same quarter in the previous year, the business posted $2.67 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, analysts expect 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. Shareholders of record on Tuesday, May 23rd were given a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date was Monday, May 22nd. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.13. Johnson & Johnson’s payout ratio is currently 99.58%.
Insider Activity
In other news, EVP Kathryn E. Wengel sold 12,465 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $160.00, for a total transaction of $1,994,400.00. Following the sale, the executive vice president now directly owns 65,934 shares in the company, valued at $10,549,440. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.
Johnson & Johnson Profile
Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment provides skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR. CI:LABO, NEUTROGENA, and OGX brands; baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; TYLENOL acetaminophen products; SUDAFED cold, flu, and allergy products; BENADRYL and ZYRTEC allergy products; MOTRIN IB ibuprofen products; NICORETTE smoking cessation products; and PEPCID acid reflux products.
Read More
- Five stocks we like better than Johnson & Johnson
- Order From U.S. Army Fuels Surge In Enovix Stock
- The Bottom Is In For Mullen Automotive
- Could Meta Be Risking Another Sell Off With Its New “Threads”?
- 2 Must-Have Specialized ETFs for the Long-Term Investor
- Inspire Medical Up 15% After Breakout, Analysts Say It’s A Buy
Receive News & Ratings for Johnson & Johnson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Johnson & Johnson and related companies with MarketBeat.com's FREE daily email newsletter.
