Forza Wealth Management LLC grew its holdings in Johnson & Johnson (NYSE:JNJ – Free Report) by 6.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,602 shares of the company’s stock after purchasing an additional 567 shares during the period. Forza Wealth Management LLC’s holdings in Johnson & Johnson were worth $1,488,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in JNJ. GW&K Investment Management LLC acquired a new position in Johnson & Johnson during the fourth quarter worth $35,000. Dark Forest Capital Management LP increased its holdings in Johnson & Johnson by 1,044.4% during the fourth quarter. Dark Forest Capital Management LP now owns 206 shares of the company’s stock worth $36,000 after buying an additional 188 shares during the last quarter. Ruedi Wealth Management Inc. acquired a new position in shares of Johnson & Johnson in the fourth quarter valued at $42,000. Kepos Capital LP acquired a new position in shares of Johnson & Johnson in the fourth quarter valued at $45,000. Finally, VitalStone Financial LLC acquired a new position in shares of Johnson & Johnson in the fourth quarter valued at $52,000. 67.57% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms have commented on JNJ. Citigroup began coverage on shares of Johnson & Johnson in a report on Tuesday, May 30th. They issued a “buy” rating and a $185.00 price objective on the stock. Atlantic Securities upped their price objective on shares of Johnson & Johnson from $167.00 to $170.00 and gave the company a “neutral” rating in a report on Friday. TheStreet downgraded shares of Johnson & Johnson from a “b” rating to a “c+” rating in a report on Friday, May 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research report on Monday, July 31st. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $187.00 target price on shares of Johnson & Johnson in a research report on Friday, July 21st. Eight analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $171.80.
Johnson & Johnson Stock Down 0.9 %
Johnson & Johnson (NYSE:JNJ – Get Free Report) last issued its earnings results on Thursday, July 20th. The company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.62 by $0.18. The firm had revenue of $25.53 billion during the quarter, compared to the consensus estimate of $24.63 billion. Johnson & Johnson had a return on equity of 37.01% and a net margin of 13.35%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.59 earnings per share. As a group, analysts forecast that Johnson & Johnson will post 10.76 earnings per share for the current fiscal year.
Johnson & Johnson Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Monday, August 28th will be paid a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a yield of 2.82%. The ex-dividend date is Friday, August 25th. Johnson & Johnson’s payout ratio is 96.36%.
Insiders Place Their Bets
In other news, EVP Kathryn E. Wengel sold 12,465 shares of the company’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 completion of the transaction, the executive vice president now owns 65,934 shares of the company’s stock, valued at $10,549,440. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Peter Fasolo sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $170.32, for a total value of $3,406,400.00. Following the completion of the transaction, the vice president now owns 102,696 shares of the company’s stock, valued at $17,491,182.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kathryn E. Wengel sold 12,465 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $160.00, for a total value of $1,994,400.00. Following the completion of the transaction, the executive vice president now directly owns 65,934 shares of the company’s stock, valued at approximately $10,549,440. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,163 shares of company stock valued at $7,928,856. 0.20% of the stock is currently owned by corporate insiders.
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.
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