Wesleyan Assurance Society boosted its position in Johnson & Johnson (NYSE:JNJ – Free Report) by 1.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 100,979 shares of the company’s stock after purchasing an additional 1,500 shares during the quarter. Johnson & Johnson comprises approximately 1.8% of Wesleyan Assurance Society’s investment portfolio, making the stock its 13th largest position. Wesleyan Assurance Society’s holdings in Johnson & Johnson were worth $15,645,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Arbor Investment Advisors LLC grew its holdings in Johnson & Johnson by 2.3% during the fourth quarter. Arbor Investment Advisors LLC now owns 2,697 shares of the company’s stock worth $476,000 after acquiring an additional 61 shares during the period. Sierra Capital LLC grew its holdings in Johnson & Johnson by 0.6% during the fourth quarter. Sierra Capital LLC now owns 10,036 shares of the company’s stock worth $1,773,000 after acquiring an additional 61 shares during the period. MTM Investment Management LLC grew its holdings in Johnson & Johnson by 0.5% during the first quarter. MTM Investment Management LLC now owns 11,283 shares of the company’s stock worth $1,749,000 after acquiring an additional 61 shares during the period. Lockerman Financial Group Inc. grew its holdings in Johnson & Johnson by 2.4% during the fourth quarter. Lockerman Financial Group Inc. now owns 2,684 shares of the company’s stock worth $474,000 after acquiring an additional 62 shares during the period. Finally, OneAscent Financial Services LLC grew its holdings in Johnson & Johnson by 3.3% during the first quarter. OneAscent Financial Services LLC now owns 1,986 shares of the company’s stock worth $308,000 after acquiring an additional 63 shares during the period. 67.57% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts have weighed in on the company. Credit Suisse Group upped their target price on Johnson & Johnson from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, July 21st. Stifel Nicolaus upped their target price on Johnson & Johnson from $165.00 to $175.00 in a report on Friday, July 21st. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Monday, July 31st. Barclays upped their target price on Johnson & Johnson from $171.00 to $175.00 and gave the company an “equal weight” rating in a report on Monday, July 24th. Finally, Citigroup initiated coverage on Johnson & Johnson in a report on Tuesday, May 30th. They issued a “buy” rating and a $185.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $171.80.
Insiders Place Their Bets
In other Johnson & Johnson news, insider William Hait sold 14,698 shares of the stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $172.00, for a total transaction of $2,528,056.00. Following the transaction, the insider now owns 87,747 shares of the company’s stock, valued at approximately $15,092,484. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Johnson & Johnson news, insider William Hait sold 14,698 shares of the stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $172.00, for a total transaction of $2,528,056.00. Following the transaction, the insider now owns 87,747 shares of the company’s stock, valued at approximately $15,092,484. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Peter Fasolo sold 20,000 shares of the firm’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 sale, the vice president now directly owns 102,696 shares in the company, valued at approximately $17,491,182.72. The disclosure for this sale can be found here. Insiders have sold a total of 47,163 shares of company stock valued at $7,928,856 in the last quarter. Insiders own 0.20% of the company’s stock.
Johnson & Johnson Price Performance
Shares of NYSE JNJ opened at $172.18 on Friday. Johnson & Johnson has a fifty-two week low of $150.11 and a fifty-two week high of $181.04. The business has a 50 day moving average price of $164.21 and a two-hundred day moving average price of $161.13. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 0.44. The firm has a market cap of $447.48 billion, a PE ratio of 34.85, a price-to-earnings-growth ratio of 2.90 and a beta of 0.54.
Johnson & Johnson (NYSE:JNJ – Get Free Report) last released its earnings results on Thursday, July 20th. The company reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.18. Johnson & Johnson had a return on equity of 36.72% and a net margin of 13.35%. The company had revenue of $25.53 billion for the quarter, compared to the consensus estimate of $24.63 billion. During the same quarter last year, the business posted $2.59 EPS. Johnson & Johnson’s quarterly revenue was up 6.3% compared to the same quarter last year. Sell-side analysts expect that Johnson & Johnson will post 10.75 earnings per share for the current fiscal year.
Johnson & Johnson Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Monday, August 28th will be issued a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Friday, August 25th. Johnson & Johnson’s dividend payout ratio is presently 96.36%.
About Johnson & Johnson
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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