SP Asset Management LLC reduced its position in Johnson & Johnson (NYSE:JNJ – Free Report) by 2.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 90,561 shares of the company’s stock after selling 2,201 shares during the quarter. Johnson & Johnson makes up about 1.7% of SP Asset Management LLC’s investment portfolio, making the stock its 19th biggest holding. SP Asset Management LLC’s holdings in Johnson & Johnson were worth $14,037,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GW&K Investment Management LLC acquired a new position in Johnson & Johnson in the fourth quarter valued at approximately $35,000. Dark Forest Capital Management LP boosted its stake in Johnson & Johnson by 1,044.4% in the fourth quarter. Dark Forest Capital Management LP now owns 206 shares of the company’s stock valued at $36,000 after acquiring an additional 188 shares during the period. Ruedi Wealth Management Inc. acquired a new position in Johnson & Johnson in the fourth quarter valued at approximately $42,000. Kepos Capital LP acquired a new position in Johnson & Johnson in the fourth quarter valued at approximately $45,000. Finally, VitalStone Financial LLC acquired a new position in Johnson & Johnson in the fourth quarter valued at approximately $52,000. 67.57% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
JNJ has been the subject of a number of research reports. Barclays lifted their target price on Johnson & Johnson from $171.00 to $175.00 and gave the company an “equal weight” rating in a research note on Monday, July 24th. JPMorgan Chase & Co. boosted their price objective on Johnson & Johnson from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, July 21st. Credit Suisse Group raised their target price on Johnson & Johnson from $170.00 to $175.00 and gave the company a “neutral” rating in a research report on Friday, July 21st. Atlantic Securities increased their price target on Johnson & Johnson from $167.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, August 4th. Finally, Citigroup assumed coverage on Johnson & Johnson in a report on Tuesday, May 30th. They set a “buy” rating and a $185.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $171.80.
Johnson & Johnson Trading Up 1.0 %
Shares of JNJ stock opened at $173.85 on Friday. The stock has a 50-day simple moving average of $164.56 and a 200 day simple moving average of $161.21. Johnson & Johnson has a fifty-two week low of $150.11 and a fifty-two week high of $181.04. The stock has a market capitalization of $451.83 billion, a P/E ratio of 35.19, a P/E/G ratio of 2.90 and a beta of 0.54. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 0.44.
Johnson & Johnson (NYSE:JNJ – Get Free Report) last released its quarterly earnings results on Thursday, July 20th. The company reported $2.80 earnings per share for the quarter, beating 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 business had revenue of $25.53 billion during the quarter, compared to analyst estimates of $24.63 billion. During the same quarter last year, the company posted $2.59 EPS. Johnson & Johnson’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, sell-side analysts expect that Johnson & Johnson will post 10.75 earnings per share for the current fiscal year.
Johnson & Johnson Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Monday, August 28th will be given a $1.19 dividend. The ex-dividend date of this dividend is Friday, August 25th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.74%. Johnson & Johnson’s dividend payout ratio (DPR) is 96.36%.
Insider Activity at Johnson & Johnson
In related news, insider William Hait sold 14,698 shares of the stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $172.00, for a total value of $2,528,056.00. Following the completion of the sale, the insider now directly owns 87,747 shares of the company’s stock, valued at approximately $15,092,484. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider William Hait sold 14,698 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $172.00, for a total value of $2,528,056.00. Following the transaction, the insider now directly owns 87,747 shares of the company’s stock, valued at approximately $15,092,484. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Peter Fasolo sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The shares were 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 directly owns 102,696 shares in the company, valued at $17,491,182.72. The disclosure for this sale can be found here. Insiders sold 47,163 shares of company stock worth $7,928,856 in the last quarter. 0.20% of the stock is owned by company insiders.
Johnson & Johnson Company 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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