Twin Capital Management Inc. cut its stake in Johnson & Johnson (NYSE:JNJ – Free Report) by 19.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,264 shares of the company’s stock after selling 16,802 shares during the period. Johnson & Johnson makes up approximately 1.4% of Twin Capital Management Inc.’s holdings, making the stock its 9th biggest position. Twin Capital Management Inc.’s holdings in Johnson & Johnson were worth $10,581,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of JNJ. DORCHESTER WEALTH MANAGEMENT Co boosted its holdings in Johnson & Johnson by 8.6% in the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 67,618 shares of the company’s stock valued at $14,975,000 after purchasing an additional 5,327 shares during the period. Cantor Fitzgerald Investment Advisor L.P raised its stake in shares of Johnson & Johnson by 88.9% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 175,194 shares of the company’s stock valued at $31,049,000 after buying an additional 82,429 shares in the last quarter. AMI Investment Management Inc. raised its stake in shares of Johnson & Johnson by 8.8% in the 1st quarter. AMI Investment Management Inc. now owns 18,305 shares of the company’s stock valued at $3,244,000 after buying an additional 1,475 shares in the last quarter. Equitable Holdings Inc. raised its stake in shares of Johnson & Johnson by 4.9% in the 1st quarter. Equitable Holdings Inc. now owns 45,673 shares of the company’s stock valued at $8,095,000 after buying an additional 2,119 shares in the last quarter. Finally, USS Investment Management Ltd raised its stake in shares of Johnson & Johnson by 2.4% in the 1st quarter. USS Investment Management Ltd now owns 860,371 shares of the company’s stock valued at $152,488,000 after buying an additional 20,528 shares in the last quarter. 67.57% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on JNJ. Credit Suisse Group increased their price objective on shares of Johnson & Johnson from $170.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, July 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Monday, July 31st. Morgan Stanley reiterated an “equal weight” rating and set a $187.00 target price on shares of Johnson & Johnson in a research report on Friday, July 21st. StockNews.com began coverage on shares of Johnson & Johnson in a research report on Thursday, May 18th. They set a “strong-buy” rating for the company. Finally, Citigroup began coverage on shares of Johnson & Johnson in a research report on Tuesday, May 30th. They set a “buy” rating and a $185.00 target price for the company. Eight research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $171.80.
Johnson & Johnson Stock Down 0.3 %
Shares of NYSE JNJ opened at $172.92 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 0.44. Johnson & Johnson has a 1 year low of $150.11 and a 1 year high of $181.04. The firm has a market capitalization of $449.41 billion, a PE ratio of 35.00, a price-to-earnings-growth ratio of 2.92 and a beta of 0.54. The firm’s 50-day moving average is $165.50 and its 200-day moving average is $161.20.
Johnson & Johnson (NYSE:JNJ – Get Free Report) last issued its earnings results on Thursday, July 20th. The company reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.18. The business had revenue of $25.53 billion for the quarter, compared to the consensus estimate of $24.63 billion. Johnson & Johnson had a net margin of 13.35% and a return on equity of 36.72%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.59 earnings per share. Equities analysts expect that Johnson & Johnson will post 10.75 EPS for the current year.
Johnson & Johnson Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Monday, August 28th will be issued a dividend of $1.19 per share. The ex-dividend date is Friday, August 25th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.75%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 96.36%.
Insiders Place Their Bets
In related news, 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 transaction of $1,994,400.00. Following the completion of the transaction, the executive vice president now directly owns 65,934 shares in the company, valued at approximately $10,549,440. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Kathryn E. Wengel sold 12,465 shares of the business’s stock in a transaction on 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 owns 65,934 shares in the company, valued at approximately $10,549,440. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Peter Fasolo sold 20,000 shares of the stock in a transaction dated 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 owns 102,696 shares of the company’s stock, valued at $17,491,182.72. 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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