Hayek Kallen Investment Management reduced its position in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 2.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,742 shares of the company’s stock after selling 715 shares during the period. Johnson & Johnson comprises about 2.4% of Hayek Kallen Investment Management’s investment portfolio, making the stock its 10th biggest position. Hayek Kallen Investment Management’s holdings in Johnson & Johnson were worth $5,385,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. GW&K Investment Management LLC acquired a new stake in Johnson & Johnson in the 4th quarter valued at about $35,000. Dark Forest Capital Management LP increased its position in Johnson & Johnson by 1,044.4% in the 4th 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 in the last quarter. Ruedi Wealth Management Inc. acquired a new stake in Johnson & Johnson in the 4th quarter valued at about $42,000. Kepos Capital LP acquired a new stake in shares of Johnson & Johnson during the 4th quarter worth approximately $45,000. Finally, VitalStone Financial LLC acquired a new stake in shares of Johnson & Johnson during the 4th quarter worth approximately $52,000. 67.57% of the stock is owned by institutional investors.
Insider Buying and Selling at Johnson & Johnson
In related news, VP Peter Fasolo sold 20,000 shares of the company’s 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 transaction, the vice president now directly owns 102,696 shares in the company, valued at $17,491,182.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Peter Fasolo sold 20,000 shares of the company’s 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 transaction, the vice president now directly owns 102,696 shares in the company, valued at $17,491,182.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kathryn E. Wengel sold 12,465 shares of the company’s stock in a transaction dated 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 owns 65,934 shares in the company, valued at $10,549,440. The disclosure for this sale can be found here. Insiders have sold a total of 47,163 shares of company stock worth $7,928,856 over the last ninety days. Insiders own 0.20% of the company’s stock.
Johnson & Johnson Stock Performance
Johnson & Johnson (NYSE:JNJ – Get Free Report) last announced its quarterly earnings data on Thursday, July 20th. The company reported $2.80 EPS 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 analyst estimates 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 quarter in the previous year, the firm posted $2.59 earnings per share. Equities research analysts expect that Johnson & Johnson will post 10.75 EPS for the current fiscal year.
Johnson & Johnson Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Monday, August 28th will be issued a $1.19 dividend. The ex-dividend date of this dividend is Friday, August 25th. This represents a $4.76 annualized dividend and a dividend yield of 2.75%. Johnson & Johnson’s dividend payout ratio is currently 96.36%.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on JNJ. Raymond James lifted their price target on shares of Johnson & Johnson from $181.00 to $184.00 and gave the stock an “outperform” rating in a research report on Monday, July 24th. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research report on Monday, July 31st. 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 price target for the company. TheStreet cut shares of Johnson & Johnson from a “b” rating to a “c+” rating in a research report on Friday, May 19th. Finally, Stifel Nicolaus boosted their price objective on shares of Johnson & Johnson from $165.00 to $175.00 in a report on Friday, July 21st. 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.com, the company has a consensus rating of “Hold” and a consensus target price of $171.80.
Read Our Latest Stock Report on JNJ
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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