C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors reduced its stake in Johnson & Johnson (NYSE:JNJ – Free Report) by 12.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,354 shares of the company’s stock after selling 640 shares during the quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Johnson & Johnson were worth $721,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of JNJ. Peak Asset Management LLC increased its stake in Johnson & Johnson by 9.3% in the 1st quarter. Peak Asset Management LLC now owns 13,789 shares of the company’s stock worth $2,137,000 after buying an additional 1,171 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Johnson & Johnson by 0.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 748,842 shares of the company’s stock worth $116,071,000 after buying an additional 6,836 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in Johnson & Johnson by 21.8% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 903,546 shares of the company’s stock worth $140,050,000 after buying an additional 161,687 shares in the last quarter. Tekla Capital Management LLC increased its stake in Johnson & Johnson by 12.8% in the 1st quarter. Tekla Capital Management LLC now owns 721,779 shares of the company’s stock worth $111,876,000 after buying an additional 82,100 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC increased its stake in Johnson & Johnson by 0.7% in the 2nd quarter. Franklin Street Advisors Inc. NC now owns 80,179 shares of the company’s stock worth $13,271,000 after buying an additional 562 shares in the last quarter. 68.40% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other Johnson & Johnson news, insider William Hait sold 14,698 shares of the stock in a transaction 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 sale, the insider now owns 87,747 shares in the company, valued at $15,092,484. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider William Hait sold 14,698 shares of the stock in a transaction 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 filing with the Securities & Exchange Commission, which is available through this link. Also, VP Peter Fasolo sold 20,000 shares of the stock in a transaction 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 transaction, 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 own 0.20% of the company’s stock.
Johnson & Johnson Trading Up 0.6 %
Johnson & Johnson (NYSE:JNJ – Get Free Report) last released 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. 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 for the quarter, compared to analyst estimates of $24.63 billion. During the same quarter last year, the firm posted $2.59 earnings per share. The business’s revenue was up 6.3% compared to the same quarter last year. On average, sell-side analysts expect that Johnson & Johnson will post 10.02 earnings per share for the current year.
Johnson & Johnson Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Shareholders of record on Monday, August 28th were paid a $1.19 dividend. The ex-dividend date of this dividend was Friday, August 25th. This represents a $4.76 dividend on an annualized basis and a yield of 3.00%. Johnson & Johnson’s payout ratio is 96.36%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the company. Wells Fargo & Company cut their price target on Johnson & Johnson from $195.00 to $186.00 and set an “overweight” rating for the company in a research note on Thursday, August 31st. Stifel Nicolaus raised their price objective on Johnson & Johnson from $165.00 to $175.00 in a research report on Friday, July 21st. Raymond James cut their price objective on Johnson & Johnson from $184.00 to $179.00 and set an “outperform” rating for the company in a research report on Tuesday, September 5th. HSBC began coverage on Johnson & Johnson in a research report on Wednesday, September 6th. They set a “hold” rating and a $175.00 price objective for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Monday. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average price target of $171.06.
View Our Latest Research Report on JNJ
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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