Laurel Grove Capital LLC boosted its stake in Johnson & Johnson (NYSE:JNJ) by 25.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,369 shares of the company’s stock after buying an additional 4,600 shares during the quarter. Johnson & Johnson makes up about 1.4% of Laurel Grove Capital LLC’s investment portfolio, making the stock its 25th largest position. Laurel Grove Capital LLC’s holdings in Johnson & Johnson were worth $2,714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Johnson & Johnson by 4.7% in the 1st quarter. BlackRock Inc. now owns 175,389,024 shares of the company’s stock valued at $22,476,102,000 after buying an additional 7,853,141 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Johnson & Johnson by 2.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 29,761,934 shares of the company’s stock valued at $3,813,993,000 after buying an additional 590,069 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Johnson & Johnson by 3.8% in the 2nd quarter. Fisher Asset Management LLC now owns 13,118,604 shares of the company’s stock valued at $1,591,811,000 after buying an additional 478,982 shares in the last quarter. Boston Partners boosted its stake in Johnson & Johnson by 68.7% in the 1st quarter. Boston Partners now owns 12,783,909 shares of the company’s stock valued at $1,638,258,000 after buying an additional 5,207,124 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Johnson & Johnson by 4.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,590,694 shares of the company’s stock valued at $1,100,897,000 after buying an additional 383,040 shares in the last quarter. 66.62% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently commented on the company. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $160.00 price target on shares of Johnson & Johnson in a research note on Friday, September 14th. Jefferies Financial Group set a $145.00 price objective on Johnson & Johnson and gave the stock a “buy” rating in a research note on Sunday, July 15th. Credit Suisse Group set a $151.00 price objective on Johnson & Johnson and gave the stock a “buy” rating in a research note on Tuesday, June 12th. Sanford C. Bernstein initiated coverage on Johnson & Johnson in a research note on Wednesday, June 27th. They issued a “market perform” rating and a $129.00 price objective on the stock. Finally, ValuEngine raised Johnson & Johnson from a “sell” rating to a “hold” rating in a research note on Saturday, July 28th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company’s stock. Johnson & Johnson currently has an average rating of “Hold” and a consensus target price of $142.87.
In other news, CAO Ronald A. Kapusta sold 7,899 shares of the business’s stock in a transaction on Friday, September 7th. The stock was sold at an average price of $137.18, for a total transaction of $1,083,584.82. Following the completion of the sale, the chief accounting officer now owns 25,725 shares in the company, valued at $3,528,955.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Michael E. Sneed sold 29,000 shares of the business’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $134.80, for a total value of $3,909,200.00. Following the sale, the chief operating officer now owns 59,124 shares of the company’s stock, valued at approximately $7,969,915.20. The disclosure for this sale can be found here. Insiders own 0.22% of the company’s stock.
Johnson & Johnson stock opened at $138.16 on Thursday. The company has a current ratio of 1.65, a quick ratio of 1.33 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $376.87 billion, a price-to-earnings ratio of 18.93, a price-to-earnings-growth ratio of 2.23 and a beta of 0.69. Johnson & Johnson has a 52 week low of $118.62 and a 52 week high of $148.32.
Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, July 17th. The company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.04. The company had revenue of $20.83 billion for the quarter, compared to analyst estimates of $20.39 billion. Johnson & Johnson had a return on equity of 32.79% and a net margin of 1.70%. The business’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.83 earnings per share. research analysts anticipate that Johnson & Johnson will post 8.14 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 11th. Stockholders of record on Tuesday, August 28th were given a dividend of $0.90 per share. The ex-dividend date was Monday, August 27th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.61%. Johnson & Johnson’s payout ratio is currently 49.32%.
Johnson & Johnson Profile
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. Its Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, RoC, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.
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