Berger Financial Group Inc trimmed its stake in Johnson & Johnson (NYSE:JNJ – Free Report) by 1.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,871 shares of the company’s stock after selling 247 shares during the quarter. Berger Financial Group Inc’s holdings in Johnson & Johnson were worth $2,296,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Atlantic Private Wealth LLC purchased a new stake in Johnson & Johnson during the first quarter valued at $32,000. 25 LLC purchased a new stake in Johnson & Johnson in the first quarter worth about $55,000. Horizons Wealth Management boosted its stake in shares of Johnson & Johnson by 1,730.0% in the second quarter. Horizons Wealth Management now owns 366 shares of the company’s stock worth $61,000 after acquiring an additional 346 shares during the period. Bay Harbor Wealth Management LLC bought a new position in shares of Johnson & Johnson in the second quarter worth about $66,000. Finally, Mcmillion Capital Management Inc. bought a new position in shares of Johnson & Johnson in the second quarter worth about $103,000. 68.40% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on JNJ shares. Raymond James dropped their price target on Johnson & Johnson from $179.00 to $172.00 and set an “outperform” rating for the company in a research note on Wednesday, October 18th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Friday. Barclays increased their price target on Johnson & Johnson from $158.00 to $162.00 and gave the stock an “equal weight” rating in a report on Thursday, October 12th. HSBC initiated coverage on Johnson & Johnson in a report on Wednesday, September 6th. They set a “hold” rating and a $175.00 price objective on the stock. Finally, Wells Fargo & Company dropped their target price on Johnson & Johnson from $195.00 to $186.00 and set an “overweight” rating on the stock in a research report on Thursday, August 31st. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $169.19.
Johnson & Johnson Stock Performance
Shares of JNJ stock opened at $149.91 on Tuesday. The stock has a market cap of $360.88 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 3.00 and a beta of 0.58. The business has a 50-day simple moving average of $154.52 and a 200-day simple moving average of $160.29. The company has a quick ratio of 0.96, a current ratio of 1.21 and a debt-to-equity ratio of 0.37. Johnson & Johnson has a 52-week low of $144.95 and a 52-week high of $181.04.
Johnson & Johnson (NYSE:JNJ – Get Free Report) last issued its quarterly earnings data on Tuesday, October 17th. The company reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.14. The business had revenue of $21.35 billion during the quarter, compared to analysts’ expectations of $21 billion. Johnson & Johnson had a return on equity of 37.14% and a net margin of 36.32%. On average, equities analysts expect that Johnson & Johnson will post 10.1 EPS for the current year.
Johnson & Johnson Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Tuesday, November 21st will be issued a $1.19 dividend. The ex-dividend date of this dividend is Monday, November 20th. This represents a $4.76 dividend on an annualized basis and a yield of 3.18%. Johnson & Johnson’s payout ratio is 35.34%.
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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