GraniteShares Advisors LLC lessened its holdings in Johnson & Johnson (NYSE:JNJ – Free Report) by 5.5% during the second quarter, HoldingsChannel.com reports. The fund owned 7,444 shares of the company’s stock after selling 430 shares during the period. GraniteShares Advisors LLC’s holdings in Johnson & Johnson were worth $1,232,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. DORCHESTER WEALTH MANAGEMENT Co grew its holdings in shares of Johnson & Johnson by 8.6% during the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 67,618 shares of the company’s stock worth $14,975,000 after purchasing an additional 5,327 shares during the last quarter. Cantor Fitzgerald Investment Advisor L.P grew its holdings in shares of Johnson & Johnson by 88.9% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 175,194 shares of the company’s stock worth $31,049,000 after purchasing an additional 82,429 shares during the last quarter. AMI Investment Management Inc. lifted its stake in shares of Johnson & Johnson by 8.8% in the first quarter. AMI Investment Management Inc. now owns 18,305 shares of the company’s stock worth $3,244,000 after acquiring an additional 1,475 shares during the period. Equitable Holdings Inc. lifted its stake in shares of Johnson & Johnson by 4.9% in the first quarter. Equitable Holdings Inc. now owns 45,673 shares of the company’s stock worth $8,095,000 after acquiring an additional 2,119 shares during the period. Finally, USS Investment Management Ltd lifted its stake in shares of Johnson & Johnson by 2.4% in the first quarter. USS Investment Management Ltd now owns 860,371 shares of the company’s stock worth $152,488,000 after acquiring an additional 20,528 shares during the period. Institutional investors own 68.40% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts recently commented on JNJ shares. Atlantic Securities lifted their price objective on Johnson & Johnson from $167.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, August 4th. Barclays lifted their price objective on Johnson & Johnson from $158.00 to $162.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 12th. TheStreet lowered Johnson & Johnson from a “b” rating to a “c+” rating in a research note on Friday. Royal Bank of Canada initiated coverage on Johnson & Johnson in a research note on Wednesday, October 4th. They issued an “outperform” rating and a $178.00 price objective on the stock. Finally, HSBC initiated coverage on Johnson & Johnson in a research note on Wednesday, September 6th. They issued a “hold” rating and a $175.00 price target on the stock. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus target price of $169.19.
Johnson & Johnson Price Performance
Shares of NYSE:JNJ opened at $149.91 on Tuesday. The stock’s 50 day moving average is $154.52 and its 200-day moving average is $160.29. Johnson & Johnson has a twelve month low of $144.95 and a twelve month high of $181.04. The firm has a market capitalization of $360.88 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 3.00 and a beta of 0.58. 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 (NYSE:JNJ – Get Free Report) last announced its quarterly earnings results on Tuesday, October 17th. The company reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.14. Johnson & Johnson had a return on equity of 37.14% and a net margin of 36.32%. The business had revenue of $21.35 billion during the quarter, compared to the consensus estimate of $21 billion. Sell-side analysts forecast that Johnson & Johnson will post 10.1 EPS for the current fiscal year.
Johnson & Johnson Dividend Announcement
The business 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 dividend of $1.19 per share. The ex-dividend date is Monday, November 20th. This represents a $4.76 annualized dividend and a yield of 3.18%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 35.34%.
About Johnson & Johnson
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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