CIBC Asset Management Inc grew its stake in Johnson & Johnson (NYSE:JNJ) by 20.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 325,500 shares of the company’s stock after acquiring an additional 55,729 shares during the period. CIBC Asset Management Inc’s holdings in Johnson & Johnson were worth $45,775,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Foundations Investment Advisors LLC bought a new position in shares of Johnson & Johnson during the first quarter valued at approximately $215,000. Triangle Securities Wealth Management boosted its stake in shares of Johnson & Johnson by 0.5% during the first quarter. Triangle Securities Wealth Management now owns 23,171 shares of the company’s stock valued at $3,038,000 after purchasing an additional 112 shares in the last quarter. American National Bank boosted its stake in shares of Johnson & Johnson by 32.7% during the first quarter. American National Bank now owns 42,661 shares of the company’s stock valued at $5,594,000 after purchasing an additional 10,508 shares in the last quarter. Red Spruce Capital LLC boosted its stake in shares of Johnson & Johnson by 1.0% during the first quarter. Red Spruce Capital LLC now owns 10,704 shares of the company’s stock valued at $1,404,000 after purchasing an additional 110 shares in the last quarter. Finally, Callahan Advisors LLC boosted its stake in shares of Johnson & Johnson by 0.8% during the first quarter. Callahan Advisors LLC now owns 113,550 shares of the company’s stock valued at $14,890,000 after purchasing an additional 882 shares in the last quarter. Institutional investors and hedge funds own 68.44% of the company’s stock.
NYSE JNJ opened at $145.76 on Friday. The company has a fifty day simple moving average of $144.04 and a two-hundred day simple moving average of $144.14. The stock has a market cap of $383.76 billion, a P/E ratio of 21.31, a P/E/G ratio of 3.23 and a beta of 0.69. Johnson & Johnson has a 12-month low of $109.16 and a 12-month high of $157.00. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 0.40.
Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Thursday, July 16th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.50 by $0.17. The business had revenue of $18.34 billion during the quarter, compared to analysts’ expectations of $17.73 billion. Johnson & Johnson had a net margin of 22.69% and a return on equity of 35.21%. The business’s quarterly revenue was down 10.8% on a year-over-year basis. During the same quarter last year, the company posted $2.58 earnings per share. As a group, sell-side analysts forecast that Johnson & Johnson will post 7.85 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Tuesday, August 25th will be issued a dividend of $1.01 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a $4.04 annualized dividend and a dividend yield of 2.77%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 46.54%.
In related news, EVP Ashley Mcevoy sold 29,000 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $147.47, for a total transaction of $4,276,630.00. Following the completion of the transaction, the executive vice president now owns 21,682 shares of the company’s stock, valued at $3,197,444.54. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.27% of the company’s stock.
JNJ has been the topic of a number of recent research reports. Independent Research upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and increased their price objective for the company from $161.00 to $164.00 in a research note on Monday, July 20th. Cantor Fitzgerald reiterated a “buy” rating and set a $168.00 price objective on shares of Johnson & Johnson in a research note on Tuesday, April 28th. ValuEngine downgraded shares of Johnson & Johnson from a “hold” rating to a “sell” rating in a research note on Wednesday, July 15th. Wells Fargo & Co upgraded shares of Johnson & Johnson to a “hold” rating in a research note on Wednesday, April 22nd. Finally, Credit Suisse Group restated a “buy” rating and issued a $161.00 target price on shares of Johnson & Johnson in a research note on Tuesday, April 28th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. Johnson & Johnson has a consensus rating of “Buy” and a consensus target price of $163.38.
Johnson & Johnson Profile
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The 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, 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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