ZWJ Investment Counsel Inc. lowered its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 23.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 186,841 shares of the company’s stock after selling 58,410 shares during the quarter. Johnson & Johnson accounts for about 2.3% of ZWJ Investment Counsel Inc.’s portfolio, making the stock its 15th biggest position. ZWJ Investment Counsel Inc.’s holdings in Johnson & Johnson were worth $26,276,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Foundations Investment Advisors LLC bought a new position in shares of Johnson & Johnson during the first quarter worth about $215,000. Triangle Securities Wealth Management grew its holdings 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 worth $3,038,000 after buying an additional 112 shares in the last quarter. American National Bank grew its holdings 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 worth $5,594,000 after buying an additional 10,508 shares in the last quarter. Red Spruce Capital LLC grew its holdings 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 worth $1,404,000 after buying an additional 110 shares in the last quarter. Finally, Callahan Advisors LLC grew its holdings 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 worth $14,890,000 after buying an additional 882 shares in the last quarter. 68.44% of the stock is currently owned by institutional investors.
A number of research analysts recently issued reports on the company. Cantor Fitzgerald reiterated a “buy” rating and set a $168.00 price objective on shares of Johnson & Johnson in a report on Tuesday, April 28th. SVB Leerink reiterated an “outperform” rating on shares of Johnson & Johnson in a report on Wednesday, July 15th. Independent Research upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and raised their price target for the company from $161.00 to $164.00 in a research note on Monday, July 20th. Credit Suisse Group restated a “buy” rating and issued a $161.00 price target on shares of Johnson & Johnson in a research note on Tuesday, April 28th. Finally, ValuEngine downgraded Johnson & Johnson from a “hold” rating to a “sell” rating in a research note on Wednesday, July 15th. Two analysts have rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $163.38.
JNJ opened at $145.76 on Friday. Johnson & Johnson has a 12-month low of $109.16 and a 12-month high of $157.00. The stock has a market cap of $383.76 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 3.23 and a beta of 0.69. The business has a 50 day moving average of $144.04 and a 200-day moving average of $144.14. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 0.40.
Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Thursday, July 16th. The company reported $1.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.50 by $0.17. Johnson & Johnson had a return on equity of 35.21% and a net margin of 22.69%. The company had revenue of $18.34 billion during the quarter, compared to analysts’ expectations of $17.73 billion. During the same period last year, the firm posted $2.58 earnings per share. The business’s revenue was down 10.8% on a year-over-year basis. As a group, analysts expect that Johnson & Johnson will post 7.85 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 25th will be given a $1.01 dividend. The ex-dividend date is Monday, August 24th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.77%. Johnson & Johnson’s payout ratio is 46.54%.
In related news, EVP Ashley Mcevoy sold 29,000 shares of Johnson & Johnson stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $147.47, for a total transaction of $4,276,630.00. Following the completion of the sale, the executive vice president now directly owns 21,682 shares of the company’s stock, valued at approximately $3,197,444.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.27% of the company’s stock.
Johnson & Johnson Company 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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