World Asset Management Inc lessened its position in Johnson & Johnson (NYSE:JNJ) by 2.6% in the second quarter, HoldingsChannel.com reports. The fund owned 69,612 shares of the company’s stock after selling 1,838 shares during the period. Johnson & Johnson comprises about 1.0% of World Asset Management Inc’s portfolio, making the stock its 10th biggest holding. World Asset Management Inc’s holdings in Johnson & Johnson were worth $11,468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Johnson & Johnson by 0.7% in the 1st quarter. BlackRock Inc. now owns 189,690,998 shares of the company’s stock valued at $31,175,717,000 after acquiring an additional 1,379,656 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Johnson & Johnson by 1.8% during the 1st quarter. Geode Capital Management LLC now owns 40,825,241 shares of the company’s stock worth $6,691,186,000 after buying an additional 716,136 shares during the period. Morgan Stanley boosted its holdings in shares of Johnson & Johnson by 0.8% during the 1st quarter. Morgan Stanley now owns 24,305,948 shares of the company’s stock worth $3,994,681,000 after buying an additional 194,920 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of Johnson & Johnson by 0.8% during the 1st quarter. Nuveen Asset Management LLC now owns 14,395,550 shares of the company’s stock worth $2,365,909,000 after buying an additional 119,687 shares during the period. Finally, Swiss National Bank boosted its holdings in shares of Johnson & Johnson by 1.8% during the 1st quarter. Swiss National Bank now owns 11,038,366 shares of the company’s stock worth $1,814,155,000 after buying an additional 192,000 shares during the period. 67.29% of the stock is owned by institutional investors.
Several analysts recently commented on the stock. Morgan Stanley downgraded shares of Johnson & Johnson from an “overweight” rating to an “equal weight” rating and set a $187.00 target price for the company. in a report on Tuesday, September 7th. SVB Leerink reaffirmed a “buy” rating on shares of Johnson & Johnson in a report on Thursday, July 29th. Finally, Credit Suisse Group set a $193.00 price objective on shares of Johnson & Johnson and gave the company a “buy” rating in a report on Monday, June 7th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $190.38.
Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, July 20th. The company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.29 by $0.19. The company had revenue of $23.31 billion during the quarter, compared to analysts’ expectations of $22.54 billion. Johnson & Johnson had a net margin of 19.92% and a return on equity of 37.06%. The business’s revenue for the quarter was up 27.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.67 EPS. On average, equities analysts forecast that Johnson & Johnson will post 9.65 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 7th. Stockholders of record on Tuesday, August 24th were given a $1.06 dividend. This represents a $4.24 annualized dividend and a dividend yield of 2.57%. The ex-dividend date was Monday, August 23rd. Johnson & Johnson’s payout ratio is presently 52.80%.
Johnson & Johnson Company Profile
Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer Health, Pharmaceutical, and Medical Devices. The Consumer Health segment includes products used in the baby care, oral care, beauty, over-the-counter pharmaceutical, women’s health, and wound care markets.
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