Waldron Private Wealth LLC lifted its position in Johnson & Johnson (NYSE:JNJ) by 16.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,705 shares of the company’s stock after acquiring an additional 2,358 shares during the quarter. Johnson & Johnson makes up approximately 0.4% of Waldron Private Wealth LLC’s portfolio, making the stock its 27th largest position. Waldron Private Wealth LLC’s holdings in Johnson & Johnson were worth $2,308,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Selective Wealth Management purchased a new position in shares of Johnson & Johnson in the 3rd quarter worth about $105,000. Fusion Family Wealth LLC boosted its holdings in shares of Johnson & Johnson by 621.4% in the 2nd quarter. Fusion Family Wealth LLC now owns 1,010 shares of the company’s stock worth $123,000 after buying an additional 870 shares during the last quarter. Ifrah Financial Services Inc. purchased a new position in shares of Johnson & Johnson in the 3rd quarter worth about $203,000. Exane Asset Management purchased a new position in shares of Johnson & Johnson in the 2nd quarter worth about $206,000. Finally, Peak Capital Management LLC purchased a new position in shares of Johnson & Johnson in the 2nd quarter worth about $207,000. Hedge funds and other institutional investors own 66.56% of the company’s stock.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Johnson & Johnson from a “buy” rating to a “hold” rating in a report on Tuesday, December 4th. Barclays reaffirmed an “equal weight” rating and set a $135.00 price objective (down from $137.00) on shares of Johnson & Johnson in a report on Wednesday, January 23rd. ValuEngine raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a report on Thursday, December 13th. Citigroup upped their price objective on shares of Johnson & Johnson from $139.00 to $147.00 and gave the company a “neutral” rating in a report on Monday, February 25th. Finally, Morgan Stanley dropped their price objective on shares of Johnson & Johnson from $153.00 to $130.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. Johnson & Johnson has an average rating of “Hold” and a consensus price target of $142.81.
Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, January 22nd. The company reported $1.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.95 by $0.02. The business had revenue of $20.39 billion for the quarter, compared to the consensus estimate of $20.27 billion. Johnson & Johnson had a net margin of 18.75% and a return on equity of 35.63%. The company’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.74 earnings per share. On average, analysts anticipate that Johnson & Johnson will post 8.57 earnings per share for the current fiscal year.
Johnson & Johnson announced that its Board of Directors has initiated a share repurchase program on Monday, December 17th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 1.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 26th were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend was Monday, February 25th. Johnson & Johnson’s payout ratio is 44.01%.
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About Johnson & Johnson
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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