Somerville Kurt F lowered its stake in shares of Johnson & Johnson (NYSE:JNJ) by 8.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 122,591 shares of the company’s stock after selling 10,771 shares during the quarter. Johnson & Johnson accounts for 3.4% of Somerville Kurt F’s investment portfolio, making the stock its 8th biggest position. Somerville Kurt F’s holdings in Johnson & Johnson were worth $17,074,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Evolution Wealth Advisors LLC bought a new stake in Johnson & Johnson in the 4th quarter worth $40,000. Horan Securities Inc. grew its holdings in Johnson & Johnson by 122.3% in the 4th quarter. Horan Securities Inc. now owns 438 shares of the company’s stock worth $56,000 after acquiring an additional 241 shares during the last quarter. FNY Investment Advisers LLC grew its holdings in Johnson & Johnson by 594.4% in the 4th quarter. FNY Investment Advisers LLC now owns 500 shares of the company’s stock worth $64,000 after acquiring an additional 428 shares during the last quarter. Thor Advisors LLC bought a new stake in Johnson & Johnson in the 1st quarter worth $69,000. Finally, Lowe Wealth Advisors LLC grew its holdings in Johnson & Johnson by 50.6% in the 2nd quarter. Lowe Wealth Advisors LLC now owns 821 shares of the company’s stock worth $114,000 after acquiring an additional 276 shares during the last quarter. 66.82% of the stock is currently owned by institutional investors.
In related news, Director Marillyn A. Hewson bought 3,000 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was purchased at an average cost of $139.68 per share, with a total value of $419,040.00. Following the transaction, the director now owns 3,000 shares in the company, valued at approximately $419,040. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.23% of the company’s stock.
Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, July 16th. The company reported $2.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.42 by $0.16. Johnson & Johnson had a net margin of 20.08% and a return on equity of 38.63%. The firm had revenue of $20.56 billion during the quarter, compared to analysts’ expectations of $20.39 billion. During the same period last year, the company posted $2.10 EPS. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, equities research analysts expect that Johnson & Johnson will post 8.6 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be given a $0.95 dividend. The ex-dividend date of this dividend is Monday, August 26th. This represents a $3.80 annualized dividend and a dividend yield of 2.88%. Johnson & Johnson’s dividend payout ratio is 46.45%.
A number of equities research analysts have issued reports on JNJ shares. Zacks Investment Research lowered shares of Johnson & Johnson from a “buy” rating to a “hold” rating and set a $139.00 price target on the stock. in a report on Thursday, July 18th. Bank of America reissued a “hold” rating and issued a $150.00 price target on shares of Johnson & Johnson in a report on Tuesday, July 16th. Wells Fargo & Co reissued an “outperform” rating and issued a $157.00 price target (up previously from $152.00) on shares of Johnson & Johnson in a report on Monday, May 6th. Credit Suisse Group set a $156.00 price target on shares of Johnson & Johnson and gave the stock a “buy” rating in a report on Thursday, July 18th. Finally, Raymond James cut their price target on shares of Johnson & Johnson from $147.00 to $146.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $148.56.
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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