Nippon Life Insurance Co. trimmed its stake in shares of Johnson & Johnson (NYSE:JNJ) by 43.2% in the third quarter, HoldingsChannel.com reports. The fund owned 172,000 shares of the company’s stock after selling 130,700 shares during the quarter. Johnson & Johnson comprises about 0.5% of Nippon Life Insurance Co.’s investment portfolio, making the stock its 20th biggest position. Nippon Life Insurance Co.’s holdings in Johnson & Johnson were worth $22,253,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in JNJ. Virtus ETF Advisers LLC acquired a new position in Johnson & Johnson in the 2nd quarter worth about $25,000. Krane Funds Advisors LLC acquired a new position in Johnson & Johnson in the 2nd quarter worth about $26,000. Financial Advantage Inc. acquired a new position in Johnson & Johnson in the 3rd quarter worth about $28,000. Crewe Advisors LLC increased its holdings in Johnson & Johnson by 725.9% in the 2nd quarter. Crewe Advisors LLC now owns 223 shares of the company’s stock worth $31,000 after purchasing an additional 196 shares in the last quarter. Finally, Eii Capital Management Inc. acquired a new position in Johnson & Johnson in the 3rd quarter worth about $39,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.
A number of equities research analysts have commented on the company. Sanford C. Bernstein upgraded Johnson & Johnson from a “market perform” rating to an “outperform” rating and set a $155.00 price target on the stock in a research report on Friday, October 11th. Atlantic Securities upgraded Johnson & Johnson from an “underweight” rating to a “neutral” rating in a research report on Wednesday, October 16th. Zacks Investment Research upgraded Johnson & Johnson from a “sell” rating to a “hold” rating and set a $142.00 price target on the stock in a research report on Thursday, October 17th. Raymond James cut their target price on Johnson & Johnson from $146.00 to $145.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. Finally, Goldman Sachs Group set a $169.00 target price on Johnson & Johnson and gave the company a “buy” rating in a research report on Tuesday, August 27th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $151.64.
Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, October 15th. The company reported $2.12 EPS for the quarter, beating the consensus estimate of $2.00 by $0.12. Johnson & Johnson had a return on equity of 39.81% and a net margin of 21.09%. The company had revenue of $20.73 billion for the quarter, compared to analyst estimates of $20.14 billion. During the same quarter in the prior year, the company earned $2.05 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, sell-side analysts expect that Johnson & Johnson will post 8.66 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be issued a $0.95 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $3.80 annualized dividend and a yield of 2.82%. Johnson & Johnson’s payout ratio is currently 46.45%.
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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