Resources Management Corp CT ADV acquired a new position in shares of Johnson & Johnson (NYSE:JNJ) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 101,522 shares of the company’s stock, valued at approximately $13,135,000. Johnson & Johnson accounts for about 2.4% of Resources Management Corp CT ADV’s holdings, making the stock its 6th largest holding.
Several other institutional investors and hedge funds also recently made changes to their positions in JNJ. Virtus ETF Advisers LLC acquired a new stake in Johnson & Johnson during the 2nd quarter valued at approximately $25,000. Krane Funds Advisors LLC purchased a new position in shares of Johnson & Johnson during the second quarter worth $26,000. Financial Advantage Inc. purchased a new position in shares of Johnson & Johnson during the third quarter worth $28,000. Crewe Advisors LLC lifted its position in Johnson & Johnson by 725.9% during the second quarter. Crewe Advisors LLC now owns 223 shares of the company’s stock valued at $31,000 after purchasing an additional 196 shares during the period. Finally, Eii Capital Management Inc. acquired a new position in Johnson & Johnson during the third quarter valued at $39,000. 67.63% of the stock is currently owned by hedge funds and other institutional investors.
JNJ has been the topic of several recent research reports. Sanford C. Bernstein raised shares of Johnson & Johnson from a “market perform” rating to an “outperform” rating and set a $155.00 price target on the stock in a report on Friday, October 11th. Atlantic Securities upgraded Johnson & Johnson from an “underweight” rating to a “neutral” rating in a research note on Wednesday, October 16th. Zacks Investment Research raised Johnson & Johnson from a “sell” rating to a “hold” rating and set a $142.00 price objective for the company in a report on Thursday, October 17th. Morgan Stanley restated an “equal weight” rating and issued a $145.00 target price on shares of Johnson & Johnson in a research note on Tuesday, August 27th. Finally, Wells Fargo & Co dropped their target price on Johnson & Johnson from $157.00 to $155.00 and set an “outperform” rating on the stock in a report on Wednesday, October 16th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $152.33.
Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, October 15th. The company reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.12. Johnson & Johnson had a net margin of 21.09% and a return on equity of 39.81%. The business had revenue of $20.73 billion for the quarter, compared to analyst estimates of $20.14 billion. During the same period in the prior year, the company posted $2.05 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, analysts predict that Johnson & Johnson will post 8.65 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be issued a $0.95 dividend. The ex-dividend date is Monday, November 25th. This represents a $3.80 dividend on an annualized basis and a yield of 2.73%. Johnson & Johnson’s payout ratio is 46.45%.
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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