AQR Capital Management LLC decreased its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 14.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,042,224 shares of the company’s stock after selling 998,264 shares during the period. Johnson & Johnson makes up about 1.3% of AQR Capital Management LLC’s holdings, making the stock its 6th biggest position. AQR Capital Management LLC owned approximately 0.23% of Johnson & Johnson worth $792,316,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. University of Texas Texas AM Investment Managment Co. acquired a new position in Johnson & Johnson during the 4th quarter worth approximately $31,000. Sofos Investments Inc. increased its position in Johnson & Johnson by 172.0% during the 1st quarter. Sofos Investments Inc. now owns 1,148 shares of the company’s stock worth $33,000 after purchasing an additional 726 shares during the period. Altshuler Shaham Ltd acquired a new position in Johnson & Johnson during the 1st quarter worth approximately $35,000. Advocacy Wealth Management Services LLC grew its holdings in shares of Johnson & Johnson by 38.2% in the 1st quarter. Advocacy Wealth Management Services LLC now owns 300 shares of the company’s stock worth $39,000 after acquiring an additional 83 shares during the period. Finally, Lion Street Advisors LLC acquired a new stake in shares of Johnson & Johnson in the 1st quarter worth approximately $45,000. Institutional investors own 68.51% of the company’s stock.
A number of research firms recently weighed in on JNJ. UBS Group cut Johnson & Johnson from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $163.00 to $160.00 in a report on Tuesday, April 28th. Morgan Stanley upped their price target on Johnson & Johnson from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Barclays upped their price target on Johnson & Johnson from $173.00 to $182.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Credit Suisse Group restated a “buy” rating and issued a $161.00 price target on shares of Johnson & Johnson in a report on Tuesday, April 28th. Finally, Wells Fargo & Co upgraded Johnson & Johnson to a “hold” rating in a report on Wednesday, April 22nd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $163.47.
Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, April 14th. The company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.27. The company had revenue of $20.69 billion for the quarter, compared to analyst estimates of $19.48 billion. Johnson & Johnson had a return on equity of 39.71% and a net margin of 24.47%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.10 EPS. On average, equities research analysts anticipate that Johnson & Johnson will post 7.68 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 26th were issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.81%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $0.95. The ex-dividend date was Friday, May 22nd. Johnson & Johnson’s dividend payout ratio is presently 46.54%.
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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