Johnson & Johnson (NYSE:JNJ) was the target of a significant decline in short interest in the month of April. As of April 28th, there was short interest totalling 14,370,293 shares, a decline of 17.4% from the April 13th total of 17,397,650 shares. Based on an average trading volume of 6,259,588 shares, the days-to-cover ratio is presently 2.3 days. Currently, 0.5% of the shares of the company are short sold.
Institutional investors have recently made changes to their positions in the company. Advocacy Wealth Management Services LLC increased its position in Johnson & Johnson by 62.8% in the first quarter. Advocacy Wealth Management Services LLC now owns 801 shares of the company’s stock worth $100,000 after buying an additional 309 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of Johnson & Johnson during the first quarter worth $102,000. Lenox Wealth Advisors Inc. increased its stake in shares of Johnson & Johnson by 0.7% in the first quarter. Lenox Wealth Advisors Inc. now owns 871 shares of the company’s stock worth $108,000 after buying an additional 6 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Johnson & Johnson during the third quarter worth $104,000. Finally, Madden Advisory Services Inc. purchased a new stake in shares of Johnson & Johnson during the first quarter worth $118,000. 65.30% of the stock is currently owned by institutional investors and hedge funds.
Johnson & Johnson (NYSE:JNJ) opened at 127.00 on Friday. The firm has a market capitalization of $342.12 billion, a price-to-earnings ratio of 21.35 and a beta of 0.74. The firm’s 50-day moving average is $124.19 and its 200 day moving average is $119.23. Johnson & Johnson has a one year low of $109.32 and a one year high of $129.00.
Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, April 18th. The company reported $1.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.06. Johnson & Johnson had a net margin of 22.78% and a return on equity of 25.61%. The business had revenue of $17.77 billion for the quarter, compared to analyst estimates of $18.02 billion. During the same quarter in the previous year, the firm posted $1.68 earnings per share. Johnson & Johnson’s revenue was up 1.6% compared to the same quarter last year. Analysts forecast that Johnson & Johnson will post $7.10 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 13th. Investors of record on Tuesday, May 30th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Thursday, May 25th. This represents a $3.36 dividend on an annualized basis and a yield of 2.65%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $0.80. Johnson & Johnson’s payout ratio is 54.42%.
Several brokerages have weighed in on JNJ. Vetr upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and set a $132.33 target price on the stock in a research report on Thursday. Morgan Stanley restated an “equal weight” rating and set a $135.00 target price (up from $130.00) on shares of Johnson & Johnson in a research report on Friday. Cowen and Company restated an “outperform” rating and set a $143.00 target price (up from $138.00) on shares of Johnson & Johnson in a research report on Friday. Stifel Nicolaus restated a “hold” rating and set a $128.00 target price (up from $124.00) on shares of Johnson & Johnson in a research report on Thursday. Finally, Jefferies Group LLC restated a “hold” rating and set a $135.00 target price (down from $140.00) on shares of Johnson & Johnson in a research report on Sunday, May 14th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $128.51.
About Johnson & Johnson
Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. It operates through three segments: Consumer, Pharmaceutical and Medical Devices. Its primary focus is products related to human health and well-being.
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