Albion Financial Group UT lessened its stake in Johnson & Johnson (NYSE:JNJ) by 0.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,389 shares of the company’s stock after selling 139 shares during the period. Albion Financial Group UT’s holdings in Johnson & Johnson were worth $3,784,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fundsmith Equity Fund L.P. bought a new position in Johnson & Johnson during the 2nd quarter valued at approximately $552,762,000. Peoples Financial Services CORP. raised its position in Johnson & Johnson by 20.4% during the 3rd quarter. Peoples Financial Services CORP. now owns 30,668 shares of the company’s stock valued at $4,237,000 after purchasing an additional 5,190 shares during the last quarter. Sather Financial Group Inc raised its position in Johnson & Johnson by 3.7% during the 2nd quarter. Sather Financial Group Inc now owns 11,051 shares of the company’s stock valued at $1,341,000 after purchasing an additional 399 shares during the last quarter. QUANTRES ASSET MANAGEMENT Ltd bought a new position in Johnson & Johnson during the 3rd quarter valued at approximately $829,000. Finally, Foundation Resource Management Inc. bought a new position in Johnson & Johnson during the 3rd quarter valued at approximately $208,000. 66.43% of the stock is owned by institutional investors.
JNJ stock opened at $138.44 on Wednesday. Johnson & Johnson has a fifty-two week low of $118.62 and a fifty-two week high of $148.99. The company has a current ratio of 1.47, a quick ratio of 1.20 and a debt-to-equity ratio of 0.46. The company has a market cap of $369.17 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 2.11 and a beta of 0.68.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 26th were paid a $0.90 dividend. The ex-dividend date of this dividend was Monday, February 25th. This represents a $3.60 annualized dividend and a dividend yield of 2.60%. Johnson & Johnson’s payout ratio is currently 44.01%.
Johnson & Johnson announced that its board has authorized a stock repurchase program on Monday, December 17th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 1.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
A number of research analysts have commented on the company. Zacks Investment Research raised Johnson & Johnson from a “hold” rating to a “buy” rating and set a $158.00 price target for the company in a research report on Wednesday, November 28th. Morgan Stanley reduced their target price on Johnson & Johnson from $153.00 to $130.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 2nd. Barclays reiterated an “equal weight” rating and set a $135.00 target price (down previously from $137.00) on shares of Johnson & Johnson in a report on Wednesday, January 23rd. Finally, Wells Fargo & Co reiterated an “outperform” rating and set a $152.00 target price (down previously from $162.00) on shares of Johnson & Johnson in a report on Monday, January 14th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $142.81.
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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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