Russell Investments Group Ltd. reduced its position in shares of Johnson & Johnson (NYSE:JNJ) by 11.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,435,093 shares of the company’s stock after selling 449,696 shares during the quarter. Johnson & Johnson comprises 1.2% of Russell Investments Group Ltd.’s portfolio, making the stock its 7th largest holding. Russell Investments Group Ltd. owned about 0.13% of Johnson & Johnson worth $452,809,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Houlihan Financial Resource Group Ltd. bought a new position in Johnson & Johnson during the 4th quarter valued at $1,376,000. Bowen Hanes & Co. Inc. boosted its stake in Johnson & Johnson by 11.5% during the 4th quarter. Bowen Hanes & Co. Inc. now owns 362,432 shares of the company’s stock valued at $52,868,000 after purchasing an additional 37,290 shares in the last quarter. Community Financial Services Group LLC boosted its stake in shares of Johnson & Johnson by 2.6% during the 4th quarter. Community Financial Services Group LLC now owns 25,571 shares of the company’s stock worth $3,730,000 after acquiring an additional 645 shares in the last quarter. Chelsea Counsel Co. boosted its stake in shares of Johnson & Johnson by 3.9% during the 4th quarter. Chelsea Counsel Co. now owns 45,344 shares of the company’s stock worth $6,614,000 after acquiring an additional 1,693 shares in the last quarter. Finally, Csenge Advisory Group boosted its stake in shares of Johnson & Johnson by 18.7% during the 4th quarter. Csenge Advisory Group now owns 13,480 shares of the company’s stock worth $1,966,000 after acquiring an additional 2,127 shares in the last quarter. 67.66% of the stock is owned by hedge funds and other institutional investors.
In other news, Director William D. Perez acquired 500 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was acquired at an average cost of $127.69 per share, for a total transaction of $63,845.00. Following the completion of the acquisition, the director now owns 16,030 shares in the company, valued at $2,046,870.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is currently owned by company insiders.
Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, April 14th. The company reported $2.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.03 by $0.27. Johnson & Johnson had a return on equity of 39.71% and a net margin of 24.47%. The business had revenue of $20.69 billion during the quarter, compared to analyst estimates of $19.48 billion. During the same period last year, the company earned $2.10 earnings per share. Johnson & Johnson’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, sell-side analysts forecast that Johnson & Johnson will post 7.68 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Tuesday, May 26th will be issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 2.75%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend is Friday, May 22nd. Johnson & Johnson’s dividend payout ratio (DPR) is currently 43.78%.
JNJ has been the subject of several research reports. Argus reissued a “buy” rating and set a $155.00 price objective (down from $165.00) on shares of Johnson & Johnson in a research note on Friday, March 27th. Bank of America raised Johnson & Johnson from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $150.00 to $175.00 in a research note on Wednesday, April 22nd. Morgan Stanley raised their price objective on Johnson & Johnson from $160.00 to $170.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Stifel Nicolaus raised their price objective on Johnson & Johnson from $140.00 to $155.00 and gave the stock a “hold” rating in a research note on Wednesday, April 15th. Finally, SVB Leerink reduced their price objective on Johnson & Johnson from $172.00 to $160.00 and set an “outperform” rating for the company in a research note on Wednesday, April 8th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Johnson & Johnson presently has an average rating of “Buy” and a consensus target price of $163.47.
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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