Pitcairn Co. lessened its position in Johnson & Johnson (NYSE:JNJ) by 4.9% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 46,147 shares of the company’s stock after selling 2,385 shares during the period. Johnson & Johnson makes up about 0.6% of Pitcairn Co.’s holdings, making the stock its 18th largest position. Pitcairn Co.’s holdings in Johnson & Johnson were worth $6,490,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Sector Gamma AS grew its stake in Johnson & Johnson by 0.3% in the first quarter. Sector Gamma AS now owns 117,532 shares of the company’s stock valued at $15,412,000 after acquiring an additional 303 shares during the period. Tradewinds Capital Management LLC grew its stake in Johnson & Johnson by 1.3% in the first quarter. Tradewinds Capital Management LLC now owns 7,602 shares of the company’s stock valued at $997,000 after acquiring an additional 101 shares during the period. Pennsylvania Trust Co grew its stake in Johnson & Johnson by 1.3% in the first quarter. Pennsylvania Trust Co now owns 409,496 shares of the company’s stock valued at $53,698,000 after acquiring an additional 5,413 shares during the period. Private Asset Management Inc. grew its stake in Johnson & Johnson by 0.5% in the second quarter. Private Asset Management Inc. now owns 93,956 shares of the company’s stock valued at $13,213,000 after acquiring an additional 425 shares during the period. Finally, Ontario Teachers Pension Plan Board grew its stake in Johnson & Johnson by 5.2% in the first quarter. Ontario Teachers Pension Plan Board now owns 555,611 shares of the company’s stock valued at $72,857,000 after acquiring an additional 27,525 shares during the period. 68.44% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Ashley Mcevoy sold 29,000 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $147.47, for a total transaction of $4,276,630.00. Following the completion of the transaction, the executive vice president now directly owns 21,682 shares in the company, valued at $3,197,444.54. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.27% of the stock is owned by insiders.
Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Thursday, July 16th. The company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.17. Johnson & Johnson had a return on equity of 35.21% and a net margin of 22.69%. The company had revenue of $18.34 billion for the quarter, compared to analyst estimates of $17.73 billion. During the same period in the previous year, the company posted $2.58 EPS. The firm’s revenue for the quarter was down 10.8% compared to the same quarter last year. Equities analysts predict that Johnson & Johnson will post 7.85 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Tuesday, August 25th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Monday, August 24th. Johnson & Johnson’s payout ratio is 46.54%.
Several brokerages recently issued reports on JNJ. Credit Suisse Group reaffirmed a “buy” rating and set a $161.00 target price on shares of Johnson & Johnson in a research report on Tuesday, April 28th. Zacks Investment Research cut Johnson & Johnson from a “hold” rating to a “sell” rating and set a $150.00 target price on the stock. in a research report on Tuesday, July 7th. Citigroup lifted their target price on Johnson & Johnson from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, July 17th. Bank of America reaffirmed a “buy” rating on shares of Johnson & Johnson in a research report on Monday, July 20th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $168.00 target price on shares of Johnson & Johnson in a research report on Tuesday, April 28th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $163.38.
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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