Summit X LLC lifted its stake in Johnson & Johnson (NYSE:JNJ – Free Report) by 2.0% in the second quarter, Holdings Channel.com reports. The firm owned 3,776 shares of the company’s stock after buying an additional 75 shares during the period. Summit X LLC’s holdings in Johnson & Johnson were worth $626,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of JNJ. DORCHESTER WEALTH MANAGEMENT Co boosted its holdings in shares of Johnson & Johnson by 8.6% in the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 67,618 shares of the company’s stock worth $14,975,000 after purchasing an additional 5,327 shares during the period. Cantor Fitzgerald Investment Advisor L.P boosted its holdings in Johnson & Johnson by 88.9% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 175,194 shares of the company’s stock valued at $31,049,000 after acquiring an additional 82,429 shares during the period. AMI Investment Management Inc. boosted its holdings in Johnson & Johnson by 8.8% during the 1st quarter. AMI Investment Management Inc. now owns 18,305 shares of the company’s stock valued at $3,244,000 after acquiring an additional 1,475 shares during the period. Equitable Holdings Inc. boosted its holdings in Johnson & Johnson by 4.9% during the 1st quarter. Equitable Holdings Inc. now owns 45,673 shares of the company’s stock valued at $8,095,000 after acquiring an additional 2,119 shares during the period. Finally, USS Investment Management Ltd boosted its holdings in Johnson & Johnson by 2.4% during the 1st quarter. USS Investment Management Ltd now owns 860,371 shares of the company’s stock valued at $152,488,000 after acquiring an additional 20,528 shares during the period. Hedge funds and other institutional investors own 68.40% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on JNJ. Morgan Stanley reduced their target price on Johnson & Johnson from $174.00 to $171.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 18th. Barclays increased their price objective on Johnson & Johnson from $158.00 to $162.00 and gave the company an “equal weight” rating in a report on Thursday, October 12th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 26th. Atlantic Securities increased their price objective on Johnson & Johnson from $167.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, August 4th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a report on Friday. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $169.19.
Johnson & Johnson Stock Performance
Shares of JNJ stock opened at $149.79 on Monday. The company has a market capitalization of $360.59 billion, a P/E ratio of 11.12, a P/E/G ratio of 3.00 and a beta of 0.58. The business’s 50 day moving average is $154.77 and its two-hundred day moving average is $160.38. The company has a current ratio of 1.21, a quick ratio of 0.96 and a debt-to-equity ratio of 0.37. Johnson & Johnson has a 12-month low of $144.95 and a 12-month high of $181.04.
Johnson & Johnson (NYSE:JNJ – Get Free Report) last issued its quarterly earnings results on Tuesday, October 17th. The company reported $2.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.14. Johnson & Johnson had a return on equity of 37.14% and a net margin of 36.32%. The company had revenue of $21.35 billion for the quarter, compared to the consensus estimate of $21 billion. Analysts expect that Johnson & Johnson will post 10.1 EPS for the current fiscal year.
Johnson & Johnson Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 21st will be issued a dividend of $1.19 per share. The ex-dividend date is Monday, November 20th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.18%. Johnson & Johnson’s payout ratio is currently 35.34%.
Johnson & Johnson Company Profile
Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment provides skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR. CI:LABO, NEUTROGENA, and OGX brands; baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; TYLENOL acetaminophen products; SUDAFED cold, flu, and allergy products; BENADRYL and ZYRTEC allergy products; MOTRIN IB ibuprofen products; NICORETTE smoking cessation products; and PEPCID acid reflux products.
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