Independent Franchise Partners LLP increased its stake in Johnson & Johnson (NYSE:JNJ) by 3.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,254,489 shares of the company’s stock after acquiring an additional 189,639 shares during the period. Johnson & Johnson makes up about 7.4% of Independent Franchise Partners LLP’s holdings, making the stock its 2nd largest holding. Independent Franchise Partners LLP owned about 0.23% of Johnson & Johnson worth $827,406,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Arbor Investment Advisors LLC acquired a new stake in Johnson & Johnson in the first quarter valued at $215,000. Reilly Financial Advisors LLC raised its stake in Johnson & Johnson by 3.6% in the first quarter. Reilly Financial Advisors LLC now owns 93,828 shares of the company’s stock valued at $11,686,000 after buying an additional 3,236 shares in the last quarter. Farmers & Merchants Investments Inc. raised its stake in Johnson & Johnson by 0.9% in the first quarter. Farmers & Merchants Investments Inc. now owns 146,304 shares of the company’s stock valued at $18,222,000 after buying an additional 1,282 shares in the last quarter. Benson Investment Management Company Inc. raised its stake in Johnson & Johnson by 1.5% in the first quarter. Benson Investment Management Company Inc. now owns 20,493 shares of the company’s stock valued at $2,552,000 after buying an additional 300 shares in the last quarter. Finally, Somerset Trust Co raised its stake in Johnson & Johnson by 0.9% in the first quarter. Somerset Trust Co now owns 30,850 shares of the company’s stock valued at $3,842,000 after buying an additional 288 shares in the last quarter. Institutional investors and hedge funds own 66.06% of the company’s stock.
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JNJ has been the topic of a number of analyst reports. Morgan Stanley raised their price target on Johnson & Johnson from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, July 5th. Cowen and Company restated an “outperform” rating and issued a $155.00 price target (up from $147.00) on shares of Johnson & Johnson in a research note on Wednesday, October 18th. UBS AG restated a “buy” rating and issued a $148.00 price target on shares of Johnson & Johnson in a research note on Thursday, August 31st. Jefferies Group LLC raised their price target on Johnson & Johnson from $157.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, October 16th. Finally, Zacks Investment Research upgraded Johnson & Johnson from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $143.70.
Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, October 17th. The company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.10. The firm had revenue of $19.65 billion for the quarter, compared to analyst estimates of $19.29 billion. Johnson & Johnson had a net margin of 21.28% and a return on equity of 27.68%. Johnson & Johnson’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.68 earnings per share.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Tuesday, November 28th will be paid a dividend of $0.84 per share. The ex-dividend date is Monday, November 27th. This represents a $3.36 annualized dividend and a yield of 2.41%. Johnson & Johnson’s dividend payout ratio (DPR) is 58.33%.
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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