Exchange Capital Management Inc. lowered its stake in Johnson & Johnson (NYSE:JNJ) by 37.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,066 shares of the company’s stock after selling 25,622 shares during the quarter. Johnson & Johnson comprises approximately 1.9% of Exchange Capital Management Inc.’s holdings, making the stock its 14th largest holding. Exchange Capital Management Inc.’s holdings in Johnson & Johnson were worth $5,565,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. OLD Point Trust & Financial Services N A lifted its stake in Johnson & Johnson by 2.2% in the 2nd quarter. OLD Point Trust & Financial Services N A now owns 61,326 shares of the company’s stock worth $8,113,000 after purchasing an additional 1,321 shares in the last quarter. Lynch & Associates IN lifted its stake in Johnson & Johnson by 0.9% in the 2nd quarter. Lynch & Associates IN now owns 93,710 shares of the company’s stock worth $12,397,000 after purchasing an additional 841 shares in the last quarter. Oakbrook Investments LLC lifted its stake in Johnson & Johnson by 7.4% in the 2nd quarter. Oakbrook Investments LLC now owns 136,124 shares of the company’s stock worth $18,008,000 after purchasing an additional 9,375 shares in the last quarter. Trexquant Investment LP purchased a new stake in Johnson & Johnson in the 1st quarter worth $1,731,000. Finally, Janney Montgomery Scott LLC lifted its stake in Johnson & Johnson by 0.5% in the 2nd quarter. Janney Montgomery Scott LLC now owns 771,868 shares of the company’s stock worth $102,110,000 after purchasing an additional 3,533 shares in the last quarter. Institutional investors and hedge funds own 66.06% of the company’s stock.
A number of analysts have recently weighed in on the stock. Vetr upgraded shares of Johnson & Johnson from a “sell” rating to a “hold” rating and set a $137.71 target price on the stock in a report on Tuesday, October 24th. Citigroup Inc. boosted their target price on shares of Johnson & Johnson from $140.00 to $149.00 and gave the stock a “buy” rating in a report on Monday, October 23rd. J P Morgan Chase & Co boosted their target price on shares of Johnson & Johnson from $140.00 to $148.00 and gave the stock an “overweight” rating in a report on Wednesday, August 16th. Leerink Swann restated an “outperform” rating and issued a $165.00 target price (up from $150.00) on shares of Johnson & Johnson in a report on Wednesday, October 18th. Finally, BMO Capital Markets restated a “positive” rating and issued a $152.00 target price (up from $145.00) on shares of Johnson & Johnson in a report on Wednesday, October 18th. 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’s stock. Johnson & Johnson currently has a consensus rating of “Hold” and a consensus target price of $143.70.
Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, October 17th. The company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.10. Johnson & Johnson had a net margin of 21.28% and a return on equity of 27.68%. The business had revenue of $19.65 billion during the quarter, compared to analysts’ expectations of $19.29 billion. During the same period last year, the business earned $1.68 earnings per share. The business’s revenue for the quarter was up 10.3% on a year-over-year basis.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Tuesday, November 28th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Monday, November 27th. Johnson & Johnson’s dividend payout ratio is presently 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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