Whittier Trust Co. reduced its stake in Johnson & Johnson (NYSE:JNJ) by 2.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 362,256 shares of the company’s stock after selling 9,629 shares during the period. Johnson & Johnson makes up approximately 1.7% of Whittier Trust Co.’s investment portfolio, making the stock its 7th biggest position. Whittier Trust Co.’s holdings in Johnson & Johnson were worth $47,096,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Harding Loevner LP acquired a new position in Johnson & Johnson during the second quarter valued at approximately $106,000. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its position in Johnson & Johnson by 29.9% during the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 870 shares of the company’s stock valued at $115,000 after purchasing an additional 200 shares in the last quarter. Lenox Wealth Advisors Inc. raised its position in Johnson & Johnson by 0.6% during the second quarter. Lenox Wealth Advisors Inc. now owns 876 shares of the company’s stock valued at $116,000 after purchasing an additional 5 shares in the last quarter. Mountain Capital Investment Advisors Inc acquired a new position in Johnson & Johnson during the second quarter valued at approximately $124,000. Finally, Shine Investment Advisory Services Inc. acquired a new position in Johnson & Johnson during the second quarter valued at approximately $177,000. Institutional investors and hedge funds own 65.70% of the company’s stock.
Several brokerages have commented on JNJ. Vetr downgraded shares of Johnson & Johnson from a “buy” rating to a “hold” rating and set a $146.35 price objective for the company. in a research report on Friday, December 22nd. BMO Capital Markets boosted their price objective on shares of Johnson & Johnson to $161.00 and gave the company an “outperform” rating in a research report on Tuesday, December 12th. Zacks Investment Research downgraded shares of Johnson & Johnson from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Citigroup upped their price target 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. Finally, Credit Suisse Group set a $154.00 price target on shares of Johnson & Johnson and gave the stock an “outperform” rating in a report on Thursday, October 19th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $145.47.
Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, October 17th. The company reported $1.90 EPS for the quarter, beating the Zacks’ consensus estimate of $1.80 by $0.10. The business had revenue of $19.65 billion for the quarter, compared to analysts’ expectations of $19.29 billion. Johnson & Johnson had a net margin of 21.28% and a return on equity of 27.38%. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.68 earnings per share. equities research analysts expect that Johnson & Johnson will post 7.28 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 12th. Shareholders of record on Tuesday, November 28th were given a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, November 27th. This represents a $3.36 dividend on an annualized basis and a yield of 2.39%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 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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