Investment Management of Virginia LLC grew its stake in shares of Johnson & Johnson (NYSE:JNJ) by 1.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,417 shares of the company’s stock after buying an additional 482 shares during the period. Investment Management of Virginia LLC’s holdings in Johnson & Johnson were worth $3,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently added to or reduced their stakes in the company. Federated Investors Inc. PA increased its stake in Johnson & Johnson by 62.2% in the first quarter. Federated Investors Inc. PA now owns 814,908 shares of the company’s stock valued at $104,431,000 after purchasing an additional 312,461 shares in the last quarter. BHK Investment Advisors LLC purchased a new position in Johnson & Johnson during the first quarter worth about $358,000. USS Investment Management Ltd purchased a new position in Johnson & Johnson during the first quarter worth about $14,507,000. Candriam Luxembourg S.C.A. boosted its holdings in Johnson & Johnson by 25.2% during the first quarter. Candriam Luxembourg S.C.A. now owns 419,270 shares of the company’s stock worth $53,732,000 after purchasing an additional 84,393 shares during the last quarter. Finally, Novare Capital Management LLC boosted its holdings in Johnson & Johnson by 1.4% during the first quarter. Novare Capital Management LLC now owns 85,457 shares of the company’s stock worth $10,952,000 after purchasing an additional 1,177 shares during the last quarter. Hedge funds and other institutional investors own 66.51% of the company’s stock.
Several analysts have commented on the stock. Zacks Investment Research raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and set a $158.00 price objective on the stock in a research report on Wednesday, November 28th. Wells Fargo & Co reaffirmed an “outperform” rating and set a $160.00 target price on shares of Johnson & Johnson in a report on Friday, September 14th. HC Wainwright reaffirmed a “buy” rating on shares of Johnson & Johnson in a report on Wednesday, October 17th. Credit Suisse Group set a $149.00 target price on shares of Johnson & Johnson and gave the stock a “buy” rating in a report on Sunday, October 14th. Finally, Citigroup upped their target price on shares of Johnson & Johnson from $137.00 to $148.00 and gave the stock a “neutral” rating in a report on Monday, October 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $143.47.
Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, October 16th. The company reported $2.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.02. The business had revenue of $20.35 billion during the quarter, compared to analysts’ expectations of $20.05 billion. Johnson & Johnson had a net margin of 1.89% and a return on equity of 34.62%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.90 EPS. As a group, equities research analysts forecast that Johnson & Johnson will post 8.16 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 11th. Investors of record on Tuesday, November 27th will be paid a $0.90 dividend. The ex-dividend date is Monday, November 26th. This represents a $3.60 annualized dividend and a dividend yield of 2.45%. Johnson & Johnson’s payout ratio is 49.32%.
In other news, CAO Ronald A. Kapusta sold 7,899 shares of the firm’s stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $137.18, for a total transaction of $1,083,584.82. Following the sale, the chief accounting officer now owns 25,725 shares of the company’s stock, valued at approximately $3,528,955.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Alex Gorsky sold 264,465 shares of the firm’s stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $145.96, for a total transaction of $38,601,311.40. Following the sale, the chief executive officer now directly owns 481,254 shares in the company, valued at approximately $70,243,833.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 351,748 shares of company stock valued at $51,092,647. 0.22% of the stock is owned by company insiders.
Johnson & Johnson Company Profile
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. Its 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, RoC, 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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