WBI Investments Inc. acquired a new position in Johnson & Johnson (NYSE:JNJ) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 13,613 shares of the company’s stock, valued at approximately $1,881,000.
A number of other hedge funds have also bought and sold shares of the business. Selective Wealth Management purchased a new position in shares of Johnson & Johnson during the 3rd quarter valued at $105,000. WP Advisors LLC purchased a new position in shares of Johnson & Johnson during the 2nd quarter valued at $108,000. Fusion Family Wealth LLC lifted its position in shares of Johnson & Johnson by 621.4% during the 2nd quarter. Fusion Family Wealth LLC now owns 1,010 shares of the company’s stock valued at $123,000 after buying an additional 870 shares during the last quarter. Cognios Beta Neutral Large Cap Fund LP purchased a new position in shares of Johnson & Johnson during the 2nd quarter valued at $203,000. Finally, Exane Asset Management purchased a new position in shares of Johnson & Johnson during the 2nd quarter valued at $206,000. 68.98% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently commented on JNJ shares. Citigroup dropped their price target on Johnson & Johnson from $148.00 to $139.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 2nd. Zacks Investment Research upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and set a $165.00 price objective on the stock in a research note on Tuesday, November 20th. Morgan Stanley set a $140.00 price objective on Johnson & Johnson and gave the company a “hold” rating in a research note on Thursday, December 20th. Wells Fargo & Co reiterated an “outperform” rating and set a $160.00 price objective (up from $155.00) on shares of Johnson & Johnson in a research note on Wednesday, October 17th. Finally, Credit Suisse Group boosted their price objective on Johnson & Johnson from $149.00 to $152.00 and gave the company an “outperform” rating in a research note on Wednesday, October 17th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $142.20.
Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, January 22nd. The company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.02. Johnson & Johnson had a return on equity of 35.09% and a net margin of 18.75%. The company had revenue of $20.39 billion for the quarter, compared to analyst estimates of $20.27 billion. During the same period in the previous year, the company posted $1.74 EPS. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities analysts predict that Johnson & Johnson will post 8.57 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 12th. Shareholders of record on Tuesday, February 26th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Monday, February 25th. This represents a $3.60 dividend on an annualized basis and a yield of 2.67%. Johnson & Johnson’s dividend payout ratio is currently 44.01%.
Johnson & Johnson declared that its Board of Directors has authorized a share repurchase program on Monday, December 17th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 1.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
In other Johnson & Johnson news, VP Peter Fasolo sold 166,695 shares of the company’s stock in a transaction dated Tuesday, December 4th. The stock was sold at an average price of $146.41, for a total value of $24,405,814.95. Following the transaction, the vice president now directly owns 155,540 shares in the company, valued at approximately $22,772,611.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles Prince bought 2,000 shares of the firm’s stock in a transaction on Friday, December 14th. The stock was acquired at an average price of $134.37 per share, for a total transaction of $268,740.00. Following the completion of the purchase, the director now directly owns 28,520 shares in the company, valued at $3,832,232.40. The disclosure for this purchase can be found here. Insiders sold a total of 465,746 shares of company stock worth $67,951,916 over the last 90 days. Corporate insiders own 0.22% of the company’s stock.
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About Johnson & Johnson
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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