Eliot Finkel Investment Counsel LLC reduced its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,577 shares of the company’s stock after selling 180 shares during the quarter. Johnson & Johnson accounts for about 3.2% of Eliot Finkel Investment Counsel LLC’s investment portfolio, making the stock its 14th largest holding. Eliot Finkel Investment Counsel LLC’s holdings in Johnson & Johnson were worth $4,955,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Everence Capital Management Inc. increased its stake in shares of Johnson & Johnson by 2.4% in the second quarter. Everence Capital Management Inc. now owns 66,751 shares of the company’s stock valued at $9,297,000 after purchasing an additional 1,570 shares during the period. Capital City Trust Co. FL raised its stake in shares of Johnson & Johnson by 0.3% in the 2nd quarter. Capital City Trust Co. FL now owns 43,273 shares of the company’s stock worth $6,027,000 after buying an additional 132 shares in the last quarter. Iron Financial LLC lifted its holdings in shares of Johnson & Johnson by 6.7% in the second quarter. Iron Financial LLC now owns 5,295 shares of the company’s stock valued at $740,000 after buying an additional 333 shares during the period. Jones Financial Companies Lllp boosted its stake in Johnson & Johnson by 3.2% during the second quarter. Jones Financial Companies Lllp now owns 110,825 shares of the company’s stock valued at $15,435,000 after buying an additional 3,396 shares in the last quarter. Finally, Hillsdale Investment Management Inc. grew its holdings in Johnson & Johnson by 285.0% during the second quarter. Hillsdale Investment Management Inc. now owns 4,735 shares of the company’s stock worth $659,000 after acquiring an additional 3,505 shares during the period. 72.12% of the stock is owned by institutional investors.
A number of brokerages have recently weighed in on JNJ. Raymond James lowered their price target on Johnson & Johnson from $147.00 to $146.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Credit Suisse Group set a $156.00 price objective on shares of Johnson & Johnson and gave the company a “buy” rating in a research report on Tuesday, August 27th. Morgan Stanley restated an “equal weight” rating and issued a $145.00 target price on shares of Johnson & Johnson in a research note on Tuesday, August 27th. Zacks Investment Research cut Johnson & Johnson from a “buy” rating to a “hold” rating and set a $139.00 price target for the company. in a research note on Thursday, July 18th. Finally, Barclays started coverage on shares of Johnson & Johnson in a research note on Friday, June 21st. They issued a “hold” rating and a $140.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Johnson & Johnson has an average rating of “Buy” and a consensus target price of $150.60.
JNJ opened at $129.55 on Wednesday. The company has a market capitalization of $338.37 billion, a P/E ratio of 15.84, a P/E/G ratio of 2.17 and a beta of 0.68. The firm’s fifty day moving average price is $130.07 and its two-hundred day moving average price is $135.99. Johnson & Johnson has a fifty-two week low of $121.00 and a fifty-two week high of $148.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.33 and a quick ratio of 1.04.
Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, July 16th. The company reported $2.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.42 by $0.16. Johnson & Johnson had a return on equity of 38.63% and a net margin of 20.08%. The business had revenue of $20.56 billion during the quarter, compared to analysts’ expectations of $20.39 billion. During the same period in the prior year, the firm posted $2.10 EPS. Johnson & Johnson’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, equities research analysts expect that Johnson & Johnson will post 8.6 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 2.93%. The ex-dividend date was Monday, August 26th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 46.45%.
About Johnson & Johnson
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The 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, 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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