CI Investments Inc. Reduces Stake in Johnson & Johnson (JNJ)
CI Investments Inc. cut its position in Johnson & Johnson (NYSE:JNJ) by 20.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 807,638 shares of the company’s stock after selling 208,100 shares during the period. Johnson & Johnson accounts for about 1.1% of CI Investments Inc.’s portfolio, making the stock its 25th largest position. CI Investments Inc.’s holdings in Johnson & Johnson were worth $97,966,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Gateway Advisory LLC increased its position in shares of Johnson & Johnson by 0.5% in the first quarter. Gateway Advisory LLC now owns 4,215 shares of the company’s stock valued at $456,000 after buying an additional 23 shares in the last quarter. Mckinley Capital Management LLC Delaware purchased a new position in shares of Johnson & Johnson during the first quarter valued at $15,112,000. FDO Partners LLC purchased a new position in shares of Johnson & Johnson during the first quarter valued at $569,000. Wrapmanager Inc. increased its position in shares of Johnson & Johnson by 4.2% in the first quarter. Wrapmanager Inc. now owns 12,409 shares of the company’s stock valued at $1,343,000 after buying an additional 502 shares in the last quarter. Finally, Agur Provident & Training Funds Management Ltd. purchased a new position in shares of Johnson & Johnson during the first quarter valued at $1,635,000. 65.35% of the stock is currently owned by institutional investors.
Johnson & Johnson (NYSE:JNJ) traded down 0.35% during mid-day trading on Friday, reaching $115.36. 7,717,773 shares of the company were exchanged. Johnson & Johnson has a 1-year low of $94.28 and a 1-year high of $126.07. The stock’s 50-day moving average price is $117.08 and its 200-day moving average price is $118.16. The stock has a market capitalization of $313.84 billion, a price-to-earnings ratio of 20.25 and a beta of 0.75.
Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, October 18th. The company reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. Johnson & Johnson had a return on equity of 25.30% and a net margin of 22.03%. The business earned $17.80 billion during the quarter, compared to the consensus estimate of $17.71 billion. During the same period last year, the company earned $1.49 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, equities research analysts anticipate that Johnson & Johnson will post $6.72 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Tuesday, November 22nd will be paid a $0.80 dividend. The ex-dividend date is Friday, November 18th. This is an increase from Johnson & Johnson’s previous quarterly dividend of $0.29. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.77%. Johnson & Johnson’s dividend payout ratio (DPR) is 56.64%.
Several equities research analysts have recently issued reports on the stock. RBC Capital Markets set a $133.00 price objective on shares of Johnson & Johnson and gave the company a “buy” rating in a research report on Wednesday, November 9th. Vetr cut shares of Johnson & Johnson from a “buy” rating to a “hold” rating and set a $117.54 price objective on the stock. in a research report on Monday, November 7th. Societe Generale reiterated a “hold” rating and set a $116.00 price objective on shares of Johnson & Johnson in a research report on Sunday, October 23rd. Argus reiterated a “buy” rating and set a $145.00 price objective on shares of Johnson & Johnson in a research report on Friday, October 21st. Finally, Zacks Investment Research cut shares of Johnson & Johnson from a “hold” rating to a “sell” rating in a research report on Wednesday, September 28th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company’s stock. Johnson & Johnson has a consensus rating of “Hold” and a consensus price target of $120.79.
In related news, Director Charles Prince bought 875 shares of the business’s stock in a transaction on Friday, October 21st. The stock was acquired at an average cost of $114.11 per share, with a total value of $99,846.25. Following the purchase, the director now directly owns 26,520 shares of the company’s stock, valued at $3,026,197.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.11% of the stock is owned by company insiders.
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. The Company’s segments include Consumer, Pharmaceutical and Medical Devices. The Consumer segment includes a range of products used in the baby care, oral care, skin care, over-the-counter pharmaceutical, women’s health and wound care markets.
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