Johnson & Johnson (JNJ) Shares Sold by Private Asset Management Inc.
Private Asset Management Inc. cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 0.7% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 147,735 shares of the company’s stock after selling 995 shares during the period. Johnson & Johnson comprises 2.9% of Private Asset Management Inc.’s portfolio, making the stock its 6th largest position. Private Asset Management Inc.’s holdings in Johnson & Johnson were worth $17,452,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of JNJ. Americafirst Capital Management LLC acquired a new position in Johnson & Johnson during the second quarter worth $101,000. Tuttle Tactical Management LLC acquired a new position in Johnson & Johnson during the second quarter worth $103,000. Lenox Wealth Management Inc. boosted its position in Johnson & Johnson by 24.3% in the second quarter. Lenox Wealth Management Inc. now owns 972 shares of the company’s stock worth $118,000 after buying an additional 190 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. boosted its position in Johnson & Johnson by 221.2% in the second quarter. Thomas J. Herzfeld Advisors Inc. now owns 1,002 shares of the company’s stock worth $122,000 after buying an additional 690 shares during the last quarter. Finally, NCM Capital Management Group Inc. acquired a new position in Johnson & Johnson during the second quarter worth $127,000. 64.13% of the stock is owned by institutional investors and hedge funds.
Shares of Johnson & Johnson (NYSE:JNJ) traded down 0.88% during mid-day trading on Monday, hitting $113.12. The stock had a trading volume of 4,765,296 shares. The stock has a market cap of $307.75 billion, a P/E ratio of 19.86 and a beta of 0.75. The company’s 50 day moving average price is $116.14 and its 200 day moving average price is $118.35. Johnson & Johnson has a 12-month low of $94.28 and a 12-month high of $126.07.
Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, October 18th. The company reported $1.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.66 by $0.02. The firm earned $17.80 billion during the quarter, compared to analysts’ expectations of $17.71 billion. Johnson & Johnson had a net margin of 22.03% and a return on equity of 25.30%. Johnson & Johnson’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.49 EPS. Equities research analysts predict that Johnson & Johnson will post $6.72 EPS for the current fiscal year.
The company 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. This is a boost from Johnson & Johnson’s previous quarterly dividend of $0.29. This represents a $3.20 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Friday, November 18th. Johnson & Johnson’s payout ratio is presently 56.64%.
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JNJ has been the subject of a number of analyst reports. Vetr raised Johnson & Johnson from a “hold” rating to a “buy” rating and set a $124.21 price target for the company in a report on Monday, August 22nd. RBC Capital Markets set a $133.00 price objective on Johnson & Johnson and gave the stock a “buy” rating in a research note on Wednesday, November 9th. Zacks Investment Research lowered Johnson & Johnson from a “buy” rating to a “hold” rating in a research note on Tuesday, September 20th. Argus reiterated a “buy” rating and set a $145.00 price objective on shares of Johnson & Johnson in a research note on Friday, October 21st. Finally, BTIG Research reiterated a “neutral” rating on shares of Johnson & Johnson in a research note on Thursday, August 25th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company’s stock. Johnson & Johnson presently has a consensus rating of “Hold” and an average target price of $121.02.
In other news, Director Charles Prince bought 875 shares of the stock in a transaction on Friday, October 21st. The stock was purchased at an average cost of $114.11 per share, with a total value of $99,846.25. Following the purchase, the director now owns 26,520 shares of the company’s stock, valued at $3,026,197.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.11% of the stock is currently owned by company insiders.
Johnson & Johnson Company Profile
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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