Westchester Capital Management Inc. Boosts Position in Johnson & Johnson (JNJ)
Westchester Capital Management Inc. increased its stake in shares of Johnson & Johnson (NYSE:JNJ) by 1.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 66,905 shares of the company’s stock after buying an additional 778 shares during the period. Johnson & Johnson comprises 4.0% of Westchester Capital Management Inc.’s investment portfolio, making the stock its 10th largest position. Westchester Capital Management Inc.’s holdings in Johnson & Johnson were worth $8,333,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Busey Trust CO increased its position in Johnson & Johnson by 0.8% in the first quarter. Busey Trust CO now owns 156,656 shares of the company’s stock valued at $19,512,000 after buying an additional 1,188 shares during the period. Xact Kapitalforvaltning AB increased its position in Johnson & Johnson by 7.2% in the first quarter. Xact Kapitalforvaltning AB now owns 492,886 shares of the company’s stock valued at $61,389,000 after buying an additional 33,153 shares during the period. Trust Co. of Vermont increased its position in Johnson & Johnson by 8.8% in the first quarter. Trust Co. of Vermont now owns 192,292 shares of the company’s stock valued at $23,950,000 after buying an additional 15,569 shares during the period. Madrona Financial Services LLC increased its position in Johnson & Johnson by 1.7% in the first quarter. Madrona Financial Services LLC now owns 2,617 shares of the company’s stock valued at $326,000 after buying an additional 43 shares during the period. Finally, Nuance Investments LLC bought a new position in Johnson & Johnson during the first quarter valued at $39,191,000. Institutional investors own 65.98% of the company’s stock.
Shares of Johnson & Johnson (NYSE JNJ) traded up 0.7684% during midday trading on Thursday, hitting $132.0771. The stock had a trading volume of 1,316,173 shares. Johnson & Johnson has a 52-week low of $109.32 and a 52-week high of $137.08. The firm has a 50 day moving average price of $132.91 and a 200-day moving average price of $127.75. The stock has a market cap of $354.49 billion, a PE ratio of 22.3481 and a beta of 0.78.
Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, July 18th. The company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.04. The business had revenue of $18.84 billion for the quarter, compared to the consensus estimate of $18.94 billion. Johnson & Johnson had a net margin of 22.52% and a return on equity of 26.76%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.74 earnings per share. Equities analysts predict that Johnson & Johnson will post $7.18 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Tuesday, August 29th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Friday, August 25th. Johnson & Johnson’s payout ratio is 56.76%.
Several equities analysts recently weighed in on the company. UBS AG reiterated an “underweight” rating on shares of Johnson & Johnson in a research report on Thursday, August 24th. Cowen and Company set a $147.00 target price on Johnson & Johnson and gave the company a “buy” rating in a research report on Thursday, August 24th. Jefferies Group LLC set a $145.00 target price on Johnson & Johnson and gave the company a “hold” rating in a research report on Tuesday, August 15th. J P Morgan Chase & Co boosted their price objective on Johnson & Johnson from $140.00 to $148.00 and gave the company an “overweight” rating in a research report on Wednesday, August 16th. Finally, Credit Suisse Group restated a “buy” rating on shares of Johnson & Johnson in a research report on Friday, August 4th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $133.91.
In related news, VP Paulus Stoffels sold 102,692 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $133.14, for a total transaction of $13,672,412.88. Following the completion of the transaction, the vice president now owns 230,342 shares of the company’s stock, valued at $30,667,733.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Dominic J. Caruso sold 82,591 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $136.72, for a total transaction of $11,291,841.52. Following the transaction, the vice president now directly owns 226,693 shares of the company’s stock, valued at approximately $30,993,466.96. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.
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. It operates through three segments: Consumer, Pharmaceutical and Medical Devices. Its primary focus is products related to human health and well-being.
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