Howard Capital Management Reduces Position in Johnson & Johnson (JNJ)
Howard Capital Management cut its position in shares of Johnson & Johnson (NYSE:JNJ) by 33.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,507 shares of the company’s stock after selling 51,231 shares during the period. Johnson & Johnson accounts for 2.1% of Howard Capital Management’s investment portfolio, making the stock its 20th largest position. Howard Capital Management’s holdings in Johnson & Johnson were worth $13,428,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Lenox Wealth Advisors Inc. raised its position in shares of Johnson & Johnson by 0.7% in the first quarter. Lenox Wealth Advisors Inc. now owns 871 shares of the company’s stock worth $108,000 after buying an additional 6 shares during the period. Thomas J. Herzfeld Advisors Inc. acquired a new position in shares of Johnson & Johnson during the fourth quarter worth about $117,000. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Johnson & Johnson by 241.0% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,190 shares of the company’s stock worth $149,000 after buying an additional 841 shares during the period. Ullmann Financial Group Inc. acquired a new position in shares of Johnson & Johnson during the first quarter worth about $186,000. Finally, Taylor Wealth Management Partners raised its position in shares of Johnson & Johnson by 19.8% in the first quarter. Taylor Wealth Management Partners now owns 1,510 shares of the company’s stock worth $188,000 after buying an additional 250 shares during the period. Institutional investors and hedge funds own 65.98% of the company’s stock.
Shares of Johnson & Johnson (NYSE:JNJ) traded down 1.01% during mid-day trading on Friday, hitting $131.03. 3,820,814 shares of the stock traded hands. The stock has a market cap of $351.68 billion, a price-to-earnings ratio of 22.17 and a beta of 0.79. Johnson & Johnson has a 52 week low of $109.32 and a 52 week high of $137.08. The firm’s 50-day moving average is $132.89 and its 200-day moving average is $128.36.
Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, July 18th. The company reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.04. The company had revenue of $18.84 billion during the quarter, compared to the consensus estimate of $18.94 billion. Johnson & Johnson had a return on equity of 26.76% and a net margin of 22.52%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.74 earnings per share. On average, analysts forecast that Johnson & Johnson will post $7.18 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Tuesday, August 29th will be issued a dividend of $0.84 per share. The ex-dividend date is Friday, August 25th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.56%. Johnson & Johnson’s dividend payout ratio is presently 56.76%.
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A number of brokerages recently issued reports on JNJ. Credit Suisse Group reiterated a “buy” rating on shares of Johnson & Johnson in a report on Friday, August 4th. Vetr lowered shares of Johnson & Johnson from a “buy” rating to a “hold” rating and set a $128.90 price objective for the company. in a report on Monday, May 8th. Alembic Global Advisors lowered shares of Johnson & Johnson from a “neutral” rating to an “underweight” rating in a report on Friday, July 21st. UBS AG reiterated a “buy” rating and issued a $148.00 price objective on shares of Johnson & Johnson in a report on Thursday. Finally, Wells Fargo & Company reiterated a “market perform” rating and issued a $135.00 price objective (up previously from $132.00) on shares of Johnson & Johnson in a report on Thursday, July 6th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $134.60.
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 stock was 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 in the company, valued at $30,667,733.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Dominic J. Caruso sold 82,591 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $136.72, for a total value of $11,291,841.52. Following the transaction, the vice president now 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. 0.19% of the stock is owned by corporate 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. 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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