Johnson & Johnson (JNJ) Holdings Cut by Southeast Asset Advisors Inc.
Southeast Asset Advisors Inc. lowered its position in shares of Johnson & Johnson (NYSE:JNJ) by 1.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,879 shares of the company’s stock after selling 1,033 shares during the period. Johnson & Johnson comprises about 2.4% of Southeast Asset Advisors Inc.’s holdings, making the stock its 9th largest holding. Southeast Asset Advisors Inc.’s holdings in Johnson & Johnson were worth $7,707,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of JNJ. State Street Corp lifted its stake in Johnson & Johnson by 4.3% during the first quarter. State Street Corp now owns 160,223,321 shares of the company’s stock worth $19,955,806,000 after purchasing an additional 6,656,371 shares during the last quarter. Korea Investment CORP lifted its stake in Johnson & Johnson by 38.9% during the first quarter. Korea Investment CORP now owns 2,130,033 shares of the company’s stock worth $265,296,000 after purchasing an additional 596,134 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Johnson & Johnson during the first quarter worth about $65,598,000. CIBC World Markets Inc. lifted its stake in Johnson & Johnson by 111.8% during the first quarter. CIBC World Markets Inc. now owns 948,655 shares of the company’s stock worth $118,155,000 after purchasing an additional 500,662 shares during the last quarter. Finally, State of Tennessee Treasury Department lifted its stake in Johnson & Johnson by 23.0% during the first quarter. State of Tennessee Treasury Department now owns 2,072,592 shares of the company’s stock worth $258,142,000 after purchasing an additional 387,937 shares during the last quarter. 66.00% of the stock is owned by hedge funds and other institutional investors.
Johnson & Johnson (JNJ) traded up 1.4881% on Monday, hitting $132.9291. The company’s stock had a trading volume of 2,102,523 shares. The firm has a market cap of $356.78 billion, a price-to-earnings ratio of 22.4922 and a beta of 0.79. Johnson & Johnson has a 12 month low of $109.32 and a 12 month high of $137.08. The firm has a 50 day moving average of $132.39 and a 200 day moving average of $128.88.
Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, July 18th. The company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.79 by $0.04. Johnson & Johnson had a net margin of 22.52% and a return on equity of 26.76%. The firm had revenue of $18.84 billion for the quarter, compared to analyst estimates of $18.94 billion. During the same period in the prior year, the business posted $1.74 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities research analysts forecast that Johnson & Johnson will post $7.18 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Tuesday, August 29th will be issued a $0.84 dividend. The ex-dividend date is Friday, August 25th. This represents a $3.36 annualized dividend and a dividend yield of 2.57%. Johnson & Johnson’s dividend payout ratio is currently 56.76%.
In other 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 value of $13,672,412.88. Following the transaction, the vice president now directly owns 230,342 shares in the company, valued at approximately $30,667,733.88. The sale was disclosed in a document filed with the SEC, which is accessible 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 stock was sold at an average price of $136.72, for a total transaction of $11,291,841.52. Following the completion of the transaction, the vice president now owns 226,693 shares in the company, valued at $30,993,466.96. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.
Several equities research analysts have issued reports on the company. Credit Suisse Group reaffirmed a “buy” rating on shares of Johnson & Johnson in a research note on Friday, August 4th. Alembic Global Advisors lowered Johnson & Johnson from a “neutral” rating to an “underweight” rating in a research note on Friday, July 21st. UBS AG reissued a “buy” rating and issued a $148.00 target price on shares of Johnson & Johnson in a research note on Thursday, August 31st. Wells Fargo & Company reissued a “market perform” rating and issued a $135.00 target price (up previously from $132.00) on shares of Johnson & Johnson in a research note on Thursday, July 6th. Finally, Zacks Investment Research lowered Johnson & Johnson from a “buy” rating to a “hold” rating in a research note on Friday, July 21st. 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 company. The company presently has a consensus rating of “Hold” and a consensus price target of $134.60.
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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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