Traders Buy Johnson & Johnson (JNJ) on Weakness
Traders bought shares of Johnson & Johnson (NYSE:JNJ) on weakness during trading hours on Tuesday. $192.81 million flowed into the stock on the tick-up and $133.03 million flowed out of the stock on the tick-down, for a money net flow of $59.78 million into the stock. Of all companies tracked, Johnson & Johnson had the 7th highest net in-flow for the day. Johnson & Johnson traded down ($0.58) for the day and closed at $132.63
JNJ has been the topic of several research analyst reports. J P Morgan Chase & Co raised Johnson & Johnson from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $123.64 to $140.00 in a research report on Monday, May 15th. UBS AG reaffirmed a “buy” rating and set a $136.00 price target on shares of Johnson & Johnson in a research report on Monday, May 15th. Vetr lowered Johnson & Johnson from a “buy” rating to a “hold” rating and set a $128.82 price target on the stock. in a research report on Monday, May 15th. Stifel Nicolaus reaffirmed a “hold” rating and set a $128.00 price target (up previously from $124.00) on shares of Johnson & Johnson in a research report on Thursday, May 18th. Finally, Cowen and Company reaffirmed a “buy” rating and set a $143.00 price target (up previously from $138.00) on shares of Johnson & Johnson in a research report on Friday, May 19th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $134.60.
The firm’s 50 day moving average price is $132.42 and its 200-day moving average price is $128.96. The firm has a market cap of $355.98 billion, a PE ratio of 22.44 and a beta of 0.79.
Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, July 18th. The company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.04. Johnson & Johnson had a return on equity of 26.76% and a net margin of 22.52%. The business had revenue of $18.84 billion for the quarter, compared to analysts’ expectations of $18.94 billion. During the same period in the prior year, the firm earned $1.74 EPS. The business’s quarterly revenue was up 1.9% on a year-over-year basis. Analysts anticipate that Johnson & Johnson will post $7.18 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Tuesday, August 29th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Friday, August 25th. Johnson & Johnson’s dividend payout ratio (DPR) is 56.76%.
In related news, VP Paulus Stoffels sold 102,692 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $133.14, for a total value of $13,672,412.88. Following the completion of the transaction, the vice president now directly owns 230,342 shares of the company’s stock, valued at approximately $30,667,733.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Dominic J. Caruso sold 82,591 shares of the stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $136.72, for a total value of $11,291,841.52. Following the completion of the transaction, the vice president now directly owns 226,693 shares of the company’s stock, 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.
Hedge funds have recently modified their holdings of the stock. Harding Loevner LP bought a new position in Johnson & Johnson in the 2nd quarter worth approximately $106,000. Lenox Wealth Advisors Inc. grew its holdings in Johnson & Johnson by 0.7% in the 1st quarter. Lenox Wealth Advisors Inc. now owns 871 shares of the company’s stock worth $108,000 after buying an additional 6 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its holdings in Johnson & Johnson by 29.9% in the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 870 shares of the company’s stock worth $115,000 after buying an additional 200 shares in the last quarter. IHT Wealth Management LLC grew its holdings in Johnson & Johnson by 46.4% in the 2nd quarter. IHT Wealth Management LLC now owns 10,942 shares of the company’s stock worth $122,000 after buying an additional 3,467 shares in the last quarter. Finally, Mountain Capital Investment Advisors Inc bought a new position in Johnson & Johnson in the 2nd quarter worth approximately $124,000. 66.00% of the stock is owned by institutional investors and hedge funds.
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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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