Covenant Asset Management LLC Holds Holdings in Johnson & Johnson (JNJ)
Covenant Asset Management LLC held its stake in Johnson & Johnson (NYSE:JNJ) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,791 shares of the company’s stock at the close of the 2nd quarter. Johnson & Johnson accounts for approximately 1.6% of Covenant Asset Management LLC’s investment portfolio, making the stock its 12th biggest position. Covenant Asset Management LLC’s holdings in Johnson & Johnson were worth $2,486,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in JNJ. Lenox Wealth Advisors Inc. boosted 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 valued at $108,000 after purchasing an additional 6 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in Johnson & Johnson by 241.0% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,190 shares of the company’s stock valued at $149,000 after purchasing an additional 841 shares in the last quarter. Ullmann Financial Group Inc. purchased a new stake in Johnson & Johnson in the 1st quarter valued at approximately $186,000. Taylor Wealth Management Partners boosted its holdings in Johnson & Johnson by 19.8% in the 1st quarter. Taylor Wealth Management Partners now owns 1,510 shares of the company’s stock valued at $188,000 after purchasing an additional 250 shares in the last quarter. Finally, Foundation Resource Management Inc. purchased a new stake in Johnson & Johnson in the 1st quarter valued at approximately $204,000. 65.90% of the stock is currently owned by institutional investors.
Shares of Johnson & Johnson (NYSE:JNJ) traded up 0.24% on Thursday, reaching $130.06. The company’s stock had a trading volume of 1,426,776 shares. The stock has a market capitalization of $352.90 billion, a PE ratio of 21.93 and a beta of 0.79. Johnson & Johnson has a 1-year low of $109.32 and a 1-year high of $137.08. The stock has a 50-day moving average of $132.79 and a 200 day moving average of $129.43.
Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, July 18th. The company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $18.94 billion. During the same quarter last year, the business posted $1.74 EPS. The company’s revenue was up 1.9% on a year-over-year basis. On average, equities analysts forecast that Johnson & Johnson will post $7.18 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Tuesday, August 29th were paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date was Friday, August 25th. Johnson & Johnson’s dividend payout ratio is 56.76%.
A number of equities research analysts have weighed in on JNJ shares. BMO Capital Markets reaffirmed a “buy” rating and issued a $132.00 price objective on shares of Johnson & Johnson in a report on Friday, June 2nd. Cowen and Company reissued an “outperform” rating and set a $143.00 price target on shares of Johnson & Johnson in a research note on Tuesday, June 13th. Royal Bank Of Canada reissued a “buy” rating and set a $128.00 price target on shares of Johnson & Johnson in a research note on Thursday, June 15th. Jefferies Group LLC reissued a “hold” rating and set a $140.00 price target on shares of Johnson & Johnson in a research note on Friday, June 16th. Finally, BidaskClub raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 17th. Six equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $135.52.
In related news, VP Paulus Stoffels sold 102,692 shares of the firm’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 completion of the transaction, the vice president now owns 230,342 shares of the company’s stock, valued at approximately $30,667,733.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Dominic J. Caruso sold 82,591 shares of the firm’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 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. Company insiders own 0.19% of the company’s stock.
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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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