Scharf Investments LLC Takes $58.58 Million Position in Johnson & Johnson (NYSE:JNJ)
Scharf Investments LLC acquired a new stake in Johnson & Johnson (NYSE:JNJ) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 420,563 shares of the company’s stock, valued at approximately $58,577,000. Johnson & Johnson makes up approximately 2.3% of Scharf Investments LLC’s portfolio, making the stock its 23rd biggest position.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Northern Trust Corp raised its stake in shares of Johnson & Johnson by 0.9% during the 2nd quarter. Northern Trust Corp now owns 35,255,462 shares of the company’s stock worth $4,910,381,000 after buying an additional 313,073 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Johnson & Johnson by 1.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 12,399,820 shares of the company’s stock valued at $1,727,047,000 after purchasing an additional 209,429 shares during the last quarter. Fisher Asset Management LLC raised its stake in Johnson & Johnson by 2.6% in the 2nd quarter. Fisher Asset Management LLC now owns 11,841,121 shares of the company’s stock valued at $1,649,231,000 after purchasing an additional 301,124 shares during the last quarter. Parametric Portfolio Associates LLC raised its stake in Johnson & Johnson by 2.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 9,967,399 shares of the company’s stock valued at $1,388,259,000 after purchasing an additional 280,544 shares during the last quarter. Finally, Clearbridge Investments LLC raised its stake in Johnson & Johnson by 0.5% in the 1st quarter. Clearbridge Investments LLC now owns 9,628,443 shares of the company’s stock valued at $1,345,960,000 after purchasing an additional 48,582 shares during the last quarter. Hedge funds and other institutional investors own 72.01% of the company’s stock.
Several research analysts recently commented on the company. Goldman Sachs Group set a $169.00 price objective on Johnson & Johnson and gave the company a “buy” rating in a research note on Tuesday, August 27th. Credit Suisse Group set a $156.00 price objective on Johnson & Johnson and gave the company a “buy” rating in a research note on Tuesday, August 27th. Bank of America reaffirmed a “hold” rating and issued a $150.00 target price on shares of Johnson & Johnson in a research note on Tuesday, July 16th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $145.00 target price on shares of Johnson & Johnson in a research note on Tuesday, August 27th. Finally, Zacks Investment Research downgraded Johnson & Johnson from a “buy” rating to a “hold” rating and set a $139.00 target price for the company. in a research note on Thursday, July 18th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $150.60.
Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, July 16th. The company reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.16. The business had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $20.39 billion. Johnson & Johnson had a return on equity of 38.63% and a net margin of 20.08%. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period last year, the company earned $2.10 EPS. As a group, sell-side analysts anticipate that Johnson & Johnson will post 8.6 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend was Monday, August 26th. Johnson & Johnson’s dividend payout ratio is presently 46.45%.
Johnson & Johnson Profile
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.
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