J.P. Marvel Investment Advisors LLC reduced its position in Johnson & Johnson (NYSE:JNJ – Get Rating) by 0.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,932 shares of the company’s stock after selling 113 shares during the quarter. Johnson & Johnson comprises approximately 2.9% of J.P. Marvel Investment Advisors LLC’s investment portfolio, making the stock its 12th biggest holding. J.P. Marvel Investment Advisors LLC’s holdings in Johnson & Johnson were worth $12,236,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Johnson & Johnson by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 238,141,110 shares of the company’s stock worth $42,205,749,000 after purchasing an additional 3,358,478 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Johnson & Johnson by 0.4% during the first quarter. BlackRock Inc. now owns 200,799,189 shares of the company’s stock worth $35,587,638,000 after buying an additional 777,837 shares during the period. Wellington Management Group LLP grew its holdings in shares of Johnson & Johnson by 0.8% during the first quarter. Wellington Management Group LLP now owns 32,772,594 shares of the company’s stock valued at $5,808,286,000 after buying an additional 265,330 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Johnson & Johnson by 1.6% in the 1st quarter. Bank of New York Mellon Corp now owns 32,070,396 shares of the company’s stock valued at $5,683,837,000 after acquiring an additional 509,818 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Johnson & Johnson by 1.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 17,189,229 shares of the company’s stock worth $3,046,449,000 after acquiring an additional 328,297 shares during the last quarter. 68.59% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, VP Peter Fasolo sold 29,275 shares of the firm’s stock in a transaction that occurred on Monday, October 24th. The stock was sold at an average price of $171.36, for a total value of $5,016,564.00. Following the transaction, the vice president now owns 114,676 shares in the company, valued at $19,650,879.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, VP Peter Fasolo sold 29,275 shares of the stock in a transaction dated Monday, October 24th. The shares were sold at an average price of $171.36, for a total value of $5,016,564.00. Following the completion of the sale, the vice president now directly owns 114,676 shares in the company, valued at $19,650,879.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider William Hait sold 15,000 shares of the business’s stock in a transaction dated Monday, October 24th. The stock was sold at an average price of $171.55, for a total transaction of $2,573,250.00. Following the transaction, the insider now owns 80,236 shares in the company, valued at $13,764,485.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,139 shares of company stock worth $11,350,942. Insiders own 0.35% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on JNJ shares. Sanford C. Bernstein cut their price objective on Johnson & Johnson from $194.00 to $190.00 in a report on Wednesday, October 19th. Bank of America decreased their price objective on shares of Johnson & Johnson from $185.00 to $178.00 and set a “neutral” rating for the company in a research note on Friday, October 14th. Morgan Stanley cut their price objective on shares of Johnson & Johnson from $174.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 19th. Raymond James decreased their target price on shares of Johnson & Johnson from $192.00 to $185.00 and set an “outperform” rating for the company in a research report on Wednesday, October 19th. Finally, SVB Leerink reduced their price objective on Johnson & Johnson from $200.00 to $194.00 in a research note on Wednesday, July 20th. Six investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and an average target price of $184.25.
Johnson & Johnson Stock Down 0.5 %
Shares of JNJ opened at $173.97 on Tuesday. The firm has a market cap of $457.40 billion, a P/E ratio of 24.23, a PEG ratio of 3.71 and a beta of 0.56. Johnson & Johnson has a 12 month low of $155.72 and a 12 month high of $186.69. The stock’s 50 day moving average is $165.47 and its two-hundred day moving average is $172.17. The company has a current ratio of 1.42, a quick ratio of 1.17 and a debt-to-equity ratio of 0.37.
Johnson & Johnson (NYSE:JNJ – Get Rating) last issued its quarterly earnings results on Tuesday, October 18th. The company reported $2.55 EPS for the quarter, topping the consensus estimate of $2.49 by $0.06. The company had revenue of $23.79 billion during the quarter, compared to analyst estimates of $23.44 billion. Johnson & Johnson had a net margin of 19.95% and a return on equity of 35.32%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.60 EPS. Analysts predict that Johnson & Johnson will post 10.04 earnings per share for the current fiscal year.
Johnson & Johnson announced that its Board of Directors has initiated a stock buyback plan on Wednesday, September 14th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 1.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.
Johnson & Johnson Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Tuesday, November 22nd will be paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date is Monday, November 21st. Johnson & Johnson’s dividend payout ratio is presently 62.95%.
About Johnson & Johnson
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company’s Consumer Health segment offers baby care products under the JOHNSON’S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.
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