Cullen Frost Bankers Inc. cut its stake in Johnson & Johnson (NYSE:JNJ) by 1.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 204,085 shares of the company’s stock after selling 3,613 shares during the period. Johnson & Johnson makes up 0.9% of Cullen Frost Bankers Inc.’s holdings, making the stock its 24th largest position. Cullen Frost Bankers Inc.’s holdings in Johnson & Johnson were worth $26,998,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in JNJ. State Street Corp lifted its position in Johnson & Johnson by 4.3% during the 1st quarter. State Street Corp now owns 160,223,321 shares of the company’s stock worth $19,955,806,000 after buying an additional 6,656,371 shares in the last quarter. Harbour Capital Advisors LLC lifted its position in Johnson & Johnson by 13,327.8% during the 2nd quarter. Harbour Capital Advisors LLC now owns 2,501,472 shares of the company’s stock worth $18,909,000 after buying an additional 2,482,843 shares in the last quarter. Korea Investment CORP lifted its position in Johnson & Johnson by 38.9% during the 1st quarter. Korea Investment CORP now owns 2,130,033 shares of the company’s stock worth $265,296,000 after buying an additional 596,134 shares in the last quarter. Bank of Nova Scotia lifted its position in Johnson & Johnson by 94.5% during the 1st quarter. Bank of Nova Scotia now owns 1,171,517 shares of the company’s stock worth $145,914,000 after buying an additional 569,313 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new stake in Johnson & Johnson during the 1st quarter worth about $65,598,000. 65.93% of the stock is owned by hedge funds and other institutional investors.
Johnson & Johnson (JNJ) opened at $139.49 on Wednesday. Johnson & Johnson has a 52 week low of $109.32 and a 52 week high of $144.35. The company has a market cap of $375,468.03, a PE ratio of 19.57, a P/E/G ratio of 2.84 and a beta of 0.82. The company has a quick ratio of 1.02, a current ratio of 1.32 and a debt-to-equity ratio of 0.36.
Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, October 17th. The company reported $1.90 EPS for the quarter, beating the Zacks’ consensus estimate of $1.80 by $0.10. Johnson & Johnson had a net margin of 21.28% and a return on equity of 27.38%. The business had revenue of $19.65 billion for the quarter, compared to analyst estimates of $19.29 billion. During the same quarter in the prior year, the business earned $1.68 EPS. Johnson & Johnson’s quarterly revenue was up 10.3% on a year-over-year basis. equities analysts forecast that Johnson & Johnson will post 7.28 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Tuesday, November 28th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Monday, November 27th. This represents a $3.36 dividend on an annualized basis and a yield of 2.41%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 58.33%.
Several brokerages have commented on JNJ. Credit Suisse Group reissued a “buy” rating on shares of Johnson & Johnson in a research report on Friday, August 4th. Piper Jaffray Companies reissued a “hold” rating and set a $120.00 price target on shares of Johnson & Johnson in a research report on Wednesday, October 4th. Vetr cut shares of Johnson & Johnson from a “hold” rating to a “sell” rating and set a $130.49 price target on the stock. in a research report on Monday, September 18th. Alembic Global Advisors cut shares of Johnson & Johnson from a “neutral” rating to an “underweight” rating in a research report on Friday, July 21st. Finally, Stifel Nicolaus boosted their price target on shares of Johnson & Johnson from $140.00 to $142.00 and gave the stock a “hold” rating in a research report on Wednesday, October 18th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $143.70.
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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