Riggs Asset Managment Co. Inc. reduced its position in Johnson & Johnson (NYSE:JNJ) by 19.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,005 shares of the company’s stock after selling 740 shares during the quarter. Riggs Asset Managment Co. Inc.’s holdings in Johnson & Johnson were worth $388,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. WoodTrust Financial Corp lifted its holdings in shares of Johnson & Johnson by 4.2% during the third quarter. WoodTrust Financial Corp now owns 46,335 shares of the company’s stock worth $5,995,000 after purchasing an additional 1,848 shares during the period. Park Avenue Securities LLC acquired a new stake in Johnson & Johnson in the third quarter valued at $2,939,000. Billeaud Capital Management Inc. lifted its holdings in Johnson & Johnson by 0.4% in the second quarter. Billeaud Capital Management Inc. now owns 44,014 shares of the company’s stock valued at $6,130,000 after acquiring an additional 169 shares during the period. Meeder Asset Management Inc. lifted its holdings in Johnson & Johnson by 11.1% in the second quarter. Meeder Asset Management Inc. now owns 109,690 shares of the company’s stock valued at $15,277,000 after acquiring an additional 10,927 shares during the period. Finally, Lucia Wealth Services LLC lifted its holdings in Johnson & Johnson by 2.1% in the third quarter. Lucia Wealth Services LLC now owns 131,950 shares of the company’s stock valued at $17,072,000 after acquiring an additional 2,744 shares during the period. 72.25% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on JNJ. Royal Bank of Canada reissued a “buy” rating on shares of Johnson & Johnson in a report on Tuesday, July 16th. Wells Fargo & Co reduced their target price on Johnson & Johnson from $157.00 to $155.00 and set an “outperform” rating for the company in a report on Wednesday, October 16th. Bank of America reissued a “hold” rating and issued a $150.00 target price on shares of Johnson & Johnson in a report on Tuesday, July 16th. Morgan Stanley reissued an “equal weight” rating and issued a $145.00 target price on shares of Johnson & Johnson in a report on Tuesday, August 27th. Finally, Goldman Sachs Group set a $169.00 target price on Johnson & Johnson and gave the company a “buy” rating in a report on Tuesday, August 27th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $151.64.
Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.12. The business had revenue of $20.73 billion during the quarter, compared to analysts’ expectations of $20.14 billion. Johnson & Johnson had a return on equity of 39.81% and a net margin of 21.09%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the business posted $2.05 earnings per share. On average, sell-side analysts anticipate that Johnson & Johnson will post 8.65 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Monday, November 25th. Johnson & Johnson’s dividend payout ratio is presently 46.45%.
Johnson & Johnson Company 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.
See Also: 52-week highs
Receive News & Ratings for Johnson & Johnson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Johnson & Johnson and related companies with MarketBeat.com's FREE daily email newsletter.