AdvisorNet Financial Inc cut its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 7.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,486 shares of the company’s stock after selling 4,044 shares during the quarter. AdvisorNet Financial Inc’s holdings in Johnson & Johnson were worth $6,819,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. BlackRock Inc. lifted its position in Johnson & Johnson by 0.6% during the 2nd quarter. BlackRock Inc. now owns 193,714,044 shares of the company’s stock worth $27,242,005,000 after buying an additional 1,168,129 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Johnson & Johnson by 1.5% in the 1st quarter. Geode Capital Management LLC now owns 38,965,156 shares of the company’s stock valued at $5,100,421,000 after purchasing an additional 572,077 shares during the period. Wellington Management Group LLP raised its holdings in shares of Johnson & Johnson by 10.8% in the 1st quarter. Wellington Management Group LLP now owns 30,556,662 shares of the company’s stock valued at $4,006,895,000 after purchasing an additional 2,968,879 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Johnson & Johnson by 7.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 29,526,058 shares of the company’s stock valued at $3,871,753,000 after purchasing an additional 2,118,870 shares during the period. Finally, Capital World Investors raised its holdings in shares of Johnson & Johnson by 182.9% in the 1st quarter. Capital World Investors now owns 21,195,989 shares of the company’s stock valued at $2,779,435,000 after purchasing an additional 13,703,905 shares during the period. 67.44% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Kathryn E. Wengel sold 16,115 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $153.52, for a total transaction of $2,473,974.80. Following the completion of the sale, the executive vice president now owns 66,658 shares of the company’s stock, valued at approximately $10,233,336.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Ashley Mcevoy sold 29,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $147.47, for a total transaction of $4,276,630.00. Following the sale, the executive vice president now directly owns 21,682 shares of the company’s stock, valued at approximately $3,197,444.54. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company’s stock.
Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Thursday, July 16th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.50 by $0.17. Johnson & Johnson had a net margin of 22.69% and a return on equity of 35.21%. The firm had revenue of $18.34 billion for the quarter, compared to analyst estimates of $17.73 billion. During the same quarter in the prior year, the business posted $2.58 EPS. The business’s revenue was down 10.8% compared to the same quarter last year. As a group, equities research analysts forecast that Johnson & Johnson will post 7.85 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Shareholders of record on Tuesday, August 25th were given a dividend of $1.01 per share. The ex-dividend date was Monday, August 24th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.71%. Johnson & Johnson’s payout ratio is presently 46.54%.
A number of equities research analysts have recently issued reports on JNJ shares. Bank of America reaffirmed a “buy” rating on shares of Johnson & Johnson in a report on Monday, July 20th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $168.00 target price on shares of Johnson & Johnson in a report on Monday, August 3rd. Independent Research raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and upped their target price for the company from $161.00 to $164.00 in a report on Monday, July 20th. Citigroup upped their price target on shares of Johnson & Johnson from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, July 17th. Finally, SVB Leerink reiterated an “outperform” rating on shares of Johnson & Johnson in a research note on Wednesday, July 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $163.00.
About Johnson & Johnson
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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