Kessler Investment Group LLC boosted its position in Johnson & Johnson (NYSE:JNJ – Get Rating) by 2.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 40,672 shares of the company’s stock after purchasing an additional 864 shares during the period. Johnson & Johnson comprises about 6.3% of Kessler Investment Group LLC’s investment portfolio, making the stock its biggest position. Kessler Investment Group LLC’s holdings in Johnson & Johnson were worth $7,220,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the company. RE Dickinson Investment Advisors LLC raised its stake in shares of Johnson & Johnson by 163.3% in the first quarter. RE Dickinson Investment Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after buying an additional 98 shares during the period. Morton Brown Family Wealth LLC raised its stake in shares of Johnson & Johnson by 78.0% in the second quarter. Morton Brown Family Wealth LLC now owns 178 shares of the company’s stock worth $32,000 after buying an additional 78 shares during the period. Advanced Research Investment Solutions LLC raised its stake in shares of Johnson & Johnson by 200.0% in the first quarter. Advanced Research Investment Solutions LLC now owns 180 shares of the company’s stock worth $32,000 after buying an additional 120 shares during the period. Professional Financial Advisors LLC raised its stake in shares of Johnson & Johnson by 47.9% in the first quarter. Professional Financial Advisors LLC now owns 210 shares of the company’s stock worth $37,000 after buying an additional 68 shares during the period. Finally, Joseph P. Lucia & Associates LLC bought a new position in shares of Johnson & Johnson in the first quarter worth about $38,000. 68.59% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts have recently commented on the company. Bank of America decreased their price objective on Johnson & Johnson from $185.00 to $178.00 and set a “neutral” rating on the stock in a research note on Friday. Citigroup decreased their target price on Johnson & Johnson from $201.00 to $198.00 in a research note on Wednesday, October 5th. Wells Fargo & Company lifted their target price on Johnson & Johnson from $190.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, July 13th. SVB Leerink decreased their target price on Johnson & Johnson from $200.00 to $194.00 in a research note on Wednesday, July 20th. Finally, Morgan Stanley lifted their target price on Johnson & Johnson from $173.00 to $174.00 and gave the company an “equal weight” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average target price of $188.40.
Johnson & Johnson Stock Performance
NYSE:JNJ opened at $164.46 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.42 and a quick ratio of 1.17. Johnson & Johnson has a 1 year low of $155.72 and a 1 year high of $186.69. The stock’s 50 day simple moving average is $165.11 and its two-hundred day simple moving average is $173.02. The company has a market cap of $432.39 billion, a price-to-earnings ratio of 23.94, a PEG ratio of 3.08 and a beta of 0.56.
Johnson & Johnson (NYSE:JNJ – Get Rating) last released its quarterly earnings data on Tuesday, July 19th. The company reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.02. Johnson & Johnson had a return on equity of 36.14% and a net margin of 19.21%. The business had revenue of $24.02 billion for the quarter, compared to the consensus estimate of $23.85 billion. During the same quarter in the previous year, the company posted $2.48 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. As a group, equities analysts anticipate that Johnson & Johnson will post 9.99 earnings per share for the current fiscal year.
Johnson & Johnson Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 23rd were issued a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend was Monday, August 22nd. Johnson & Johnson’s dividend payout ratio (DPR) is 65.79%.
Johnson & Johnson declared that its Board of Directors has approved a share buyback program on Wednesday, September 14th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 1.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
Johnson & Johnson Profile
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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