Accuvest Global Advisors bought a new position in Johnson & Johnson (NYSE:JNJ) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,691 shares of the company’s stock, valued at approximately $1,063,000.
Several other hedge funds and other institutional investors also recently modified their holdings of JNJ. Selective Wealth Management purchased a new position in shares of Johnson & Johnson during the third quarter valued at $105,000. WP Advisors LLC purchased a new position in shares of Johnson & Johnson during the second quarter valued at $108,000. Fusion Family Wealth LLC grew its holdings in shares of Johnson & Johnson by 621.4% during the second quarter. Fusion Family Wealth LLC now owns 1,010 shares of the company’s stock valued at $123,000 after buying an additional 870 shares in the last quarter. First Capital Advisors Group LLC. purchased a new position in shares of Johnson & Johnson during the third quarter valued at $207,000. Finally, Jentner Corp purchased a new position in shares of Johnson & Johnson during the third quarter valued at $208,000. Institutional investors and hedge funds own 68.98% of the company’s stock.
In other Johnson & Johnson news, VP Peter Fasolo sold 166,695 shares of the business’s stock in a transaction dated Tuesday, December 4th. The stock was sold at an average price of $146.41, for a total value of $24,405,814.95. Following the completion of the sale, the vice president now owns 155,540 shares of the company’s stock, valued at $22,772,611.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Alex Gorsky sold 264,465 shares of the business’s stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $145.96, for a total value of $38,601,311.40. Following the completion of the sale, the chief executive officer now directly owns 481,254 shares of the company’s stock, valued at approximately $70,243,833.84. The disclosure for this sale can be found here. Insiders sold 465,746 shares of company stock valued at $67,951,916 in the last ninety days. Insiders own 0.22% of the company’s stock.
Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, January 22nd. The company reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.02. Johnson & Johnson had a return on equity of 35.09% and a net margin of 18.75%. The company had revenue of $20.39 billion during the quarter, compared to analysts’ expectations of $20.27 billion. During the same quarter in the previous year, the firm earned $1.74 earnings per share. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, analysts predict that Johnson & Johnson will post 8.57 EPS for the current fiscal year.
Johnson & Johnson declared that its board has authorized a stock repurchase program on Monday, December 17th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to reacquire up to 1.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 12th. Shareholders of record on Tuesday, February 26th will be given a $0.90 dividend. The ex-dividend date of this dividend is Monday, February 25th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.68%. Johnson & Johnson’s dividend payout ratio is currently 44.01%.
JNJ has been the subject of a number of research reports. HC Wainwright reissued a “buy” rating on shares of Johnson & Johnson in a research report on Wednesday, October 17th. Wells Fargo & Co reissued an “outperform” rating and set a $160.00 price objective (up previously from $155.00) on shares of Johnson & Johnson in a research report on Wednesday, October 17th. Raymond James lifted their price objective on Johnson & Johnson from $144.00 to $149.00 and gave the company an “outperform” rating in a research report on Wednesday, October 17th. Credit Suisse Group lifted their price objective on Johnson & Johnson from $149.00 to $152.00 and gave the company an “outperform” rating in a research report on Wednesday, October 17th. Finally, Citigroup lifted their price objective on Johnson & Johnson from $137.00 to $148.00 and gave the company a “neutral” rating in a research report on Monday, October 22nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $142.20.
Johnson & Johnson Company Profile
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. Its 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, RoC, 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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