Meridian Investment Counsel Inc. continued to hold its position in shares of Johnson & Johnson (NYSE:JNJ) during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 24,629 shares of the company’s stock at the end of the first quarter. Johnson & Johnson makes up approximately 1.9% of Meridian Investment Counsel Inc.’s investment portfolio, making the stock its 8th biggest holding. Meridian Investment Counsel Inc.’s holdings in Johnson & Johnson were worth $3,068,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in JNJ. Norges Bank purchased a new position in shares of Johnson & Johnson in the 4th quarter worth approximately $3,220,322,000. Fisher Asset Management LLC lifted its stake in shares of Johnson & Johnson by 1.2% during the 1st quarter. Fisher Asset Management LLC now owns 11,093,898 shares of the company’s stock worth $1,381,745,000 after acquiring an additional 136,764 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in Johnson & Johnson by 0.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,948,942 shares of the company’s stock valued at $990,041,000 after purchasing an additional 42,144 shares in the last quarter. Macquarie Group Ltd. raised its position in Johnson & Johnson by 5.6% during the 4th quarter. Macquarie Group Ltd. now owns 6,851,198 shares of the company’s stock valued at $789,328,000 after purchasing an additional 362,616 shares in the last quarter. Finally, Bank of Montreal Can raised its position in Johnson & Johnson by 0.4% during the 1st quarter. Bank of Montreal Can now owns 6,837,755 shares of the company’s stock valued at $851,642,000 after purchasing an additional 26,606 shares in the last quarter. Institutional investors and hedge funds own 66.00% of the company’s stock.
JNJ has been the subject of a number of research analyst reports. Morgan Stanley lifted their target price on Johnson & Johnson from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Wednesday, July 5th. Cowen and Company set a $147.00 price target on Johnson & Johnson and gave the stock a “buy” rating in a research report on Thursday, August 24th. UBS AG reissued a “buy” rating and issued a $148.00 price target on shares of Johnson & Johnson in a research report on Thursday, August 31st. BidaskClub lowered Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 1st. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $140.00 price target on shares of Johnson & Johnson in a research report on Friday, June 16th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. Johnson & Johnson has an average rating of “Hold” and an average price target of $134.60.
Shares of Johnson & Johnson (JNJ) traded up 0.20% during trading on Friday, hitting $134.45. The stock had a trading volume of 15,522,011 shares. The stock’s 50-day moving average is $132.62 and its 200-day moving average is $129.18. The stock has a market cap of $360.86 billion, a price-to-earnings ratio of 22.75 and a beta of 0.79. Johnson & Johnson has a 12-month low of $109.32 and a 12-month high of $137.08.
Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, July 18th. The company reported $1.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.79 by $0.04. Johnson & Johnson had a return on equity of 26.76% and a net margin of 22.52%. The firm had revenue of $18.84 billion for the quarter, compared to analyst estimates of $18.94 billion. During the same quarter last year, the company posted $1.74 earnings per share. The business’s revenue was up 1.9% on a year-over-year basis. On average, equities research analysts expect that Johnson & Johnson will post $7.18 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Tuesday, August 29th were issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend was Friday, August 25th. Johnson & Johnson’s dividend payout ratio is currently 56.76%.
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In related news, VP Dominic J. Caruso sold 82,591 shares of the firm’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $136.72, for a total transaction of $11,291,841.52. Following the transaction, the vice president now owns 226,693 shares of the company’s stock, valued at $30,993,466.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Paulus Stoffels sold 102,692 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $133.14, for a total value of $13,672,412.88. Following the transaction, the vice president now directly owns 230,342 shares in the company, valued at approximately $30,667,733.88. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.
Johnson & Johnson Profile
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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