Westchester Capital Management Inc. raised its position in shares of Johnson & Johnson (NYSE:JNJ) by 1.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,905 shares of the company’s stock after buying an additional 778 shares during the quarter. Johnson & Johnson comprises 4.0% of Westchester Capital Management Inc.’s portfolio, making the stock its 10th biggest holding. Westchester Capital Management Inc.’s holdings in Johnson & Johnson were worth $8,333,000 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 the business. Lenox Wealth Advisors Inc. grew its holdings in Johnson & Johnson by 0.7% during the 1st quarter. Lenox Wealth Advisors Inc. now owns 871 shares of the company’s stock valued at $108,000 after buying an additional 6 shares in the last quarter. Berson & Corrado Investment Advisors LLC grew its holdings in Johnson & Johnson by 0.7% during the 1st quarter. Berson & Corrado Investment Advisors LLC now owns 2,835 shares of the company’s stock valued at $353,000 after buying an additional 19 shares in the last quarter. Madrona Financial Services LLC grew its holdings in Johnson & Johnson by 1.7% during the 1st quarter. Madrona Financial Services LLC now owns 2,617 shares of the company’s stock valued at $326,000 after buying an additional 43 shares in the last quarter. Liberty Capital Management Inc. grew its holdings in Johnson & Johnson by 0.7% during the 1st quarter. Liberty Capital Management Inc. now owns 7,226 shares of the company’s stock valued at $900,000 after buying an additional 50 shares in the last quarter. Finally, Sfmg LLC grew its holdings in Johnson & Johnson by 0.8% during the 1st quarter. Sfmg LLC now owns 6,663 shares of the company’s stock valued at $830,000 after buying an additional 52 shares in the last quarter. Institutional investors and hedge funds own 66.00% of the company’s stock.
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In other news, VP Paulus Stoffels sold 102,692 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $133.14, for a total transaction of $13,672,412.88. Following the completion of the transaction, the vice president now directly owns 230,342 shares in the company, valued at $30,667,733.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Dominic J. Caruso sold 82,591 shares of the firm’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $136.72, for a total value 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 disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.
JNJ has been the subject of a number of recent research reports. Vetr upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and set a $132.33 target price for the company in a report on Thursday, May 18th. J P Morgan Chase & Co lifted their target price on Johnson & Johnson from $140.00 to $148.00 and gave the stock an “overweight” rating in a report on Wednesday, August 16th. BidaskClub upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. Stifel Nicolaus reiterated a “hold” rating and issued a $128.00 target price (up previously from $124.00) on shares of Johnson & Johnson in a report on Thursday, May 18th. Finally, Wells Fargo & Company reiterated a “market perform” rating and issued a $135.00 target price (up previously from $132.00) on shares of Johnson & Johnson in a report on Thursday, July 6th. Three 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’s stock. Johnson & Johnson has an average rating of “Hold” and a consensus price target of $134.60.
Shares of Johnson & Johnson (NYSE:JNJ) traded up 0.20% during midday trading on Friday, reaching $134.45. The company’s stock had a trading volume of 15,522,011 shares. Johnson & Johnson has a one year low of $109.32 and a one year high of $137.08. The company has a market capitalization of $360.86 billion, a P/E ratio of 22.75 and a beta of 0.79. The stock’s 50-day moving average is $132.62 and its 200-day moving average is $129.18.
Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, July 18th. The company reported $1.83 EPS for the quarter, topping the 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 business had revenue of $18.84 billion during the quarter, compared to analyst estimates of $18.94 billion. During the same period last year, the business posted $1.74 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. On average, equities analysts expect that Johnson & Johnson will post $7.18 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Tuesday, August 29th were given a dividend of $0.84 per share. The ex-dividend date of this dividend was Friday, August 25th. This represents a $3.36 annualized dividend and a dividend yield of 2.50%. Johnson & Johnson’s dividend payout ratio is currently 56.76%.
Johnson & Johnson Company 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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