Wedbush Securities Inc. raised its stake in Johnson & Johnson (NYSE:JNJ) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 53,623 shares of the company’s stock after buying an additional 274 shares during the period. Johnson & Johnson comprises about 0.8% of Wedbush Securities Inc.’s portfolio, making the stock its 21st biggest position. Wedbush Securities Inc.’s holdings in Johnson & Johnson were worth $7,469,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Evolution Wealth Advisors LLC acquired a new position in Johnson & Johnson during the 4th quarter worth approximately $40,000. Thor Advisors LLC acquired a new position in Johnson & Johnson during the 1st quarter worth approximately $69,000. Personal Wealth Partners acquired a new position in Johnson & Johnson during the 2nd quarter worth approximately $73,000. Quattro Financial Advisors LLC acquired a new position in Johnson & Johnson during the 2nd quarter worth approximately $92,000. Finally, Financial Gravity Wealth Inc. raised its stake in Johnson & Johnson by 36.9% during the 2nd quarter. Financial Gravity Wealth Inc. now owns 809 shares of the company’s stock worth $113,000 after buying an additional 218 shares during the period. Hedge funds and other institutional investors own 67.23% of the company’s stock.
A number of research analysts recently weighed in on the company. Bank of America reaffirmed a “hold” rating and set a $150.00 price target on shares of Johnson & Johnson in a research note on Tuesday, July 16th. Raymond James dropped their price target on Johnson & Johnson from $147.00 to $146.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Zacks Investment Research downgraded Johnson & Johnson from a “buy” rating to a “hold” rating and set a $139.00 price target on the stock. in a research note on Thursday, July 18th. Wells Fargo & Co reaffirmed an “outperform” rating and set a $157.00 price target (up from $152.00) on shares of Johnson & Johnson in a research note on Monday, May 6th. Finally, Royal Bank of Canada reaffirmed a “buy” rating on shares of Johnson & Johnson in a research note on Tuesday, July 16th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $148.56.
Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, July 16th. The company reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.16. The firm had revenue of $20.56 billion during the quarter, compared to analyst estimates of $20.39 billion. Johnson & Johnson had a return on equity of 38.63% and a net margin of 20.08%. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.10 EPS. As a group, sell-side analysts anticipate that Johnson & Johnson will post 8.6 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend is Monday, August 26th. Johnson & Johnson’s dividend payout ratio is currently 46.45%.
In related news, Director Marillyn A. Hewson acquired 3,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was purchased at an average cost of $139.68 per share, with a total value of $419,040.00. Following the acquisition, the director now owns 3,000 shares of the company’s stock, valued at approximately $419,040. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.23% of the company’s stock.
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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