Equitable Trust Co. reduced its position in Johnson & Johnson (NYSE:JNJ) by 5.4% in the second quarter, Holdings Channel.com reports. The firm owned 69,746 shares of the company’s stock after selling 3,945 shares during the quarter. Johnson & Johnson makes up 1.0% of Equitable Trust Co.’s holdings, making the stock its 25th biggest holding. Equitable Trust Co.’s holdings in Johnson & Johnson were worth $9,714,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of JNJ. Virtus ETF Advisers LLC bought a new stake in shares of Johnson & Johnson in the 2nd quarter valued at about $25,000. Krane Funds Advisors LLC bought a new stake in shares of Johnson & Johnson in the 2nd quarter valued at about $26,000. Crewe Advisors LLC lifted its stake in shares of Johnson & Johnson by 725.9% in the 2nd quarter. Crewe Advisors LLC now owns 223 shares of the company’s stock valued at $31,000 after acquiring an additional 196 shares during the last quarter. Permanens Capital L.P. lifted its stake in shares of Johnson & Johnson by 50.0% in the 2nd quarter. Permanens Capital L.P. now owns 300 shares of the company’s stock valued at $42,000 after acquiring an additional 100 shares during the last quarter. Finally, Thor Advisors LLC bought a new stake in shares of Johnson & Johnson in the 1st quarter valued at about $69,000. Hedge funds and other institutional investors own 72.01% of the company’s stock.
JNJ has been the subject of a number of recent research reports. Barclays initiated coverage on Johnson & Johnson in a research note on Friday, June 21st. They issued a “hold” rating and a $140.00 target price for the company. Zacks Investment Research lowered Johnson & Johnson from a “buy” rating to a “hold” rating and set a $139.00 target price for the company. in a research note on Thursday, July 18th. Royal Bank of Canada reissued a “buy” rating on shares of Johnson & Johnson in a research note on Tuesday, July 16th. Raymond James lowered their price target on Johnson & Johnson from $147.00 to $146.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Finally, Goldman Sachs Group set a $169.00 price target on Johnson & Johnson and gave the company a “buy” rating in a research report on Tuesday, August 27th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Johnson & Johnson currently has an average rating of “Buy” and an average target price of $150.60.
Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, July 16th. The company reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.16. Johnson & Johnson had a return on equity of 38.63% and a net margin of 20.08%. The business had revenue of $20.56 billion during the quarter, compared to analyst estimates of $20.39 billion. During the same quarter in the prior year, the company posted $2.10 EPS. Johnson & Johnson’s quarterly revenue was down 1.3% compared to the same quarter last year. Sell-side analysts forecast that Johnson & Johnson will post 8.6 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were given a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.89%. The ex-dividend date was Monday, August 26th. Johnson & Johnson’s dividend payout ratio is currently 46.45%.
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.
Further Reading: Intrinsic Value and Stock Selection
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