Boston Private Wealth LLC boosted its stake in Johnson & Johnson (NYSE:JNJ) by 0.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 256,069 shares of the company’s stock after purchasing an additional 1,970 shares during the quarter. Johnson & Johnson comprises 0.7% of Boston Private Wealth LLC’s investment portfolio, making the stock its 25th biggest position. Boston Private Wealth LLC’s holdings in Johnson & Johnson were worth $33,130,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of JNJ. Phocas Financial Corp. raised its stake in Johnson & Johnson by 999,928.6% in the second quarter. Phocas Financial Corp. now owns 125,173,583 shares of the company’s stock valued at $1,743,000 after purchasing an additional 125,161,066 shares in the last quarter. Nuveen Asset Management LLC grew its position in Johnson & Johnson by 5,447.1% in the second quarter. Nuveen Asset Management LLC now owns 16,924,656 shares of the company’s stock valued at $2,357,266,000 after acquiring an additional 16,619,550 shares during the last quarter. Thoroughbred Financial Services LLC grew its position in Johnson & Johnson by 14,147.0% in the second quarter. Thoroughbred Financial Services LLC now owns 4,014,247 shares of the company’s stock valued at $401,425,000 after acquiring an additional 3,986,071 shares during the last quarter. Renaissance Technologies LLC grew its position in Johnson & Johnson by 145.5% in the second quarter. Renaissance Technologies LLC now owns 4,341,162 shares of the company’s stock valued at $604,637,000 after acquiring an additional 2,572,695 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Johnson & Johnson by 11.9% in the second quarter. Price T Rowe Associates Inc. MD now owns 20,791,713 shares of the company’s stock valued at $2,895,870,000 after acquiring an additional 2,204,757 shares during the last quarter. 72.22% of the stock is owned by institutional investors and hedge funds.
A number of research firms have issued reports on JNJ. Bank of America reiterated a “hold” rating and issued a $150.00 target price on shares of Johnson & Johnson in a research report on Tuesday, July 16th. Goldman Sachs Group set a $169.00 target price on Johnson & Johnson and gave the company a “buy” rating in a research report on Tuesday, August 27th. Wells Fargo & Co decreased their target price on Johnson & Johnson from $157.00 to $155.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 16th. Sanford C. Bernstein upgraded Johnson & Johnson from a “market perform” rating to an “outperform” rating and set a $155.00 target price on the stock in a research report on Friday, October 11th. Finally, Credit Suisse Group lifted their target price on Johnson & Johnson from $158.00 to $163.00 in a research report on Thursday, October 24th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Johnson & Johnson presently has a consensus rating of “Buy” and an average target price of $151.64.
Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, October 15th. The company reported $2.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.00 by $0.12. The company had revenue of $20.73 billion for the quarter, compared to analysts’ expectations of $20.14 billion. Johnson & Johnson had a return on equity of 39.81% and a net margin of 21.09%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.05 earnings per share. As a group, equities analysts forecast that Johnson & Johnson will post 8.65 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Monday, November 25th. Johnson & Johnson’s dividend payout ratio (DPR) 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.
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