CI Investments Inc. lessened its stake in Johnson & Johnson (NYSE:JNJ) by 20.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 550,483 shares of the company’s stock after selling 140,889 shares during the period. CI Investments Inc.’s holdings in Johnson & Johnson were worth $81,956,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in JNJ. Newfound Research LLC bought a new position in Johnson & Johnson in the 3rd quarter valued at about $28,000. Islay Capital Management LLC bought a new position in Johnson & Johnson in the 2nd quarter valued at about $42,000. FAI Wealth Management grew its position in Johnson & Johnson by 45.9% in the 2nd quarter. FAI Wealth Management now owns 321 shares of the company’s stock valued at $45,000 after buying an additional 101 shares in the last quarter. SeaBridge Investment Advisors LLC grew its position in Johnson & Johnson by 160.0% in the 2nd quarter. SeaBridge Investment Advisors LLC now owns 325 shares of the company’s stock valued at $46,000 after buying an additional 200 shares in the last quarter. Finally, HWG Holdings LP bought a new position in Johnson & Johnson in the 2nd quarter valued at about $49,000. Hedge funds and other institutional investors own 67.44% of the company’s stock.
A number of brokerages recently issued reports on JNJ. Credit Suisse Group increased their target price on shares of Johnson & Johnson from $163.00 to $168.00 and gave the company an “outperform” rating in a research report on Wednesday, October 14th. ValuEngine upgraded shares of Johnson & Johnson from a “sell” rating to a “hold” rating in a research report on Monday, August 3rd. Raymond James restated a “buy” rating on shares of Johnson & Johnson in a research report on Friday. Stifel Nicolaus lowered shares of Johnson & Johnson from a “buy” rating to a “hold” rating in a research report on Wednesday, August 19th. Finally, Cantor Fitzgerald raised their price objective on shares of Johnson & Johnson from $168.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, October 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $164.93.
Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Sunday, October 18th. The company reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.22. The business had revenue of $21.08 billion during the quarter, compared to analyst estimates of $20.15 billion. Johnson & Johnson had a net margin of 21.01% and a return on equity of 34.64%. The firm’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.12 earnings per share. On average, analysts predict that Johnson & Johnson will post 7.99 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Tuesday, November 24th will be given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Monday, November 23rd. Johnson & Johnson’s dividend payout ratio (DPR) is 46.54%.
In related news, EVP Kathryn E. Wengel sold 16,115 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $153.52, for a total transaction of $2,473,974.80. Following the transaction, the executive vice president now owns 66,658 shares of the company’s stock, valued at $10,233,336.16. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.27% of the stock is currently owned by company insiders.
About Johnson & Johnson
Johnson & Johnson 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, DR.
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