Sandy Spring Bank lifted its position in Johnson & Johnson (NYSE:JNJ) by 2.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 143,215 shares of the company’s stock after buying an additional 3,702 shares during the period. Johnson & Johnson makes up about 1.5% of Sandy Spring Bank’s investment portfolio, making the stock its 11th biggest position. Sandy Spring Bank’s holdings in Johnson & Johnson were worth $21,322,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in JNJ. Newfound Research LLC bought a new position in Johnson & Johnson in the 3rd quarter worth $28,000. Islay Capital Management LLC purchased a new position in shares of Johnson & Johnson during the second quarter valued at about $42,000. FAI Wealth Management grew its position in shares of Johnson & Johnson by 45.9% during the second quarter. FAI Wealth Management now owns 321 shares of the company’s stock valued at $45,000 after purchasing an additional 101 shares in the last quarter. SeaBridge Investment Advisors LLC grew its position in Johnson & Johnson by 160.0% in the second quarter. SeaBridge Investment Advisors LLC now owns 325 shares of the company’s stock worth $46,000 after acquiring an additional 200 shares in the last quarter. Finally, HWG Holdings LP purchased a new position in Johnson & Johnson in the second quarter worth about $49,000. 67.44% of the stock is currently owned by institutional investors.
JNJ has been the subject of several research analyst reports. Raymond James reaffirmed a “buy” rating on shares of Johnson & Johnson in a research note on Friday. ValuEngine raised Johnson & Johnson from a “sell” rating to a “hold” rating in a research report on Monday, August 3rd. Cantor Fitzgerald upped their price target on Johnson & Johnson from $168.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 14th. Credit Suisse Group boosted their price objective on shares of Johnson & Johnson from $163.00 to $168.00 and gave the company an “outperform” rating in a report on Wednesday, October 14th. Finally, Stifel Nicolaus lowered shares of Johnson & Johnson from a “buy” rating to a “hold” rating in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $164.93.
Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Sunday, October 18th. The company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.22. The firm had revenue of $21.08 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.12 earnings per share. On average, research analysts forecast that Johnson & Johnson will post 7.99 EPS for the current year.
The company also recently disclosed 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 of this dividend is Monday, November 23rd. Johnson & Johnson’s dividend payout ratio is presently 46.54%.
In related news, EVP Kathryn E. Wengel sold 16,115 shares of the company’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 completion of 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.27% of the company’s stock.
Johnson & Johnson Company Profile
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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