Independence Bank of Kentucky cut its holdings in Johnson & Johnson (NYSE:JNJ) by 3.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,762 shares of the company’s stock after selling 820 shares during the period. Johnson & Johnson comprises about 2.3% of Independence Bank of Kentucky’s holdings, making the stock its 7th largest position. Independence Bank of Kentucky’s holdings in Johnson & Johnson were worth $2,869,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Financial Gravity Wealth Inc. purchased a new position in shares of Johnson & Johnson during the first quarter worth about $105,000. Selective Wealth Management purchased a new position in shares of Johnson & Johnson during the third quarter worth about $105,000. WP Advisors LLC purchased a new position in shares of Johnson & Johnson during the second quarter worth about $108,000. FNY Investment Advisers LLC purchased a new position in shares of Johnson & Johnson during the second quarter worth about $117,000. Finally, Fusion Family Wealth LLC grew its holdings in shares of Johnson & Johnson by 621.4% during the second quarter. Fusion Family Wealth LLC now owns 1,010 shares of the company’s stock worth $123,000 after purchasing an additional 870 shares during the last quarter. Institutional investors own 66.23% of the company’s stock.
In other Johnson & Johnson news, VP Peter Fasolo sold 166,695 shares of Johnson & Johnson stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $146.41, for a total value of $24,405,814.95. Following the sale, the vice president now owns 155,540 shares of the company’s stock, valued at approximately $22,772,611.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles Prince acquired 2,000 shares of the stock in a transaction on Friday, December 14th. The stock was acquired at an average cost of $134.37 per share, for a total transaction of $268,740.00. Following the acquisition, the director now directly owns 28,520 shares in the company, valued at approximately $3,832,232.40. The disclosure for this purchase can be found here. Insiders sold a total of 514,187 shares of company stock worth $74,951,528 in the last ninety days. 0.22% of the stock is owned by corporate insiders.
Several equities analysts have issued reports on JNJ shares. Citigroup dropped their price objective on Johnson & Johnson from $148.00 to $139.00 and set a “neutral” rating on the stock in a report on Wednesday, January 2nd. Zacks Investment Research raised Johnson & Johnson from a “hold” rating to a “buy” rating and set a $164.00 price objective on the stock in a report on Wednesday, December 12th. Morgan Stanley set a $140.00 price objective on Johnson & Johnson and gave the stock a “hold” rating in a report on Thursday, December 20th. Wells Fargo & Co reissued an “outperform” rating and set a $160.00 price target (up previously from $155.00) on shares of Johnson & Johnson in a report on Wednesday, October 17th. Finally, Credit Suisse Group raised their price target on Johnson & Johnson from $149.00 to $152.00 and gave the stock an “outperform” rating in a report on Wednesday, October 17th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. Johnson & Johnson currently has an average rating of “Hold” and a consensus price target of $140.89.
NYSE JNJ opened at $129.75 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.40 and a current ratio of 1.72. Johnson & Johnson has a 52-week low of $118.62 and a 52-week high of $148.99. The stock has a market cap of $345.91 billion, a P/E ratio of 17.77, a P/E/G ratio of 1.90 and a beta of 0.72.
Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, October 16th. The company reported $2.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.03 by $0.02. Johnson & Johnson had a return on equity of 34.62% and a net margin of 1.89%. The firm had revenue of $20.35 billion for the quarter, compared to analyst estimates of $20.05 billion. During the same quarter last year, the company posted $1.90 earnings per share. The business’s revenue was up 3.6% on a year-over-year basis. Analysts predict that Johnson & Johnson will post 8.16 earnings per share for the current fiscal year.
Johnson & Johnson announced that its Board of Directors has authorized a share buyback plan on Monday, December 17th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 1.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 12th. Shareholders of record on Tuesday, February 26th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Monday, February 25th. Johnson & Johnson’s dividend payout ratio is presently 49.32%.
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Johnson & Johnson Company Profile
Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment includes products used in the baby care, oral care, beauty, over-the-counter pharmaceutical, women’s health, and wound care markets.
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