Chesley Taft & Associates LLC lowered its stake in shares of Johnson & Johnson (NYSE:JNJ) by 0.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 203,610 shares of the company’s stock after selling 116 shares during the quarter. Johnson & Johnson comprises about 2.5% of Chesley Taft & Associates LLC’s holdings, making the stock its 5th largest position. Chesley Taft & Associates LLC’s holdings in Johnson & Johnson were worth $26,276,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Selective Wealth Management purchased a new stake in Johnson & Johnson in the 3rd quarter valued at approximately $105,000. Fusion Family Wealth LLC boosted its holdings in Johnson & Johnson by 621.4% in the 2nd quarter. Fusion Family Wealth LLC now owns 1,010 shares of the company’s stock valued at $123,000 after purchasing an additional 870 shares in the last quarter. Ifrah Financial Services Inc. purchased a new stake in Johnson & Johnson in the 3rd quarter valued at approximately $203,000. Exane Asset Management purchased a new stake in Johnson & Johnson in the 2nd quarter valued at approximately $206,000. Finally, Peak Capital Management LLC purchased a new stake in Johnson & Johnson in the 2nd quarter valued at approximately $207,000. 66.43% of the stock is currently owned by hedge funds and other institutional investors.
JNJ stock opened at $138.10 on Friday. Johnson & Johnson has a 12-month low of $118.62 and a 12-month high of $148.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.47 and a quick ratio of 1.20. The company has a market cap of $371.42 billion, a PE ratio of 16.88, a P/E/G ratio of 2.12 and a beta of 0.68.
Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, January 22nd. The company reported $1.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.95 by $0.02. Johnson & Johnson had a net margin of 18.75% and a return on equity of 35.63%. The company had revenue of $20.39 billion during the quarter, compared to the consensus estimate of $20.27 billion. During the same period last year, the firm earned $1.74 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, analysts forecast that Johnson & Johnson will post 8.57 earnings per share for the current year.
Johnson & Johnson announced that its board has initiated a share buyback plan on Monday, December 17th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 1.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 26th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Monday, February 25th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.61%. Johnson & Johnson’s payout ratio is 44.01%.
JNJ has been the topic of a number of analyst reports. ValuEngine raised Johnson & Johnson from a “hold” rating to a “buy” rating in a report on Thursday, December 13th. 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 lowered their price objective on Johnson & Johnson from $153.00 to $130.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 2nd. Barclays reaffirmed an “equal weight” rating and issued a $135.00 price objective (down previously from $137.00) on shares of Johnson & Johnson in a report on Wednesday, January 23rd. Finally, Citigroup lowered 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. Two analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. Johnson & Johnson presently has a consensus rating of “Hold” and a consensus price target of $142.81.
Johnson & Johnson Profile
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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