Johnson & Johnson (NYSE:JNJ) Shares Acquired by Sugarloaf Wealth Management LLC

Sugarloaf Wealth Management LLC boosted its holdings in Johnson & Johnson (NYSE:JNJGet Rating) by 2.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,890 shares of the company’s stock after acquiring an additional 120 shares during the period. Sugarloaf Wealth Management LLC’s holdings in Johnson & Johnson were worth $1,046,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Johnson & Johnson during the fourth quarter worth about $4,172,929,000. BlackRock Inc. boosted its position in shares of Johnson & Johnson by 2.6% during the 4th quarter. BlackRock Inc. now owns 200,021,352 shares of the company’s stock worth $34,217,654,000 after purchasing an additional 4,982,885 shares during the period. GQG Partners LLC increased its holdings in Johnson & Johnson by 1,109.4% in the 4th quarter. GQG Partners LLC now owns 3,954,383 shares of the company’s stock valued at $676,375,000 after purchasing an additional 3,627,424 shares during the last quarter. Vanguard Group Inc. raised its position in Johnson & Johnson by 1.4% in the first quarter. Vanguard Group Inc. now owns 238,141,110 shares of the company’s stock valued at $42,205,749,000 after purchasing an additional 3,358,478 shares during the period. Finally, State Street Corp lifted its stake in Johnson & Johnson by 1.8% during the fourth quarter. State Street Corp now owns 144,677,639 shares of the company’s stock worth $24,750,004,000 after purchasing an additional 2,492,359 shares in the last quarter. 68.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on JNJ. UBS Group dropped their price objective on Johnson & Johnson from $185.00 to $180.00 in a research note on Thursday, July 21st. Daiwa Capital Markets began coverage on shares of Johnson & Johnson in a research note on Wednesday, June 22nd. They set an “outperform” rating on the stock. Wells Fargo & Company raised their price objective on shares of Johnson & Johnson from $190.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, July 13th. Citigroup reduced their target price on shares of Johnson & Johnson from $205.00 to $201.00 in a report on Wednesday, July 20th. Finally, SVB Leerink decreased their price target on shares of Johnson & Johnson from $200.00 to $194.00 in a research report on Wednesday, July 20th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $189.78.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $163.28 on Thursday. The stock has a market cap of $429.29 billion, a P/E ratio of 23.77, a price-to-earnings-growth ratio of 2.97 and a beta of 0.61. The company has a fifty day simple moving average of $168.25 and a 200-day simple moving average of $174.16. Johnson & Johnson has a 12-month low of $155.72 and a 12-month high of $186.69. The company has a current ratio of 1.42, a quick ratio of 1.17 and a debt-to-equity ratio of 0.37.

Johnson & Johnson (NYSE:JNJGet Rating) last released its quarterly earnings data on Tuesday, July 19th. The company reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.02. The business had revenue of $24.02 billion during the quarter, compared to analysts’ expectations of $23.85 billion. Johnson & Johnson had a net margin of 19.21% and a return on equity of 36.14%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.48 EPS. Equities analysts expect that Johnson & Johnson will post 10.7 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 23rd were given a dividend of $1.13 per share. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $4.52 annualized dividend and a dividend yield of 2.77%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 65.79%.

Johnson & Johnson announced that its board has initiated a stock buyback program on Wednesday, September 14th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to repurchase up to 1.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Johnson & Johnson Company Profile

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Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment offers baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.

Further Reading

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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