Trinity Legacy Partners LLC trimmed its holdings in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 1.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,496 shares of the company’s stock after selling 358 shares during the period. Johnson & Johnson accounts for approximately 2.1% of Trinity Legacy Partners LLC’s holdings, making the stock its 11th largest holding. Trinity Legacy Partners LLC’s holdings in Johnson & Johnson were worth $5,439,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mmbg Investment Advisors CO. acquired a new stake in shares of Johnson & Johnson in the fourth quarter valued at about $996,000. Unigestion Holding SA boosted its holdings in shares of Johnson & Johnson by 7.5% during the fourth quarter. Unigestion Holding SA now owns 253,012 shares of the company’s stock worth $43,273,000 after acquiring an additional 17,653 shares during the period. Jag Capital Management LLC boosted its stake in shares of Johnson & Johnson by 1.4% in the fourth quarter. Jag Capital Management LLC now owns 4,515 shares of the company’s stock valued at $772,000 after buying an additional 61 shares during the period. IHT Wealth Management LLC boosted its stake in shares of Johnson & Johnson by 2.9% in the fourth quarter. IHT Wealth Management LLC now owns 20,744 shares of the company’s stock valued at $3,549,000 after buying an additional 587 shares during the period. Finally, LPL Financial LLC lifted its stake in Johnson & Johnson by 3.9% during the fourth quarter. LPL Financial LLC now owns 2,091,108 shares of the company’s stock worth $357,726,000 after purchasing an additional 78,540 shares during the last quarter. 68.59% of the stock is owned by institutional investors and hedge funds.
Johnson & Johnson Price Performance
Shares of NYSE JNJ opened at $166.18 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.17 and a current ratio of 1.42. The stock has a market cap of $436.92 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 2.95 and a beta of 0.61. Johnson & Johnson has a fifty-two week low of $155.72 and a fifty-two week high of $186.69. The firm’s 50-day simple moving average is $168.06 and its 200 day simple moving average is $174.12.
Johnson & Johnson declared that its board has authorized a share repurchase plan on Wednesday, September 14th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to purchase up to 1.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
Johnson & Johnson Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd were paid a $1.13 dividend. The ex-dividend date was Monday, August 22nd. This represents a $4.52 dividend on an annualized basis and a yield of 2.72%. Johnson & Johnson’s dividend payout ratio is 65.79%.
Analyst Ratings Changes
A number of research firms recently weighed in on JNJ. UBS Group decreased their price objective on Johnson & Johnson from $185.00 to $180.00 in a report on Thursday, July 21st. Daiwa Capital Markets assumed coverage on shares of Johnson & Johnson in a research report on Wednesday, June 22nd. They set an “outperform” rating on the stock. Morgan Stanley cut their price objective on shares of Johnson & Johnson from $174.00 to $173.00 and set an “equal weight” rating on the stock in a research report on Monday, September 12th. Citigroup cut their price objective on shares of Johnson & Johnson from $205.00 to $201.00 in a research report on Wednesday, July 20th. Finally, Wells Fargo & Company increased their price objective on shares of Johnson & Johnson from $190.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 13th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $189.78.
About Johnson & Johnson
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.
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