United Bank Inc. cut its position in shares of Johnson & Johnson (NYSE:JNJ) by 3.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,299 shares of the company’s stock after selling 750 shares during the period. Johnson & Johnson comprises 1.0% of United Bank Inc.’s investment portfolio, making the stock its 24th largest position. United Bank Inc.’s holdings in Johnson & Johnson were worth $2,421,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Lenox Wealth Advisors Inc. increased its stake in Johnson & Johnson by 0.7% in the first quarter. Lenox Wealth Advisors Inc. now owns 871 shares of the company’s stock worth $108,000 after buying an additional 6 shares during the period. Thomas J. Herzfeld Advisors Inc. purchased a new position in shares of Johnson & Johnson during the fourth quarter valued at about $117,000. Empirical Finance LLC purchased a new position in shares of Johnson & Johnson during the fourth quarter valued at about $144,000. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Johnson & Johnson by 241.0% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,190 shares of the company’s stock valued at $149,000 after buying an additional 841 shares in the last quarter. Finally, Ullmann Financial Group Inc. purchased a new position in shares of Johnson & Johnson during the first quarter valued at about $186,000. Hedge funds and other institutional investors own 66.10% of the company’s stock.
Shares of Johnson & Johnson (NYSE JNJ) traded down 0.31% during mid-day trading on Friday, reaching $132.63. The company’s stock had a trading volume of 4,792,761 shares. The company has a 50 day moving average price of $132.88 and a 200 day moving average price of $127.04. The stock has a market capitalization of $355.98 billion, a P/E ratio of 22.44 and a beta of 0.78. Johnson & Johnson has a 12 month low of $109.32 and a 12 month high of $137.08.
Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, July 18th. The company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.04. The firm had revenue of $18.84 billion during the quarter, compared to analysts’ expectations of $18.94 billion. Johnson & Johnson had a net margin of 22.52% and a return on equity of 26.76%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.74 earnings per share. On average, equities research analysts anticipate that Johnson & Johnson will post $7.18 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Tuesday, August 29th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Friday, August 25th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 56.76%.
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JNJ has been the subject of several research reports. J P Morgan Chase & Co raised Johnson & Johnson from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $123.64 to $140.00 in a report on Monday, May 15th. UBS AG reissued a “buy” rating and issued a $148.00 price target (up from $136.00) on shares of Johnson & Johnson in a report on Wednesday, July 19th. Alembic Global Advisors cut Johnson & Johnson from a “neutral” rating to an “underweight” rating in a report on Friday, July 21st. Vetr cut Johnson & Johnson from a “buy” rating to a “hold” rating and set a $128.82 price target for the company. in a report on Monday, May 15th. Finally, BidaskClub raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $134.12.
In other news, VP Dominic J. Caruso sold 82,591 shares of Johnson & Johnson stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $136.72, for a total value of $11,291,841.52. Following the completion of the transaction, the vice president now owns 226,693 shares in the company, valued at $30,993,466.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paulus Stoffels sold 102,692 shares of Johnson & Johnson stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $133.14, for a total transaction of $13,672,412.88. Following the completion of the transaction, the vice president now owns 230,342 shares of the company’s stock, valued at approximately $30,667,733.88. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.
About Johnson & Johnson
Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. It operates through three segments: Consumer, Pharmaceutical and Medical Devices. Its primary focus is products related to human health and well-being.
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