Burke & Herbert Bank & Trust Co. reduced its stake in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 18.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 22,909 shares of the company’s stock after selling 5,164 shares during the quarter. Johnson & Johnson accounts for approximately 2.9% of Burke & Herbert Bank & Trust Co.’s investment portfolio, making the stock its 6th biggest holding. Burke & Herbert Bank & Trust Co.’s holdings in Johnson & Johnson were worth $3,568,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. lifted its stake in shares of Johnson & Johnson by 1.4% during the first quarter. BlackRock Inc. now owns 201,491,567 shares of the company’s stock worth $31,231,193,000 after buying an additional 2,688,798 shares during the period. State Street Corp lifted its stake in shares of Johnson & Johnson by 1.1% during the second quarter. State Street Corp now owns 141,833,756 shares of the company’s stock worth $23,476,323,000 after buying an additional 1,568,633 shares during the period. Moneta Group Investment Advisors LLC raised its holdings in shares of Johnson & Johnson by 90,144.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 54,386,720 shares of the company’s stock worth $9,607,414,000 after purchasing an additional 54,326,454 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Johnson & Johnson by 2.0% during the second quarter. Geode Capital Management LLC now owns 49,697,798 shares of the company’s stock worth $8,203,608,000 after purchasing an additional 990,298 shares during the last quarter. Finally, Morgan Stanley raised its holdings in shares of Johnson & Johnson by 12.0% during the fourth quarter. Morgan Stanley now owns 42,224,521 shares of the company’s stock worth $7,458,962,000 after purchasing an additional 4,521,062 shares during the last quarter. 68.40% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages recently issued reports on JNJ. Cantor Fitzgerald reissued an “overweight” rating on shares of Johnson & Johnson in a report on Monday, December 18th. Wells Fargo & Company cut shares of Johnson & Johnson from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $170.00 to $163.00 in a report on Wednesday, December 13th. TheStreet cut shares of Johnson & Johnson from a “b” rating to a “c+” rating in a report on Friday, November 17th. Royal Bank of Canada reissued an “outperform” rating and set a $178.00 target price on shares of Johnson & Johnson in a report on Friday, December 1st. Finally, Raymond James cut their price objective on shares of Johnson & Johnson from $179.00 to $172.00 and set an “outperform” rating for the company in a report on Wednesday, October 18th. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus target price of $168.75.
Read Our Latest Stock Report on JNJ
Johnson & Johnson Stock Up 0.2 %
Shares of NYSE JNJ opened at $156.61 on Friday. The company’s 50-day simple moving average is $152.48 and its 200-day simple moving average is $159.60. Johnson & Johnson has a 52-week low of $144.95 and a 52-week high of $180.93. The firm has a market cap of $377.00 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 3.20 and a beta of 0.57. The company has a quick ratio of 0.96, a current ratio of 1.21 and a debt-to-equity ratio of 0.37.
Johnson & Johnson (NYSE:JNJ – Get Free Report) last announced its earnings results on Tuesday, October 17th. The company reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.14. Johnson & Johnson had a net margin of 36.32% and a return on equity of 37.14%. The business had revenue of $21.35 billion for the quarter, compared to analyst estimates of $21 billion. Equities analysts predict that Johnson & Johnson will post 9.96 EPS for the current fiscal year.
Johnson & Johnson Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 21st were given a $1.19 dividend. The ex-dividend date of this dividend was Monday, November 20th. This represents a $4.76 annualized dividend and a dividend yield of 3.04%. Johnson & Johnson’s dividend payout ratio (DPR) is 35.34%.
Johnson & Johnson Profile
Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company’s Consumer Health segment provides skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR. CI:LABO, NEUTROGENA, and OGX brands; baby care products under the JOHNSON’S and AVEENO Baby brands; oral care products under the LISTERINE brand; TYLENOL acetaminophen products; SUDAFED cold, flu, and allergy products; BENADRYL and ZYRTEC allergy products; MOTRIN IB ibuprofen products; NICORETTE smoking cessation products; and PEPCID acid reflux products.
Further Reading
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ABMN Staff
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