Eliot Finkel Investment Counsel LLC lowered its position in shares of Johnson & Johnson (NYSE:JNJ) by 0.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,577 shares of the company’s stock after selling 180 shares during the quarter. Johnson & Johnson accounts for about 3.2% of Eliot Finkel Investment Counsel LLC’s investment portfolio, making the stock its 14th largest position. Eliot Finkel Investment Counsel LLC’s holdings in Johnson & Johnson were worth $4,955,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in JNJ. Evolution Wealth Advisors LLC purchased a new stake in Johnson & Johnson in the 4th quarter valued at about $40,000. Thor Advisors LLC bought a new position in Johnson & Johnson during the 1st quarter worth about $69,000. Personal Wealth Partners purchased a new position in Johnson & Johnson during the 2nd quarter valued at about $73,000. Quattro Financial Advisors LLC bought a new stake in shares of Johnson & Johnson in the 2nd quarter valued at about $92,000. Finally, Financial Gravity Wealth Inc. lifted its position in shares of Johnson & Johnson by 36.9% in the 2nd quarter. Financial Gravity Wealth Inc. now owns 809 shares of the company’s stock worth $113,000 after purchasing an additional 218 shares during the period. 72.12% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently commented on JNJ. Royal Bank of Canada reissued a “buy” rating on shares of Johnson & Johnson in a research report on Tuesday, July 16th. Zacks Investment Research lowered Johnson & Johnson from a “buy” rating to a “hold” rating and set a $139.00 price target on the stock. in a research note on Thursday, July 18th. Bank of America reissued a “hold” rating and set a $150.00 target price on shares of Johnson & Johnson in a research report on Tuesday, July 16th. Goldman Sachs Group set a $169.00 price objective on shares of Johnson & Johnson and gave the company a “buy” rating in a report on Tuesday, August 27th. Finally, Credit Suisse Group set a $156.00 target price on Johnson & Johnson and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $150.60.
Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, July 16th. The company reported $2.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.42 by $0.16. Johnson & Johnson had a net margin of 20.08% and a return on equity of 38.63%. The firm had revenue of $20.56 billion for the quarter, compared to the consensus estimate of $20.39 billion. During the same period in the prior year, the firm posted $2.10 earnings per share. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. Equities analysts expect that Johnson & Johnson will post 8.6 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were given a dividend of $0.95 per share. The ex-dividend date was Monday, August 26th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.93%. Johnson & Johnson’s dividend payout ratio (DPR) is 46.45%.
About Johnson & Johnson
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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