CIBC Private Wealth Group LLC lessened its stake in Johnson & Johnson (NYSE:JNJ) by 29.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,131,194 shares of the company’s stock after selling 897,993 shares during the period. Johnson & Johnson accounts for approximately 0.9% of CIBC Private Wealth Group LLC’s investment portfolio, making the stock its 25th largest holding. CIBC Private Wealth Group LLC owned about 0.08% of Johnson & Johnson worth $350,262,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp grew its stake in Johnson & Johnson by 2.5% in the first quarter. Fifth Third Bancorp now owns 1,430,742 shares of the company’s stock valued at $235,142,000 after purchasing an additional 35,299 shares during the last quarter. Essex Investment Management Co. LLC grew its stake in Johnson & Johnson by 95.5% in the fourth quarter. Essex Investment Management Co. LLC now owns 481 shares of the company’s stock valued at $76,000 after purchasing an additional 235 shares during the last quarter. British Airways Pensions Investment Management Ltd grew its stake in shares of Johnson & Johnson by 15.9% during the first quarter. British Airways Pensions Investment Management Ltd now owns 205,847 shares of the company’s stock worth $33,831,000 after acquiring an additional 28,175 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Johnson & Johnson by 58.0% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 991,588 shares of the company’s stock worth $162,967,000 after acquiring an additional 364,145 shares during the last quarter. Finally, WASHINGTON TRUST Co grew its stake in shares of Johnson & Johnson by 0.4% during the first quarter. WASHINGTON TRUST Co now owns 182,744 shares of the company’s stock worth $30,033,000 after acquiring an additional 810 shares during the last quarter. Institutional investors own 66.74% of the company’s stock.
A number of equities research analysts have recently weighed in on JNJ shares. Morgan Stanley started coverage on Johnson & Johnson in a research note on Friday, May 28th. They set an “overweight” rating and a $187.00 price target on the stock. Credit Suisse Group set a $193.00 price target on Johnson & Johnson and gave the stock a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. Johnson & Johnson currently has an average rating of “Buy” and a consensus target price of $182.45.
Johnson & Johnson (NYSE:JNJ) last released its earnings results on Monday, April 19th. The company reported $2.59 EPS for the quarter, topping the Zacks’ consensus estimate of $2.34 by $0.25. Johnson & Johnson had a return on equity of 34.62% and a net margin of 17.95%. The firm had revenue of $22.30 billion during the quarter, compared to the consensus estimate of $22 billion. During the same quarter in the previous year, the company posted $2.30 earnings per share. The company’s revenue was up 7.8% compared to the same quarter last year. On average, research analysts predict that Johnson & Johnson will post 9.51 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 8th. Shareholders of record on Tuesday, May 25th were issued a $1.06 dividend. The ex-dividend date was Monday, May 24th. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.01. This represents a $4.24 dividend on an annualized basis and a yield of 2.56%. Johnson & Johnson’s payout ratio is presently 52.80%.
About Johnson & Johnson
Johnson & Johnson researches and develops, manufactures, and sells a range of products in the health care field worldwide. It operates through three segments: Consumer Health, Pharmaceutical, and Medical Devices. The 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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