Birch Hill Investment Advisors LLC decreased its position in shares of Johnson & Johnson (NYSE:JNJ) by 11.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 269,647 shares of the company’s stock after selling 35,551 shares during the period. Johnson & Johnson makes up 3.0% of Birch Hill Investment Advisors LLC’s portfolio, making the stock its 12th largest position. Birch Hill Investment Advisors LLC’s holdings in Johnson & Johnson were worth $31,853,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in JNJ. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Johnson & Johnson by 20.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,170,953 shares of the company’s stock worth $138,324,000 after buying an additional 196,100 shares during the period. Zacks Investment Management raised its stake in Johnson & Johnson by 7.4% in the third quarter. Zacks Investment Management now owns 621,739 shares of the company’s stock worth $73,446,000 after buying an additional 42,779 shares during the period. Geller Family Office Services LLC raised its stake in Johnson & Johnson by 5.9% in the third quarter. Geller Family Office Services LLC now owns 30,756 shares of the company’s stock worth $3,633,000 after buying an additional 1,701 shares during the period. Hartford Investment Management Co. raised its stake in Johnson & Johnson by 2.4% in the third quarter. Hartford Investment Management Co. now owns 711,437 shares of the company’s stock worth $84,042,000 after buying an additional 16,743 shares during the period. Finally, Commonwealth Bank of Australia raised its stake in Johnson & Johnson by 1.7% in the third quarter. Commonwealth Bank of Australia now owns 225,390 shares of the company’s stock worth $26,626,000 after buying an additional 3,700 shares during the period. 65.37% of the stock is owned by hedge funds and other institutional investors.
Johnson & Johnson (NYSE:JNJ) opened at 115.24 on Friday. The stock’s 50 day moving average price is $114.45 and its 200 day moving average price is $117.02. The company has a market capitalization of $313.51 billion, a P/E ratio of 19.43 and a beta of 0.74. Johnson & Johnson has a one year low of $101.65 and a one year high of $126.07.
Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, January 24th. The company reported $1.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.02. Johnson & Johnson had a return on equity of 25.61% and a net margin of 22.78%. The company earned $18.10 billion during the quarter, compared to analysts’ expectations of $18.28 billion. During the same quarter in the previous year, the business earned $1.44 EPS. Johnson & Johnson’s revenue was up 1.7% compared to the same quarter last year. Equities analysts anticipate that Johnson & Johnson will post $7.04 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 14th. Investors of record on Tuesday, February 28th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Friday, February 24th. Johnson & Johnson’s payout ratio is currently 54.42%.
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A number of analysts have recently weighed in on the company. Wells Fargo & Company lowered Johnson & Johnson from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $112.28 to $112.80 in a research note on Thursday, January 26th. RBC Capital Markets dropped their price objective on Johnson & Johnson from $133.00 to $128.00 and set an “outperform” rating for the company in a research note on Wednesday, January 25th. Royal Bank Of Canada dropped their price objective on Johnson & Johnson from $133.00 to $128.00 and set an “outperform” rating for the company in a research note on Wednesday, January 25th. Goldman Sachs Group, Inc. (The) dropped their price objective on Johnson & Johnson from $120.00 to $115.00 and set a “neutral” rating for the company in a research note on Wednesday, January 25th. Finally, Jefferies Group LLC increased their price objective on Johnson & Johnson from $110.00 to $120.00 and gave the company a “hold” rating in a research note on Friday, January 20th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the stock. Johnson & Johnson has an average rating of “Hold” and an average target price of $122.92.
Johnson & Johnson Company Profile
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. The Company’s segments include Consumer, Pharmaceutical and Medical Devices. The Consumer segment includes a range of products used in the baby care, oral care, skin care, over-the-counter pharmaceutical, women’s health and wound care markets.
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