Covington Capital Management decreased its position in Johnson & Johnson (NYSE:JNJ) by 0.6% during the third quarter, Holdings Channel reports. The fund owned 216,222 shares of the company’s stock after selling 1,340 shares during the period. Johnson & Johnson makes up approximately 2.4% of Covington Capital Management’s holdings, making the stock its 3rd largest position. Covington Capital Management’s holdings in Johnson & Johnson were worth $25,542,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Johnson & Johnson by 2.2% in the second quarter. Vanguard Group Inc. now owns 184,512,652 shares of the company’s stock worth $22,381,384,000 after buying an additional 3,924,090 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Johnson & Johnson by 1.8% in the second quarter. Legal & General Group Plc now owns 13,695,284 shares of the company’s stock worth $1,661,038,000 after buying an additional 246,022 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Johnson & Johnson by 2.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 10,245,658 shares of the company’s stock worth $1,242,925,000 after buying an additional 230,042 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Johnson & Johnson by 2.0% in the third quarter. Nordea Investment Management AB now owns 10,047,087 shares of the company’s stock worth $1,186,862,000 after buying an additional 196,968 shares during the last quarter. Finally, Swiss National Bank increased its stake in shares of Johnson & Johnson by 6.8% in the second quarter. Swiss National Bank now owns 8,508,464 shares of the company’s stock worth $1,032,077,000 after buying an additional 540,400 shares during the last quarter. 65.30% of the stock is currently owned by institutional investors and hedge funds.
Johnson & Johnson (NYSE:JNJ) opened at 115.24 on Monday. The company’s 50-day moving average price is $114.45 and its 200 day moving average price is $117.02. The stock has a market capitalization of $313.51 billion, a PE ratio of 19.43 and a beta of 0.74. Johnson & Johnson has a 12 month low of $101.65 and a 12 month high of $126.07.
Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, January 24th. The company reported $1.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.56 by $0.02. The business earned $18.10 billion during the quarter, compared to analysts’ expectations of $18.28 billion. Johnson & Johnson had a return on equity of 25.61% and a net margin of 22.78%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.44 EPS. On average, analysts forecast that Johnson & Johnson will post $7.04 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 14th. Stockholders of record on Tuesday, February 28th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, February 24th. This represents a $3.20 annualized dividend and a dividend yield of 2.78%. Johnson & Johnson’s dividend payout ratio is currently 54.42%.
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A number of equities research analysts recently weighed in on the company. Royal Bank Of Canada dropped their price objective on Johnson & Johnson from $133.00 to $128.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 25th. Vetr raised Johnson & Johnson from a “hold” rating to a “buy” rating and set a $121.63 price objective on the stock in a research report on Monday, January 9th. Zacks Investment Research raised Johnson & Johnson from a “sell” rating to a “hold” rating in a research report on Monday, January 9th. Goldman Sachs Group, Inc. (The) dropped their price objective on Johnson & Johnson from $120.00 to $115.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 25th. Finally, RBC Capital Markets dropped their price objective on Johnson & Johnson from $133.00 to $128.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 25th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target 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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