Johnson & Johnson (JNJ) Position Cut by Synovus Financial Corp
Synovus Financial Corp lowered its stake in shares of Johnson & Johnson (NYSE:JNJ) by 1.0% during the third quarter, Holdings Channel reports. The institutional investor owned 268,130 shares of the company’s stock after selling 2,738 shares during the period. Johnson & Johnson accounts for approximately 0.7% of Synovus Financial Corp’s portfolio, making the stock its 21st largest position. Synovus Financial Corp’s holdings in Johnson & Johnson were worth $31,724,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the stock. Fundsmith LLP increased its stake in shares of Johnson & Johnson by 24.1% in the second quarter. Fundsmith LLP now owns 3,704,693 shares of the company’s stock valued at $449,379,000 after buying an additional 719,532 shares in the last quarter. Putnam FL Investment Management Co. increased its stake in shares of Johnson & Johnson by 213.8% in the third quarter. Putnam FL Investment Management Co. now owns 40,875 shares of the company’s stock valued at $4,829,000 after buying an additional 27,850 shares in the last quarter. Shelton Capital Management increased its stake in shares of Johnson & Johnson by 17.5% in the second quarter. Shelton Capital Management now owns 58,181 shares of the company’s stock valued at $7,057,000 after buying an additional 8,669 shares in the last quarter. State of New Jersey Common Pension Fund D increased its stake in shares of Johnson & Johnson by 2.5% in the third quarter. State of New Jersey Common Pension Fund D now owns 2,951,000 shares of the company’s stock valued at $348,602,000 after buying an additional 71,000 shares in the last quarter. Finally, Tesco Pension Investment Ltd acquired a new stake in shares of Johnson & Johnson during the third quarter valued at about $148,524,000. 64.05% of the stock is owned by institutional investors and hedge funds.
Shares of Johnson & Johnson (NYSE:JNJ) opened at 114.60 on Friday. Johnson & Johnson has a 12-month low of $94.28 and a 12-month high of $126.07. The firm has a market cap of $311.77 billion, a price-to-earnings ratio of 20.12 and a beta of 0.72. The firm has a 50-day moving average price of $114.47 and a 200-day moving average price of $118.28.
Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, October 18th. The company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. The company had revenue of $17.80 billion for the quarter, compared to analyst estimates of $17.71 billion. Johnson & Johnson had a return on equity of 25.30% and a net margin of 22.03%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.49 earnings per share. Equities research analysts anticipate that Johnson & Johnson will post $6.71 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 14th. Stockholders of record on Tuesday, February 28th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Friday, February 24th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.79%. Johnson & Johnson’s dividend payout ratio (DPR) is 56.64%.
Several equities research analysts recently issued reports on the company. Credit Suisse Group reissued a “neutral” rating and issued a $123.00 price objective on shares of Johnson & Johnson in a research note on Monday, September 19th. RBC Capital Markets reaffirmed a “buy” rating and issued a $133.00 target price on shares of Johnson & Johnson in a research report on Friday, January 6th. Vetr raised Johnson & Johnson from a “hold” rating to a “buy” rating and set a $121.63 target price 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. Finally, Societe Generale reaffirmed a “hold” rating and issued a $116.00 target price on shares of Johnson & Johnson in a research report on Sunday, October 23rd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $122.22.
In other news, Director Charles Prince purchased 875 shares of the business’s stock in a transaction dated Friday, October 21st. The shares were bought at an average cost of $114.11 per share, for a total transaction of $99,846.25. Following the completion of the acquisition, the director now directly owns 26,520 shares in the company, valued at approximately $3,026,197.20. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.11% of the stock is owned by insiders.
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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