Johnson & Johnson (JNJ) Position Trimmed by Centre Asset Management LLC
Centre Asset Management LLC decreased its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 1.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 90,520 shares of the company’s stock after selling 1,020 shares during the quarter. Johnson & Johnson makes up approximately 3.1% of Centre Asset Management LLC’s portfolio, making the stock its 10th biggest position. Centre Asset Management LLC’s holdings in Johnson & Johnson were worth $11,769,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of JNJ. Curbstone Financial Management Corp lifted its stake in Johnson & Johnson by 99.1% in the third quarter. Curbstone Financial Management Corp now owns 30,400 shares of the company’s stock valued at $3,952,000 after buying an additional 15,134 shares during the last quarter. Bogart Wealth LLC lifted its stake in Johnson & Johnson by 6.7% in the second quarter. Bogart Wealth LLC now owns 6,006 shares of the company’s stock valued at $795,000 after buying an additional 378 shares during the last quarter. MPS Loria Financial Planners LLC purchased a new stake in Johnson & Johnson in the second quarter valued at approximately $1,415,000. W. E. Donoghue & Co. LLC purchased a new stake in Johnson & Johnson in the second quarter valued at approximately $16,120,000. Finally, Pinnacle Family Advisors LLC purchased a new stake in Johnson & Johnson in the second quarter valued at approximately $209,000. Hedge funds and other institutional investors own 65.70% of the company’s stock.
A number of brokerages have weighed in on JNJ. Zacks Investment Research cut Johnson & Johnson from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Citigroup began coverage on Johnson & Johnson in a research note on Monday, September 25th. They issued a “neutral” rating and a $140.00 price objective for the company. BMO Capital Markets reiterated a “positive” rating and issued a $152.00 price objective (up previously from $145.00) on shares of Johnson & Johnson in a research note on Wednesday, October 18th. Jefferies Group boosted their price objective on Johnson & Johnson from $157.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, October 16th. Finally, Royal Bank of Canada boosted their price objective on Johnson & Johnson from $144.00 to $147.00 and gave the company an “outperform” rating in a research note on Wednesday, October 18th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Johnson & Johnson has a consensus rating of “Hold” and a consensus price target of $145.04.
Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, October 17th. The company reported $1.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.80 by $0.10. The business had revenue of $19.65 billion for the quarter, compared to analyst estimates of $19.29 billion. Johnson & Johnson had a return on equity of 27.38% and a net margin of 21.28%. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.68 earnings per share. sell-side analysts forecast that Johnson & Johnson will post 7.28 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 12th. Stockholders of record on Tuesday, November 28th were issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Monday, November 27th. Johnson & Johnson’s payout ratio is currently 58.33%.
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About Johnson & Johnson
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. It operates through three segments: Consumer, Pharmaceutical and Medical Devices. Its primary focus is products related to human health and well-being.
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