North Star Asset Management Inc. Reduces Stake in Johnson & Johnson (JNJ)
North Star Asset Management Inc. cut its position in Johnson & Johnson (NYSE:JNJ) by 1.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,594 shares of the company’s stock after selling 720 shares during the period. North Star Asset Management Inc.’s holdings in Johnson & Johnson were worth $4,807,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. Cheviot Value Management LLC raised its stake in Johnson & Johnson by 3.1% in the fourth quarter. Cheviot Value Management LLC now owns 107,813 shares of the company’s stock worth $12,421,000 after buying an additional 3,245 shares in the last quarter. Glassman Wealth Services raised its stake in Johnson & Johnson by 29.9% in the fourth quarter. Glassman Wealth Services now owns 8,746 shares of the company’s stock worth $1,008,000 after buying an additional 2,014 shares in the last quarter. Moloney Securities Asset Management LLC purchased a new stake in Johnson & Johnson during the fourth quarter worth about $4,780,000. Intellectus Partners LLC purchased a new stake in Johnson & Johnson during the fourth quarter worth about $1,778,000. Finally, Fiera Capital Corp raised its stake in Johnson & Johnson by 16.9% in the fourth quarter. Fiera Capital Corp now owns 4,249,504 shares of the company’s stock worth $489,585,000 after buying an additional 615,219 shares in the last quarter. Institutional investors and hedge funds own 66.10% of the company’s stock.
Johnson & Johnson (NYSE JNJ) traded up 0.13% during mid-day trading on Tuesday, reaching $133.66. 829,150 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $133.01 and a 200-day moving average price of $126.66. Johnson & Johnson has a 1-year low of $109.32 and a 1-year high of $137.08. The stock has a market cap of $358.74 billion, a P/E ratio of 22.62 and a beta of 0.78.
Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, July 18th. The company reported $1.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.79 by $0.04. Johnson & Johnson had a net margin of 22.52% and a return on equity of 26.76%. The company had revenue of $18.84 billion for the quarter, compared to the consensus estimate of $18.94 billion. During the same period last year, the company earned $1.74 earnings per share. The firm’s revenue was up 1.9% compared to the same quarter last year. Equities research analysts anticipate that Johnson & Johnson will post $7.18 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Tuesday, August 29th will be issued a $0.84 dividend. The ex-dividend date is Friday, August 25th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.52%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 56.76%.
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A number of equities research analysts have recently issued reports on the stock. Credit Suisse Group restated a “buy” rating on shares of Johnson & Johnson in a report on Friday, August 4th. Vetr lowered shares of Johnson & Johnson from a “buy” rating to a “hold” rating and set a $128.90 price target on the stock. in a report on Monday, May 8th. Alembic Global Advisors lowered shares of Johnson & Johnson from a “neutral” rating to an “underweight” rating in a report on Friday, July 21st. Wells Fargo & Company restated a “market perform” rating and set a $135.00 price target (up previously from $132.00) on shares of Johnson & Johnson in a report on Thursday, July 6th. Finally, UBS AG restated a “buy” rating and set a $136.00 price target on shares of Johnson & Johnson in a report on Monday, May 15th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $133.72.
In other news, VP Paulus Stoffels sold 102,692 shares of Johnson & Johnson stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $133.14, for a total value of $13,672,412.88. Following the sale, the vice president now directly owns 230,342 shares in the company, valued at $30,667,733.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Dominic J. Caruso sold 82,591 shares of Johnson & Johnson stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $136.72, for a total transaction of $11,291,841.52. Following the completion of the sale, the vice president now owns 226,693 shares in the company, valued at $30,993,466.96. The disclosure for this sale can be found here. 0.19% of the stock is owned by company 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. 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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