Vanguard Capital Wealth Advisors Takes Position in Johnson & Johnson (JNJ)
Vanguard Capital Wealth Advisors acquired a new position in shares of Johnson & Johnson (NYSE:JNJ) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,008 shares of the company’s stock, valued at approximately $277,000.
Other institutional investors have also recently bought and sold shares of the company. Selective Wealth Management acquired a new stake in shares of Johnson & Johnson in the third quarter valued at about $105,000. WP Advisors LLC acquired a new stake in shares of Johnson & Johnson in the second quarter valued at about $108,000. FNY Investment Advisers LLC acquired a new stake in shares of Johnson & Johnson in the second quarter valued at about $117,000. Fusion Family Wealth LLC increased its stake in shares of Johnson & Johnson by 621.4% in the second quarter. Fusion Family Wealth LLC now owns 1,010 shares of the company’s stock valued at $123,000 after buying an additional 870 shares during the period. Finally, Live Your Vision LLC increased its stake in shares of Johnson & Johnson by 58.3% in the second quarter. Live Your Vision LLC now owns 1,363 shares of the company’s stock valued at $172,000 after buying an additional 502 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.
In other news, CAO Ronald A. Kapusta sold 3,643 shares of the firm’s stock in a transaction that occurred on Thursday, December 13th. The stock was sold at an average price of $147.31, for a total value of $536,650.33. Following the transaction, the chief accounting officer now owns 13,641 shares in the company, valued at $2,009,455.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Alex Gorsky sold 264,465 shares of the firm’s stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $145.96, for a total value of $38,601,311.40. Following the completion of the transaction, the chief executive officer now owns 481,254 shares in the company, valued at approximately $70,243,833.84. The disclosure for this sale can be found here. Insiders sold 514,187 shares of company stock worth $74,951,528 in the last 90 days. Corporate insiders own 0.22% of the company’s stock.
Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, October 16th. The company reported $2.05 EPS for the quarter, topping the consensus estimate of $2.03 by $0.02. Johnson & Johnson had a return on equity of 34.62% and a net margin of 1.89%. The business had revenue of $20.35 billion during the quarter, compared to analysts’ expectations of $20.05 billion. During the same quarter last year, the firm posted $1.90 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis. As a group, research analysts predict that Johnson & Johnson will post 8.16 EPS for the current fiscal year.
Johnson & Johnson declared that its board has authorized a share buyback plan on Monday, December 17th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 1.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 26th will be issued a $0.90 dividend. The ex-dividend date is Monday, February 25th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.78%. Johnson & Johnson’s dividend payout ratio is presently 49.32%.
Several equities research analysts have recently weighed in on the company. Wells Fargo & Co reissued an “outperform” rating and issued a $152.00 price target (down previously from $162.00) on shares of Johnson & Johnson in a research note on Monday. Zacks Investment Research cut Johnson & Johnson from a “hold” rating to a “sell” rating in a research note on Tuesday, January 8th. Morgan Stanley decreased their price target on Johnson & Johnson from $153.00 to $130.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 2nd. Citigroup decreased their price target on Johnson & Johnson from $148.00 to $139.00 and set a “neutral” rating for the company in a research note on Wednesday, January 2nd. Finally, ValuEngine raised Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Thursday, December 13th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $140.27.
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About Johnson & Johnson
Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment includes products used in the baby care, oral care, beauty, over-the-counter pharmaceutical, women’s health, and wound care markets.
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