Marathon Asset Management Ltd reduced its stake in the shares of Johnson & Johnson (NYSE:JNJ – Get a rating) by 7.6% in the first quarter, Participation channel reports. The company held 843,792 shares of the company after selling 69,181 shares during the period. Johnson & Johnson accounts for about 2.0% of Marathon Asset Management Ltd’s holdings, making the stock its 8th largest position. Marathon Asset Management Ltd’s holdings in Johnson & Johnson were worth $149,545,000 when it last filed with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently changed their holdings in the company. Family CFO Inc bought a new stake in Johnson & Johnson in the fourth quarter worth about $26,000. Steward Financial Group LLC purchased a new stake in Johnson & Johnson in the fourth quarter worth approximately $34,000. Joseph P. Lucia & Associates LLC purchased a new stake in Johnson & Johnson in the first quarter worth approximately $38,000. Advocacy Wealth Management Services LLC increased its stake in Johnson & Johnson by 41.4% in the first quarter. Advocacy Wealth Management Services LLC now owns 229 shares of the company worth $41,000 after acquiring 67 additional shares during the period. Finally, Iron Horse Wealth Management LLC increased its stake in Johnson & Johnson by 29.9% in the fourth quarter. Iron Horse Wealth Management LLC now owns 265 shares of the company worth $45,000 after acquiring 61 additional shares during the period. 68.78% of the shares are held by hedge funds and other institutional investors.
A number of analysts have weighed in on the stock recently. Daiwa Capital Markets assumed coverage for Johnson & Johnson shares in a Wednesday, June 22 research note. They gave the company an “outperform” rating. Citigroup cut its price target on Johnson & Johnson shares from $210.00 to $205.00 in a Tuesday, May 17 research report. Goldman Sachs Group raised its price target on Johnson & Johnson shares from $163.00 to $181.00 and gave the company a “neutral” rating in a Tuesday, April 12 research report. Credit Suisse Group raised its price target on Johnson & Johnson shares from $200.00 to $205.00 and gave the company an “outperform” rating in a Wednesday, April 20 research report. To finish, StockNews.com moved Johnson & Johnson shares from a “buy” rating to a “strong buy” rating in a Tuesday, May 17 research report. Four equity research analysts gave the stock a hold rating, six gave the stock a buy rating and one gave the stock a strong buy rating. Based on data from MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and an average price target of $190.67.
In related news, insider William Haiti sold 29,699 shares in a trade that took place on Thursday, April 21. The shares were sold at an average price of $183.58, for a total value of $5,452,142.42. Following the transaction, the insider now owns 80,236 shares of the company, valued at approximately $14,729,724.88. The sale was disclosed in a filing with the SEC, which is available via this link. Also, CAD Robert J. Decker sold 8,462 shares in a trade that took place on Thursday, May 26. The stock was sold at an average price of $180.00, for a total transaction of $1,523,160.00. Following completion of the transaction, the chief accounting officer now owns 15,473 shares of the company, valued at approximately $2,785,140. Disclosure of this sale can be found here. During the last quarter, insiders sold 78,161 shares of the company worth $13,895,302. 0.35% of the shares are held by insiders.
JNJ opened at $178.28 on Friday. Johnson & Johnson has a 52-week low of $155.72 and a 52-week high of $186.69. The company has a quick ratio of 1.14, a current ratio of 1.39 and a debt ratio of 0.39. The company has a market capitalization of $469.13 billion, a P/E ratio of 24.03, a price-to-earnings growth ratio of 3.53 and a beta of 0.63. The company’s 50-day moving average price is $176.89 and its 200-day moving average price is $174.10.
Johnson & Johnson (NYSE:JNJ – Get a rating) last released its quarterly earnings data on Tuesday, April 19. The company reported earnings per share (EPS) of $2.67 for the quarter, beating the consensus estimate of $2.60 by $0.07. Johnson & Johnson had a net margin of 20.90% and a return on equity of 36.59%. The company posted revenue of $23.43 billion for the quarter, versus a consensus estimate of $23.62 billion. In the same quarter a year earlier, the company posted earnings per share of $2.59. The Company’s revenue for the quarter increased 5.0% compared to the same quarter last year. On average, research analysts expect Johnson & Johnson to post EPS of 10.23 for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 7. Investors of record on Tuesday, May 24 received a dividend of $1.13. This represents an annualized dividend of $4.52 and a yield of 2.54%. The ex-dividend date was Monday, May 23. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.06. Johnson & Johnson’s dividend payout ratio is 60.92%.
About Johnson & Johnson (Get a rating)
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures and sells various healthcare products worldwide. The Company’s Consumer Health segment offers baby care products under the JOHNSON’S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the brands AVEENO, CLEAN & CLEAR, DR.
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