Cypress Capital Management LLC reduced its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 1.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 29,075 shares of the company’s stock after selling 351 shares during the period. Cypress Capital Management LLC’s holdings in Johnson & Johnson were worth $4,778,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. Cypress Point Wealth Management LLC bought a new stake in Johnson & Johnson during the 4th quarter valued at $25,000. Klaas Financial Asset Advisors LLC bought a new stake in Johnson & Johnson during the 4th quarter valued at $36,000. NuWave Investment Management LLC bought a new stake in Johnson & Johnson during the 1st quarter valued at $39,000. JCIC Asset Management Inc. raised its position in Johnson & Johnson by 950.0% during the 4th quarter. JCIC Asset Management Inc. now owns 315 shares of the company’s stock valued at $50,000 after purchasing an additional 285 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC raised its position in Johnson & Johnson by 47.4% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 588 shares of the company’s stock valued at $59,000 after purchasing an additional 189 shares in the last quarter. 66.74% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on JNJ. Credit Suisse Group set a $193.00 price target on Johnson & Johnson and gave the company a “buy” rating in a report on Monday. Morgan Stanley began coverage on Johnson & Johnson in a report on Friday, May 28th. They issued an “overweight” rating and a $187.00 price target on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $182.45.
Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Monday, April 19th. The company reported $2.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.34 by $0.25. The business had revenue of $22.30 billion for the quarter, compared to the consensus estimate of $22 billion. Johnson & Johnson had a return on equity of 34.62% and a net margin of 17.95%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.30 EPS. Sell-side analysts expect that Johnson & Johnson will post 9.51 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 8th. Stockholders of record on Tuesday, May 25th were issued a $1.06 dividend. This represents a $4.24 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Monday, May 24th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.01. Johnson & Johnson’s payout ratio is 52.80%.
Johnson & Johnson Profile
Johnson & Johnson researches and develops, manufactures, and sells a range of products in the health care field worldwide. It operates through three segments: Consumer Health, Pharmaceutical, and Medical Devices. The 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 AVEENO, CLEAN & CLEAR, DR.
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