Eastern Bank lifted its stake in Johnson & Johnson (NYSE:JNJ – Free Report) by 772.3% in the third quarter, Holdings Channel.com reports. The firm owned 130,431 shares of the company’s stock after acquiring an additional 115,478 shares during the quarter. Eastern Bank’s holdings in Johnson & Johnson were worth $21,138,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in JNJ. Meridian Financial Partners LLC acquired a new position in Johnson & Johnson in the 2nd quarter worth about $1,626,000. Summit Financial Wealth Advisors LLC increased its holdings in Johnson & Johnson by 26.3% in the first quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock worth $853,000 after buying an additional 1,122 shares during the last quarter. Franklin Parlapiano Turner & Welch LLC raised its position in Johnson & Johnson by 0.7% during the first quarter. Franklin Parlapiano Turner & Welch LLC now owns 47,186 shares of the company’s stock valued at $7,464,000 after acquiring an additional 325 shares in the last quarter. Capital Asset Advisory Services LLC grew its position in Johnson & Johnson by 8.8% in the first quarter. Capital Asset Advisory Services LLC now owns 26,539 shares of the company’s stock worth $4,044,000 after acquiring an additional 2,151 shares in the last quarter. Finally, NTV Asset Management LLC increased its stake in shares of Johnson & Johnson by 1.6% during the 1st quarter. NTV Asset Management LLC now owns 36,000 shares of the company’s stock worth $5,695,000 after purchasing an additional 565 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Johnson & Johnson
In related news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is currently owned by insiders.
Johnson & Johnson Stock Performance
Johnson & Johnson (NYSE:JNJ – Get Free Report) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. During the same quarter in the previous year, the firm posted $2.66 EPS. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. Sell-side analysts forecast that Johnson & Johnson will post 10 EPS for the current year.
Johnson & Johnson Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s payout ratio is 30.92%.
Analyst Ratings Changes
JNJ has been the subject of a number of recent research reports. Daiwa America cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. TD Cowen decreased their price target on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Sanford C. Bernstein boosted their target price on shares of Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Finally, Wells Fargo & Company boosted their price objective on Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $175.93.
Johnson & Johnson Company Profile
Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.
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