Granite Investment Partners LLC Decreases Holdings in Johnson & Johnson (JNJ)
Granite Investment Partners LLC reduced its position in shares of Johnson & Johnson (NYSE:JNJ) by 1.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 82,262 shares of the company’s stock after selling 813 shares during the quarter. Granite Investment Partners LLC’s holdings in Johnson & Johnson were worth $10,882,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Lenox Wealth Advisors Inc. boosted its stake in shares of Johnson & Johnson by 0.6% during the 2nd quarter. Lenox Wealth Advisors Inc. now owns 876 shares of the company’s stock worth $116,000 after acquiring an additional 5 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Johnson & Johnson by 241.0% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,190 shares of the company’s stock worth $149,000 after acquiring an additional 841 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new stake in shares of Johnson & Johnson during the 2nd quarter worth $177,000. Ullmann Financial Group Inc. bought a new stake in shares of Johnson & Johnson during the 1st quarter worth $186,000. Finally, Puplava Financial Services Inc. bought a new stake in shares of Johnson & Johnson during the 2nd quarter worth $202,000. 65.61% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on JNJ. J P Morgan Chase & Co raised their price objective on Johnson & Johnson from $140.00 to $148.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 16th. Jefferies Group LLC set a $145.00 price objective on Johnson & Johnson and gave the stock a “hold” rating in a research note on Tuesday, August 15th. Vetr lowered Johnson & Johnson from a “hold” rating to a “sell” rating and set a $130.49 price objective for the company. in a research note on Monday, September 18th. Stifel Nicolaus raised their price objective on Johnson & Johnson from $140.00 to $142.00 and gave the stock a “hold” rating in a research note on Wednesday, October 18th. Finally, Citigroup Inc. raised their price objective on Johnson & Johnson from $140.00 to $149.00 and gave the stock a “buy” rating in a research note on Monday, October 23rd. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $143.70.
Shares of Johnson & Johnson (NYSE JNJ) opened at $137.29 on Thursday. The company has a current ratio of 1.32, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36. Johnson & Johnson has a 1-year low of $109.32 and a 1-year high of $144.35. The stock has a market capitalization of $371,653.16, a price-to-earnings ratio of 19.38, a P/E/G ratio of 2.81 and a beta of 0.82.
Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, October 17th. The company reported $1.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.80 by $0.10. Johnson & Johnson had a return on equity of 27.38% and a net margin of 21.28%. The company had revenue of $19.65 billion for the quarter, compared to analyst estimates of $19.29 billion. During the same period last year, the company earned $1.68 earnings per share. The business’s revenue was up 10.3% compared to the same quarter last year. analysts predict that Johnson & Johnson will post 7.28 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Tuesday, November 28th will be issued a dividend of $0.84 per share. The ex-dividend date is Monday, November 27th. This represents a $3.36 annualized dividend and a yield of 2.45%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 58.33%.
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About Johnson & Johnson
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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