Argus Investors Counsel Inc. Has $4.26 Million Holdings in Johnson & Johnson (JNJ)
Argus Investors Counsel Inc. grew its position in shares of Johnson & Johnson (NYSE:JNJ) by 12.7% during the 2nd quarter, Holdings Channel reports. The firm owned 35,124 shares of the company’s stock after purchasing an additional 3,951 shares during the quarter. Johnson & Johnson accounts for 1.9% of Argus Investors Counsel Inc.’s holdings, making the stock its 22nd largest holding. Argus Investors Counsel Inc.’s holdings in Johnson & Johnson were worth $4,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently added to or reduced their stakes in JNJ. BlackRock Inc. lifted its holdings in shares of Johnson & Johnson by 4.7% during the 1st quarter. BlackRock Inc. now owns 175,389,024 shares of the company’s stock worth $22,476,102,000 after acquiring an additional 7,853,141 shares during the period. Boston Partners lifted its holdings in shares of Johnson & Johnson by 68.7% during the 1st quarter. Boston Partners now owns 12,783,909 shares of the company’s stock worth $1,638,258,000 after acquiring an additional 5,207,124 shares during the period. Bank of Montreal Can lifted its holdings in shares of Johnson & Johnson by 36.1% during the 2nd quarter. Bank of Montreal Can now owns 6,910,459 shares of the company’s stock worth $838,515,000 after acquiring an additional 1,833,622 shares during the period. Summit Trail Advisors LLC lifted its holdings in shares of Johnson & Johnson by 11,692.6% during the 1st quarter. Summit Trail Advisors LLC now owns 1,767,832 shares of the company’s stock worth $1,768,000 after acquiring an additional 1,752,841 shares during the period. Finally, Flossbach Von Storch AG lifted its holdings in shares of Johnson & Johnson by 100.1% during the 1st quarter. Flossbach Von Storch AG now owns 2,318,450 shares of the company’s stock worth $297,109,000 after acquiring an additional 1,159,690 shares during the period. 66.67% of the stock is currently owned by institutional investors.
In related news, COO Michael E. Sneed sold 29,000 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $134.80, for a total value of $3,909,200.00. Following the transaction, the chief operating officer now owns 59,124 shares in the company, valued at $7,969,915.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Ronald A. Kapusta sold 7,899 shares of the firm’s stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $137.18, for a total transaction of $1,083,584.82. Following the completion of the transaction, the chief accounting officer now owns 25,725 shares in the company, valued at approximately $3,528,955.50. The disclosure for this sale can be found here. Company insiders own 0.22% of the company’s stock.
Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, July 17th. The company reported $2.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.06 by $0.04. Johnson & Johnson had a net margin of 1.70% and a return on equity of 32.79%. The firm had revenue of $20.83 billion for the quarter, compared to analyst estimates of $20.39 billion. During the same quarter last year, the firm posted $1.83 earnings per share. Johnson & Johnson’s revenue for the quarter was up 10.6% compared to the same quarter last year. Equities research analysts predict that Johnson & Johnson will post 8.14 EPS for the current year.
Several research analysts have recently weighed in on the stock. Wells Fargo & Co reiterated an “outperform” rating and set a $160.00 price objective on shares of Johnson & Johnson in a report on Friday, September 14th. ValuEngine upgraded shares of Johnson & Johnson from a “sell” rating to a “hold” rating in a report on Saturday, July 28th. Jefferies Financial Group set a $145.00 price objective on shares of Johnson & Johnson and gave the stock a “buy” rating in a report on Sunday, July 15th. Credit Suisse Group set a $151.00 price objective on shares of Johnson & Johnson and gave the stock a “buy” rating in a report on Friday, July 13th. Finally, Goldman Sachs Group upgraded shares of Johnson & Johnson from a “sell” rating to a “neutral” rating in a report on Thursday, July 12th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $143.91.
About Johnson & Johnson
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. Its Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, RoC, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.
See Also: Initial Public Offering (IPO)
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