Van ECK Associates Corp boosted its holdings in Johnson & Johnson (NYSE:JNJ) by 4.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 354,435 shares of the company’s stock after purchasing an additional 16,302 shares during the quarter. Van ECK Associates Corp’s holdings in Johnson & Johnson were worth $58,390,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Solstein Capital LLC acquired a new position in Johnson & Johnson in the 1st quarter valued at $30,000. Newton One Investments LLC acquired a new position in shares of Johnson & Johnson during the 2nd quarter worth $31,000. Annapolis Financial Services LLC grew its stake in shares of Johnson & Johnson by 109.4% during the 2nd quarter. Annapolis Financial Services LLC now owns 312 shares of the company’s stock worth $51,000 after purchasing an additional 163 shares during the period. Lake Point Wealth Management acquired a new position in shares of Johnson & Johnson during the 2nd quarter worth $52,000. Finally, Cypress Point Wealth Management LLC acquired a new position in shares of Johnson & Johnson during the 2nd quarter worth $58,000. 67.29% of the stock is currently owned by institutional investors.
A number of equities analysts have recently weighed in on the stock. SVB Leerink reaffirmed a “buy” rating on shares of Johnson & Johnson in a research note on Thursday, July 29th. Credit Suisse Group set a $193.00 price objective on shares of Johnson & Johnson and gave the company a “buy” rating in a research note on Monday, June 7th. Finally, Morgan Stanley lowered shares of Johnson & Johnson from an “overweight” rating to an “equal weight” rating and set a $187.00 target price on the stock. in a report on Tuesday, September 7th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $190.38.
Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, July 20th. The company reported $2.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.29 by $0.19. Johnson & Johnson had a net margin of 19.92% and a return on equity of 37.06%. The company had revenue of $23.31 billion during the quarter, compared to the consensus estimate of $22.54 billion. During the same quarter last year, the company earned $1.67 earnings per share. Johnson & Johnson’s revenue for the quarter was up 27.1% on a year-over-year basis. On average, equities analysts anticipate that Johnson & Johnson will post 9.65 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 7th. Investors of record on Tuesday, August 24th were paid a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend was Monday, August 23rd. Johnson & Johnson’s dividend payout ratio (DPR) is presently 52.80%.
Johnson & Johnson Profile
Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer Health, Pharmaceutical, and Medical Devices. The Consumer Health segment includes products used in the baby care, oral care, beauty, over-the-counter pharmaceutical, women’s health, and wound care markets.
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