Orca Investment Management LLC Sells 222 Shares of Johnson & Johnson (NYSE:JNJ)
Orca Investment Management LLC cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 2.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 7,350 shares of the company’s stock after selling 222 shares during the quarter. Orca Investment Management LLC’s holdings in Johnson & Johnson were worth $1,024,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently modified their holdings of the business. Evolution Wealth Advisors LLC acquired a new stake in shares of Johnson & Johnson in the fourth quarter valued at approximately $40,000. Horan Securities Inc. raised its position in shares of Johnson & Johnson by 122.3% in the fourth quarter. Horan Securities Inc. now owns 438 shares of the company’s stock valued at $56,000 after buying an additional 241 shares in the last quarter. Thor Advisors LLC acquired a new stake in shares of Johnson & Johnson in the first quarter valued at approximately $69,000. FNY Investment Advisers LLC raised its position in shares of Johnson & Johnson by 594.4% in the fourth quarter. FNY Investment Advisers LLC now owns 500 shares of the company’s stock valued at $64,000 after buying an additional 428 shares in the last quarter. Finally, CKW Financial Group raised its position in shares of Johnson & Johnson by 18.8% in the fourth quarter. CKW Financial Group now owns 810 shares of the company’s stock valued at $105,000 after buying an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 66.83% of the company’s stock.
A number of equities research analysts have recently weighed in on JNJ shares. Credit Suisse Group reiterated a “buy” rating and issued a $90.00 price target on shares of Bayerische Motoren Werke in a research report on Thursday, July 18th. BMO Capital Markets assumed coverage on shares of Yelp in a research note on Wednesday, April 17th. They issued an “outperform” rating on the stock. Morgan Stanley set a $60.00 price objective on shares of Berry Global Group and gave the company a “hold” rating in a research note on Wednesday, April 17th. Bank of America raised shares of First Horizon National from an “underperform” rating to a “neutral” rating and set a $16.00 price objective on the stock in a research note on Tuesday, July 16th. Finally, Wells Fargo & Co lifted their price objective on shares of Wingstop from $76.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $148.56.
NYSE:JNJ traded down $0.39 during mid-day trading on Friday, reaching $130.73. The stock had a trading volume of 4,894,561 shares, compared to its average volume of 7,292,443. The business has a 50-day simple moving average of $137.89. The stock has a market capitalization of $347.10 billion, a PE ratio of 15.98, a PEG ratio of 2.21 and a beta of 0.70. The company has a quick ratio of 1.13, a current ratio of 1.44 and a debt-to-equity ratio of 0.47. Johnson & Johnson has a 12 month low of $121.00 and a 12 month high of $148.99.
Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, July 16th. The company reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.16. The business had revenue of $20.56 billion for the quarter, compared to analysts’ expectations of $20.39 billion. Johnson & Johnson had a net margin of 20.08% and a return on equity of 38.57%. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period last year, the firm posted $2.10 earnings per share. Sell-side analysts expect that Johnson & Johnson will post 8.6 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be paid a $0.95 dividend. The ex-dividend date of this dividend is Monday, August 26th. This represents a $3.80 dividend on an annualized basis and a yield of 2.91%. Johnson & Johnson’s dividend payout ratio (DPR) is 46.45%.
Johnson & Johnson Company Profile
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The 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, 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.
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