Johnson & Johnson (NYSE:JNJ) is Hendley & Co. Inc.’s 9th Largest Position

Hendley & Co. Inc. reduced its stake in shares of Johnson & Johnson (NYSE:JNJ) by 2.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,806 shares of the company’s stock after selling 1,655 shares during the period. Johnson & Johnson accounts for about 3.2% of Hendley & Co. Inc.’s portfolio, making the stock its 9th largest holding. Hendley & Co. Inc.’s holdings in Johnson & Johnson were worth $9,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in JNJ. Steele Capital Management Inc. grew its position in Johnson & Johnson by 5.5% in the second quarter. Steele Capital Management Inc. now owns 1,734 shares of the company’s stock worth $253,000 after acquiring an additional 91 shares during the period. PineStone Asset Management Inc. boosted its stake in shares of Johnson & Johnson by 128.7% in the second quarter. PineStone Asset Management Inc. now owns 2,690,848 shares of the company’s stock valued at $393,294,000 after purchasing an additional 1,514,185 shares during the period. Farmers Trust Co. increased its holdings in Johnson & Johnson by 15.3% during the 2nd quarter. Farmers Trust Co. now owns 69,535 shares of the company’s stock worth $10,163,000 after purchasing an additional 9,216 shares during the period. Howard Capital Management Group LLC boosted its stake in shares of Johnson & Johnson by 0.9% in the 2nd quarter. Howard Capital Management Group LLC now owns 16,775 shares of the company’s stock valued at $2,452,000 after buying an additional 157 shares during the period. Finally, TRUE Private Wealth Advisors grew its position in shares of Johnson & Johnson by 6.0% during the second quarter. TRUE Private Wealth Advisors now owns 32,389 shares of the company’s stock worth $4,734,000 after buying an additional 1,824 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

Johnson & Johnson stock traded up $0.09 on Wednesday, reaching $158.48. The company’s stock had a trading volume of 4,882,530 shares, compared to its average volume of 7,355,267. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $175.39. The company has a market cap of $381.41 billion, a price-to-earnings ratio of 9.89, a PEG ratio of 2.63 and a beta of 0.52. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. The business’s fifty day moving average price is $151.63 and its 200 day moving average price is $153.06.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The company had revenue of $22.45 billion during the quarter, compared to analysts’ expectations of $22.33 billion. During the same period last year, the firm earned $2.80 EPS. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. Equities analysts expect that Johnson & Johnson will post 10.07 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on JNJ shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a report on Tuesday, July 30th. Sanford C. Bernstein upped their price objective on Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Bank of America decreased their target price on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday, August 5th. Finally, Daiwa America cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $173.21.

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.