Beutel Goodman & Co Ltd. lessened its stake in shares of Johnson & Johnson (NYSE:JNJ) by 1.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 240,450 shares of the company’s stock after selling 3,839 shares during the period. Beutel Goodman & Co Ltd.’s holdings in Johnson & Johnson were worth $25,701,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Selective Wealth Management acquired a new position in Johnson & Johnson during the third quarter valued at approximately $105,000. WP Advisors LLC acquired a new stake in shares of Johnson & Johnson in the second quarter worth $108,000. Fusion Family Wealth LLC grew its stake in shares of Johnson & Johnson by 621.4% in the second quarter. Fusion Family Wealth LLC now owns 1,010 shares of the company’s stock worth $123,000 after acquiring an additional 870 shares during the last quarter. First Capital Advisors Group LLC. acquired a new stake in shares of Johnson & Johnson in the third quarter worth $207,000. Finally, Jentner Corp acquired a new stake in shares of Johnson & Johnson in the third quarter worth $208,000. Institutional investors own 68.98% of the company’s stock.
Several equities research analysts have recently issued reports on JNJ shares. Zacks Investment Research upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and set a $165.00 price objective on the stock in a research note on Tuesday, November 20th. HC Wainwright restated a “buy” rating on shares of Johnson & Johnson in a research note on Wednesday, October 17th. ValuEngine upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Thursday, December 13th. Morgan Stanley lowered their price objective on shares of Johnson & Johnson from $153.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 2nd. Finally, Barclays restated an “equal weight” rating and issued a $135.00 price objective (down previously from $137.00) on shares of Johnson & Johnson in a research note on Wednesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $142.20.
In other Johnson & Johnson news, VP Peter Fasolo sold 166,695 shares of Johnson & Johnson stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $146.41, for a total transaction of $24,405,814.95. Following the completion of the transaction, the vice president now directly owns 155,540 shares of the company’s stock, valued at $22,772,611.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Ronald A. Kapusta sold 3,643 shares of Johnson & Johnson stock in a transaction on Thursday, December 13th. The shares were sold at an average price of $147.31, for a total value of $536,650.33. Following the transaction, the chief accounting officer now directly owns 13,641 shares of the company’s stock, valued at $2,009,455.71. The disclosure for this sale can be found here. Insiders have sold 465,746 shares of company stock worth $67,951,916 in the last quarter. Corporate insiders own 0.22% of the company’s stock.
JNJ opened at $134.45 on Thursday. Johnson & Johnson has a fifty-two week low of $118.62 and a fifty-two week high of $148.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.40 and a current ratio of 1.72. The firm has a market cap of $355.22 billion, a price-to-earnings ratio of 16.44, a price-to-earnings-growth ratio of 2.11 and a beta of 0.68.
Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, January 22nd. The company reported $1.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.95 by $0.02. Johnson & Johnson had a net margin of 18.75% and a return on equity of 35.09%. The firm had revenue of $20.39 billion for the quarter, compared to the consensus estimate of $20.27 billion. During the same quarter in the previous year, the company earned $1.74 earnings per share. The business’s revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Johnson & Johnson will post 8.57 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 12th. Shareholders of record on Tuesday, February 26th will be paid a dividend of $0.90 per share. The ex-dividend date is Monday, February 25th. This represents a $3.60 dividend on an annualized basis and a yield of 2.68%. Johnson & Johnson’s dividend payout ratio is currently 44.01%.
Johnson & Johnson declared that its Board of Directors has initiated a share buyback plan on Monday, December 17th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 1.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.
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Johnson & Johnson Profile
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.
Further Reading: Why do company’s buyback their stock?
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