Benin Management CORP Buys 8,017 Shares of Johnson & Johnson (NYSE:JNJ)

Benin Management CORP boosted its stake in Johnson & Johnson (NYSE:JNJ) by 108.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 15,411 shares of the company’s stock after acquiring an additional 8,017 shares during the period. Johnson & Johnson accounts for 0.7% of Benin Management CORP’s portfolio, making the stock its 21st biggest position. Benin Management CORP’s holdings in Johnson & Johnson were worth $2,252,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc bought a new position in Johnson & Johnson during the first quarter worth $31,000. WFA Asset Management Corp lifted its stake in shares of Johnson & Johnson by 61.4% in the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after purchasing an additional 97 shares during the period. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Johnson & Johnson during the 4th quarter valued at about $44,000. Disciplined Equity Management Inc. acquired a new stake in Johnson & Johnson during the fourth quarter worth approximately $45,000. Finally, MFA Wealth Advisors LLC acquired a new position in Johnson & Johnson in the second quarter valued at approximately $43,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on JNJ shares. Daiwa America downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group cut their price objective on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. TD Securities decreased their target price on Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Morgan Stanley upped their price target on Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Finally, Daiwa Capital Markets cut Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $173.21.

Johnson & Johnson Stock Up 0.6 %

Shares of NYSE:JNJ opened at $162.36 on Friday. The stock has a market cap of $390.75 billion, a price-to-earnings ratio of 10.12, a PEG ratio of 2.63 and a beta of 0.52. The business’s 50 day moving average is $153.55 and its 200 day moving average is $153.21. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $167.78. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.33 billion. During the same quarter in the prior year, the business posted $2.80 EPS. The business’s revenue was up 4.3% compared to the same quarter last year. On average, sell-side analysts forecast that Johnson & Johnson will post 10.07 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be given a dividend of $1.24 per share. The ex-dividend date is Tuesday, August 27th. This represents a $4.96 annualized dividend and a dividend yield of 3.05%. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Johnson & Johnson 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.