Summit Financial Group Inc. Buys Shares of 54,587 Johnson & Johnson (JNJ)

Summit Financial Group Inc. acquired a new stake in shares of Johnson & Johnson (NYSE:JNJ) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 54,587 shares of the company’s stock, valued at approximately $7,221,000. Johnson & Johnson comprises about 6.3% of Summit Financial Group Inc.’s holdings, making the stock its largest holding.

Other large investors have also made changes to their positions in the company. OLD Point Trust & Financial Services N A grew its position in shares of Johnson & Johnson by 2.2% during the 2nd quarter. OLD Point Trust & Financial Services N A now owns 61,326 shares of the company’s stock valued at $8,113,000 after buying an additional 1,321 shares during the last quarter. Lynch & Associates IN grew its position in shares of Johnson & Johnson by 0.9% during the 2nd quarter. Lynch & Associates IN now owns 93,710 shares of the company’s stock valued at $12,397,000 after buying an additional 841 shares during the last quarter. Welch & Forbes LLC grew its position in shares of Johnson & Johnson by 0.9% during the 2nd quarter. Welch & Forbes LLC now owns 718,331 shares of the company’s stock valued at $95,028,000 after buying an additional 6,730 shares during the last quarter. Oakbrook Investments LLC grew its position in shares of Johnson & Johnson by 7.4% during the 2nd quarter. Oakbrook Investments LLC now owns 136,124 shares of the company’s stock valued at $18,008,000 after buying an additional 9,375 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its position in Johnson & Johnson by 0.5% in the 2nd quarter. Janney Montgomery Scott LLC now owns 771,868 shares of the company’s stock worth $102,110,000 after purchasing an additional 3,533 shares during the last quarter. 65.61% of the stock is owned by institutional investors and hedge funds.

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JNJ has been the subject of several recent analyst reports. Goldman Sachs Group, Inc. (The) cut shares of Johnson & Johnson from a “neutral” rating to a “sell” rating and upped their target price for the stock from $125.00 to $130.00 in a research report on Wednesday, September 20th. BMO Capital Markets restated a “buy” rating and issued a $145.00 target price on shares of Johnson & Johnson in a research report on Friday, September 1st. Vetr upgraded shares of Johnson & Johnson from a “sell” rating to a “hold” rating and set a $137.71 target price for the company in a research report on Monday, October 30th. Credit Suisse Group set a $154.00 target price on shares of Johnson & Johnson and gave the stock an “outperform” rating in a research report on Thursday, October 19th. Finally, UBS AG restated an “underweight” rating on shares of Johnson & Johnson in a research report on Thursday, August 24th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $143.70.

Shares of Johnson & Johnson (NYSE JNJ) opened at $138.00 on Monday. Johnson & Johnson has a one year low of $109.32 and a one year high of $144.35. The company has a market cap of $370,739.75, a P/E ratio of 19.33, a P/E/G ratio of 2.80 and a beta of 0.82. The company has a current ratio of 1.32, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, October 17th. The company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.80 by $0.10. Johnson & Johnson had a net margin of 21.28% and a return on equity of 27.38%. The business had revenue of $19.65 billion during the quarter, compared to analyst estimates of $19.29 billion. During the same period in the prior year, the business earned $1.68 earnings per share. The business’s quarterly revenue was up 10.3% on a year-over-year basis. equities analysts predict that Johnson & Johnson will post 7.28 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Tuesday, November 28th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend is Monday, November 27th. Johnson & Johnson’s dividend payout ratio is presently 58.33%.

Johnson & Johnson Profile

Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. It operates through three segments: Consumer, Pharmaceutical and Medical Devices. Its primary focus is products related to human health and well-being.

Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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