Elo Mutual Pension Insurance Co Sells 3,235 Shares of Johnson & Johnson (NYSE:JNJ)

Elo Mutual Pension Insurance Co reduced its stake in Johnson & Johnson (NYSE:JNJ) by 1.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 216,722 shares of the company’s stock after selling 3,235 shares during the quarter. Johnson & Johnson accounts for approximately 0.7% of Elo Mutual Pension Insurance Co’s investment portfolio, making the stock its 22nd largest holding. Elo Mutual Pension Insurance Co’s holdings in Johnson & Johnson were worth $31,676,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in JNJ. Meridian Financial Partners LLC acquired a new stake in shares of Johnson & Johnson during the 2nd quarter worth approximately $1,626,000. Summit Financial Wealth Advisors LLC boosted its holdings in shares of Johnson & Johnson by 26.3% in the 1st quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock valued at $853,000 after purchasing an additional 1,122 shares in the last quarter. Gilbert & Cook Inc. raised its holdings in shares of Johnson & Johnson by 3.3% during the 4th quarter. Gilbert & Cook Inc. now owns 9,111 shares of the company’s stock worth $1,428,000 after buying an additional 288 shares in the last quarter. Franklin Parlapiano Turner & Welch LLC lifted its position in shares of Johnson & Johnson by 0.7% during the 1st quarter. Franklin Parlapiano Turner & Welch LLC now owns 47,186 shares of the company’s stock worth $7,464,000 after buying an additional 325 shares during the last quarter. Finally, Capital Asset Advisory Services LLC boosted its stake in Johnson & Johnson by 8.8% in the first quarter. Capital Asset Advisory Services LLC now owns 26,539 shares of the company’s stock valued at $4,044,000 after buying an additional 2,151 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on JNJ. Sanford C. Bernstein increased their target price on shares of Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Daiwa America downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Daiwa Capital Markets downgraded Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. Finally, 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. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.21.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $167.07 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85. The business’s 50 day simple moving average is $160.38 and its 200 day simple moving average is $154.01. The stock has a market capitalization of $402.08 billion, a PE ratio of 10.42, a PEG ratio of 2.71 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The company had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.33 billion. During the same period in the prior year, the firm posted $2.80 EPS. The company’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, research analysts forecast that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is 30.92%.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the sale, the vice president now directly owns 18,973 shares in the company, valued at $3,131,683.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.16% of the stock is owned by corporate insiders.

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.