Legacy Financial Group Inc. Reduces Position in Johnson & Johnson (NYSE:JNJ)

Legacy Financial Group Inc. decreased its holdings in Johnson & Johnson (NYSE:JNJ) by 6.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,093 shares of the company’s stock after selling 138 shares during the period. Legacy Financial Group Inc.’s holdings in Johnson & Johnson were worth $306,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new stake in Johnson & Johnson during the 4th quarter worth about $4,071,642,000. Wellington Management Group LLP lifted its holdings in shares of Johnson & Johnson by 16.4% in the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock worth $3,764,852,000 after buying an additional 3,391,657 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Johnson & Johnson by 16.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock valued at $3,453,978,000 after acquiring an additional 3,139,499 shares during the period. Ninety One UK Ltd increased its holdings in Johnson & Johnson by 59.0% during the 2nd quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock worth $980,579,000 after acquiring an additional 2,489,925 shares during the period. Finally, Swedbank AB purchased a new stake in Johnson & Johnson in the 1st quarter worth approximately $331,178,000. Institutional investors own 69.55% of the company’s stock.

Insiders Place Their Bets

In other news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Up 0.0 %

Shares of NYSE:JNJ opened at $167.07 on Wednesday. The stock has a market capitalization of $402.08 billion, a P/E ratio of 10.42, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53. The stock’s 50-day moving average price is $160.38 and its 200-day moving average price is $154.01. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly 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 return on equity of 36.60% and a net margin of 46.34%. The business had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.33 billion. During the same period last year, the company earned $2.80 EPS. Johnson & Johnson’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, equities analysts anticipate that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were given a dividend of $1.24 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 2.97%. Johnson & Johnson’s payout ratio is currently 30.92%.

Analyst Upgrades and Downgrades

JNJ has been the topic of several research analyst reports. Daiwa America cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. TD Securities lowered their price target on Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of Johnson & Johnson in a report on Tuesday, July 30th. The Goldman Sachs Group dropped their target price on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Finally, Sanford C. Bernstein raised their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Seven investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $173.21.

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.