Johnson & Johnson (NYSE:JNJ) Stake Lowered by Focused Investors LLC

Focused Investors LLC cut its holdings in Johnson & Johnson (NYSE:JNJ) by 1.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,170,250 shares of the company’s stock after selling 21,900 shares during the quarter. Johnson & Johnson makes up about 5.8% of Focused Investors LLC’s investment portfolio, making the stock its 4th largest position. Focused Investors LLC’s holdings in Johnson & Johnson were worth $189,651,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in Johnson & Johnson during the second quarter valued at approximately $27,000. Highline Wealth Partners LLC bought a new stake in Johnson & Johnson during the 3rd quarter valued at $31,000. Mowery & Schoenfeld Wealth Management LLC increased its holdings in shares of Johnson & Johnson by 58.7% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after acquiring an additional 91 shares during the period. Morton Brown Family Wealth LLC lifted its stake in shares of Johnson & Johnson by 400.0% during the 3rd quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock worth $41,000 after purchasing an additional 200 shares during the last quarter. Finally, MFA Wealth Advisors LLC purchased a new position in Johnson & Johnson in the second quarter valued at about $43,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

JNJ has been the topic of a number of recent analyst reports. Royal Bank of Canada raised their price target on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Wells Fargo & Company lifted their price target on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Daiwa Capital Markets lowered Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. Citigroup upped their target price on Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Wolfe Research initiated coverage on Johnson & Johnson in a report on Friday. They issued an “outperform” rating and a $190.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $175.94.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the transaction, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. This represents a 22.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.16% of the stock is owned by company insiders.

Johnson & Johnson Trading Up 1.4 %

NYSE JNJ opened at $154.00 on Friday. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. The company has a market capitalization of $370.77 billion, a PE ratio of 22.29, a P/E/G ratio of 2.74 and a beta of 0.53. The company has a fifty day moving average of $161.35 and a 200 day moving average of $156.10.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.21. The business had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.66 EPS. Research analysts forecast that Johnson & Johnson will post 9.93 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio is currently 71.78%.

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.