Sentry Investment Management LLC Lowers Stake in Johnson & Johnson (NYSE:JNJ)

Sentry Investment Management LLC trimmed its position in shares of Johnson & Johnson (NYSE:JNJ) by 14.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,899 shares of the company’s stock after selling 1,611 shares during the period. Johnson & Johnson makes up about 0.7% of Sentry Investment Management LLC’s holdings, making the stock its 23rd largest holding. Sentry Investment Management LLC’s holdings in Johnson & Johnson were worth $1,432,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Janus Henderson Group PLC grew its holdings in shares of Johnson & Johnson by 228.1% in the third quarter. Janus Henderson Group PLC now owns 3,389,361 shares of the company’s stock valued at $549,223,000 after purchasing an additional 2,356,359 shares in the last quarter. Franklin Resources Inc. boosted its position in Johnson & Johnson by 11.4% in the 3rd quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock valued at $2,721,355,000 after buying an additional 1,729,281 shares during the period. Holocene Advisors LP acquired a new position in shares of Johnson & Johnson in the third quarter worth $225,040,000. FMR LLC increased its position in shares of Johnson & Johnson by 7.4% during the third quarter. FMR LLC now owns 18,316,920 shares of the company’s stock worth $2,968,440,000 after acquiring an additional 1,265,748 shares during the period. Finally, State Street Corp raised its stake in shares of Johnson & Johnson by 0.9% in the third quarter. State Street Corp now owns 134,245,811 shares of the company’s stock valued at $21,755,874,000 after acquiring an additional 1,154,088 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on JNJ. Citigroup cut their price target on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Argus raised shares of Johnson & Johnson to a “strong-buy” rating in a report on Friday, January 24th. Barclays lifted their price target on shares of Johnson & Johnson from $159.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 28th. Raymond James dropped their price objective on shares of Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $181.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, February 19th. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.67.

Johnson & Johnson Trading Up 0.4 %

NYSE:JNJ opened at $163.69 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $168.85. The stock’s 50 day moving average price is $150.48 and its 200 day moving average price is $156.02. The company has a market capitalization of $394.11 billion, a PE ratio of 24.62, a P/E/G ratio of 2.56 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.05. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The company had revenue of $22.52 billion for the quarter, compared to analysts’ expectations of $22.44 billion. During the same period in the previous year, the company posted $2.29 EPS. Johnson & Johnson’s revenue was up 5.3% compared to the same quarter last year. On average, research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.03%. The ex-dividend date is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 74.59%.

Insider Activity

In related news, Director Mark A. Weinberger purchased 1,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was bought at an average cost of $147.22 per share, with a total value of $147,220.00. Following the completion of the acquisition, the director now directly owns 1,000 shares in the company, valued at $147,220. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy Schmid sold 403 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total value of $62,928.45. Following the sale, the executive vice president now directly owns 15,098 shares in the company, valued at approximately $2,357,552.70. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.