Smithbridge Asset Management Inc. DE Decreases Stake in Johnson & Johnson (NYSE:JNJ)

Smithbridge Asset Management Inc. DE decreased its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 11.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,188 shares of the company’s stock after selling 5,161 shares during the quarter. Johnson & Johnson comprises about 1.2% of Smithbridge Asset Management Inc. DE’s portfolio, making the stock its 27th biggest holding. Smithbridge Asset Management Inc. DE’s holdings in Johnson & Johnson were worth $5,874,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in Johnson & Johnson during the fourth quarter worth $4,071,642,000. Wellington Management Group LLP boosted its position in shares of Johnson & Johnson by 16.4% during the 4th quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after acquiring an additional 3,391,657 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Johnson & Johnson by 16.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after purchasing an additional 3,139,499 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Johnson & Johnson by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,945,533 shares of the company’s stock worth $2,483,532,000 after purchasing an additional 241,799 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in Johnson & Johnson by 4.9% in the 4th quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock valued at $1,664,620,000 after purchasing an additional 498,647 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $159.50 on Monday. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $169.85. The company has a fifty day simple moving average of $152.38 and a two-hundred day simple moving average of $153.06. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The company has a market cap of $383.87 billion, a price-to-earnings ratio of 9.94, a price-to-earnings-growth ratio of 2.63 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.71 by $0.11. The firm had revenue of $22.45 billion during the quarter, compared to analysts’ expectations of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. Johnson & Johnson’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.80 EPS. As a group, equities analysts anticipate that Johnson & Johnson will post 10.07 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be issued a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 3.11%. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. TD Securities cut their price target on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. TD Cowen cut their target price on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. The Goldman Sachs Group decreased their price target on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Monday, August 5th. Finally, Morgan Stanley upped their target price on shares of Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.21.

About Johnson & Johnson

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.