Forsta AP Fonden Sells 49,200 Shares of Johnson & Johnson (NYSE:JNJ)

Forsta AP Fonden lowered its position in Johnson & Johnson (NYSE:JNJ) by 7.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 584,738 shares of the company’s stock after selling 49,200 shares during the period. Johnson & Johnson makes up approximately 0.8% of Forsta AP Fonden’s investment portfolio, making the stock its 19th biggest holding. Forsta AP Fonden’s holdings in Johnson & Johnson were worth $85,465,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of JNJ. Innealta Capital LLC purchased a new stake in Johnson & Johnson in the 2nd quarter valued at about $27,000. Christopher J. Hasenberg Inc purchased a new stake in shares of Johnson & Johnson in the first quarter valued at approximately $31,000. MFA Wealth Advisors LLC bought a new position in Johnson & Johnson in the second quarter worth approximately $43,000. Vermillion & White Wealth Management Group LLC purchased a new position in Johnson & Johnson during the 4th quarter worth $44,000. Finally, Grayhawk Investment Strategies Inc. raised its position in Johnson & Johnson by 528.6% during the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after purchasing an additional 259 shares in the last quarter. Institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. TD Cowen decreased their price objective on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research report on Monday, September 9th. The Goldman Sachs Group cut their price objective on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Daiwa Capital Markets lowered Johnson & Johnson from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $160.00 to $150.00 in a report on Tuesday, July 23rd. Finally, Daiwa America lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $173.21.

Insider Activity

In related news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction dated Friday, August 30th. The stock was 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 owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Trading Up 0.5 %

Johnson & Johnson stock opened at $165.52 on Friday. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85. The stock has a market cap of $398.45 billion, a PE ratio of 10.32, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. The stock has a 50-day moving average of $159.55 and a two-hundred day moving average of $154.04.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.11. The company had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. Johnson & Johnson’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.80 EPS. On average, research analysts anticipate that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

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 was Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a yield of 3.00%. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Johnson & Johnson Company 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.