Gabelli Funds LLC Sells 1,850 Shares of Johnson & Johnson (NYSE:JNJ)

Gabelli Funds LLC cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 0.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 194,635 shares of the company’s stock after selling 1,850 shares during the period. Gabelli Funds LLC’s holdings in Johnson & Johnson were worth $28,448,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of JNJ. Innealta Capital LLC bought a new position in Johnson & Johnson during the second quarter worth about $27,000. MFA Wealth Advisors LLC acquired a new position in shares of Johnson & Johnson during the 2nd quarter worth approximately $43,000. Vermillion & White Wealth Management Group LLC bought a new stake in Johnson & Johnson in the 4th quarter valued at $44,000. Fairfield Financial Advisors LTD acquired a new stake in Johnson & Johnson during the 2nd quarter valued at $46,000. Finally, Grayhawk Investment Strategies Inc. boosted its position in Johnson & Johnson by 528.6% during the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after purchasing an additional 259 shares during the period. 69.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on JNJ shares. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research note on Monday, September 16th. 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. The Goldman Sachs Group decreased their target price on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Daiwa Capital Markets cut Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $160.00 to $150.00 in a report on Tuesday, July 23rd. Finally, TD Cowen lowered their price objective on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $173.21.

Insiders Place Their Bets

In related news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the sale, the vice president now directly owns 18,973 shares in the company, valued at approximately $3,131,683.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Trading Down 0.4 %

JNJ opened at $164.16 on Monday. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $168.85. The stock has a market capitalization of $395.08 billion, a price-to-earnings ratio of 10.23, a P/E/G ratio of 2.71 and a beta of 0.53. The company has a 50-day simple moving average of $161.30 and a 200 day simple moving average of $154.12.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.11. The company had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.80 EPS. Analysts predict that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were issued a dividend of $1.24 per share. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 annualized dividend and a dividend yield of 3.02%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 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.