Johnson & Johnson (NYSE:JNJ) Holdings Lowered by Wallace Advisory Group LLC

Wallace Advisory Group LLC cut its stake in Johnson & Johnson (NYSE:JNJ) by 8.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 6,798 shares of the company’s stock after selling 590 shares during the period. Wallace Advisory Group LLC’s holdings in Johnson & Johnson were worth $994,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP grew its holdings in Johnson & Johnson by 16.4% during the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock worth $3,764,852,000 after acquiring an additional 3,391,657 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Johnson & Johnson by 16.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock valued at $3,453,978,000 after purchasing an additional 3,139,499 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Johnson & Johnson by 10.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock worth $2,744,979,000 after purchasing an additional 1,831,751 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Johnson & Johnson by 5.5% during the second quarter. Ameriprise Financial Inc. now owns 14,374,397 shares of the company’s stock valued at $2,100,427,000 after purchasing an additional 754,200 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Johnson & Johnson by 16.2% during the second quarter. Dimensional Fund Advisors LP now owns 13,147,352 shares of the company’s stock worth $1,921,565,000 after buying an additional 1,829,257 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Trading Up 0.0 %

NYSE JNJ opened at $161.40 on Monday. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. The firm’s fifty day simple moving average is $162.15 and its 200-day simple moving average is $154.16. The company has a market capitalization of $388.44 billion, a PE ratio of 10.06, a price-to-earnings-growth ratio of 2.69 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. The company had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the business earned $2.80 EPS. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.02 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 3.07%. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Insider Buying and Selling

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the firm’s 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 transaction, the vice president now directly owns 18,973 shares in the company, valued at $3,131,683.38. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on JNJ shares. Morgan Stanley increased their price objective on Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Sanford C. Bernstein increased their price target on Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price objective on shares of Johnson & Johnson in a research note on Friday, September 20th. Finally, TD Cowen dropped their target price on shares of 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 analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $173.21.

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.