Narwhal Capital Management Has $15.86 Million Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Narwhal Capital Management lowered its position in Johnson & Johnson (NYSE:JNJ) by 12.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,866 shares of the company’s stock after selling 14,227 shares during the period. Johnson & Johnson comprises 1.4% of Narwhal Capital Management’s holdings, making the stock its 19th largest position. Narwhal Capital Management’s holdings in Johnson & Johnson were worth $15,860,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in JNJ. Innealta Capital LLC bought a new position in shares of Johnson & Johnson during the 2nd quarter valued at about $27,000. MFA Wealth Advisors LLC bought a new position in Johnson & Johnson in the second quarter valued at approximately $43,000. Fairfield Financial Advisors LTD acquired a new position in shares of Johnson & Johnson in the second quarter valued at approximately $46,000. Fairway Wealth LLC increased its position in shares of Johnson & Johnson by 217.1% during the second quarter. Fairway Wealth LLC now owns 333 shares of the company’s stock worth $49,000 after acquiring an additional 228 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Johnson & Johnson during the second quarter worth $49,000. 69.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Morgan Stanley increased their target price on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Wells Fargo & Company raised their price target on Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, October 16th. TD Cowen dropped their price target on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Finally, TD Securities cut their price objective on shares of Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.93.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now directly owns 18,973 shares in the company, valued at $3,131,683.38. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.16% of the stock is owned by company insiders.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $165.86 on Thursday. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. The stock has a market cap of $399.17 billion, a PE ratio of 10.34, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. The stock’s fifty day simple moving average is $163.29 and its two-hundred day simple moving average is $154.92. 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 (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The company had revenue of $22.47 billion for the quarter, compared to the consensus estimate of $22.17 billion. During the same period in the previous year, the firm earned $2.66 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, analysts forecast that Johnson & Johnson will post 10 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be issued a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 2.99%. 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.