Johnson & Johnson (NYSE:JNJ) Shares Sold by HM Capital Management LLC

HM Capital Management LLC lessened its position in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 11.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,984 shares of the company’s stock after selling 4,171 shares during the quarter. Johnson & Johnson makes up about 3.2% of HM Capital Management LLC’s holdings, making the stock its 7th largest position. HM Capital Management LLC’s holdings in Johnson & Johnson were worth $5,677,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Johnson & Johnson by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 238,141,110 shares of the company’s stock valued at $42,205,749,000 after purchasing an additional 3,358,478 shares during the last quarter. GQG Partners LLC raised its stake in Johnson & Johnson by 64.4% in the 1st quarter. GQG Partners LLC now owns 6,501,761 shares of the company’s stock valued at $1,151,931,000 after purchasing an additional 2,547,378 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Johnson & Johnson by 37.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,653,610 shares of the company’s stock valued at $1,179,219,000 after purchasing an additional 1,805,632 shares during the last quarter. Swiss National Bank raised its stake in Johnson & Johnson by 14.0% in the 1st quarter. Swiss National Bank now owns 11,402,516 shares of the company’s stock valued at $2,020,868,000 after purchasing an additional 1,396,500 shares during the last quarter. Finally, Bridgewater Associates LP raised its stake in Johnson & Johnson by 40.3% in the 1st quarter. Bridgewater Associates LP now owns 4,345,002 shares of the company’s stock valued at $770,065,000 after purchasing an additional 1,247,260 shares during the last quarter. Institutional investors and hedge funds own 68.59% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on JNJ shares. UBS Group lowered their price target on Johnson & Johnson from $185.00 to $180.00 in a report on Thursday, July 21st. Raymond James lowered their price target on Johnson & Johnson from $192.00 to $185.00 and set an “outperform” rating for the company in a report on Wednesday, October 19th. StockNews.com started coverage on Johnson & Johnson in a report on Wednesday, October 12th. They issued a “strong-buy” rating for the company. Bank of America lowered their price target on Johnson & Johnson from $185.00 to $178.00 and set a “neutral” rating for the company in a report on Friday, October 14th. Finally, Barclays assumed coverage on Johnson & Johnson in a report on Monday, October 17th. They issued an “equal weight” rating and a $175.00 price target for the company. Six analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $184.25.

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $172.39 on Wednesday. The stock’s 50 day moving average price is $167.25 and its 200 day moving average price is $171.38. The firm has a market capitalization of $450.71 billion, a PE ratio of 24.01, a price-to-earnings-growth ratio of 3.35 and a beta of 0.57. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.18 and a current ratio of 1.43. Johnson & Johnson has a one year low of $155.72 and a one year high of $186.69.

Johnson & Johnson (NYSE:JNJGet Rating) last released its quarterly earnings results on Tuesday, October 18th. The company reported $2.55 EPS for the quarter, topping the consensus estimate of $2.49 by $0.06. Johnson & Johnson had a return on equity of 35.37% and a net margin of 19.95%. The firm had revenue of $23.79 billion for the quarter, compared to analyst estimates of $23.44 billion. During the same period in the previous year, the company posted $2.60 EPS. Johnson & Johnson’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, sell-side analysts expect that Johnson & Johnson will post 10.04 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Tuesday, November 22nd will be given a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date is Monday, November 21st. Johnson & Johnson’s payout ratio is 62.95%.

Johnson & Johnson declared that its Board of Directors has approved a share buyback program on Wednesday, September 14th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 1.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, VP Peter Fasolo sold 22,864 shares of the company’s stock in a transaction that occurred on Wednesday, October 19th. The stock was sold at an average price of $164.50, for a total value of $3,761,128.00. Following the transaction, the vice president now directly owns 114,676 shares of the company’s stock, valued at approximately $18,864,202. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, VP Peter Fasolo sold 22,864 shares of the company’s stock in a transaction that occurred on Wednesday, October 19th. The stock was sold at an average price of $164.50, for a total transaction of $3,761,128.00. Following the sale, the vice president now directly owns 114,676 shares of the company’s stock, valued at approximately $18,864,202. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider William Hait sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, October 24th. The shares were sold at an average price of $171.55, for a total value of $2,573,250.00. Following the sale, the insider now directly owns 80,236 shares in the company, valued at $13,764,485.80. The disclosure for this sale can be found here. Insiders have sold a total of 118,795 shares of company stock valued at $20,230,174 in the last three months. Corporate insiders own 0.35% of the company’s stock.

Johnson & Johnson Company Profile

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Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment offers baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.

Further Reading

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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