Johnson & Johnson (NYSE:JNJ) Stock Position Decreased by Pictet Asset Management SA

Pictet Asset Management SA cut its position in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 4.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,256,466 shares of the company’s stock after selling 60,230 shares during the period. Pictet Asset Management SA’s holdings in Johnson & Johnson were worth $223,035,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in JNJ. Vanguard Group Inc. raised its stake in shares of Johnson & Johnson by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 238,141,110 shares of the company’s stock worth $42,205,749,000 after purchasing an additional 3,358,478 shares in the last quarter. GQG Partners LLC raised its stake in shares of 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 acquiring an additional 2,547,378 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of 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 acquiring an additional 1,805,632 shares in the last quarter. Swiss National Bank raised its stake in shares of 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 acquiring an additional 1,396,500 shares in the last quarter. Finally, Bridgewater Associates LP raised its stake in shares of 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 acquiring an additional 1,247,260 shares in the last quarter. 68.59% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $176.20 on Friday. Johnson & Johnson has a 1-year low of $155.72 and a 1-year high of $186.69. The firm has a market capitalization of $460.67 billion, a PE ratio of 24.54, a PEG ratio of 3.44 and a beta of 0.57. The business’s 50 day moving average is $167.84 and its 200-day moving average is $171.40. The company has a current ratio of 1.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.37.

Johnson & Johnson (NYSE:JNJGet Rating) last announced its quarterly earnings data on Tuesday, October 18th. The company reported $2.55 earnings per share 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 company had revenue of $23.79 billion for the quarter, compared to analyst estimates of $23.44 billion. During the same quarter last year, the firm earned $2.60 EPS. Johnson & Johnson’s revenue for the quarter was up 1.9% compared to the same quarter last year. Sell-side analysts predict that Johnson & Johnson will post 10.04 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Tuesday, November 22nd will be paid a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 2.57%. The ex-dividend date is Monday, November 21st. Johnson & Johnson’s dividend payout ratio is 62.95%.

Johnson & Johnson declared that its board has approved a share repurchase program on Wednesday, September 14th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 1.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Bank of America cut their price objective on Johnson & Johnson from $185.00 to $178.00 and set a “neutral” rating on the stock in a research note on Friday, October 14th. Morgan Stanley cut their price objective on Johnson & Johnson from $174.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 19th. Raymond James dropped their price target on Johnson & Johnson from $192.00 to $185.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 19th. Sanford C. Bernstein dropped their price target on Johnson & Johnson from $194.00 to $190.00 in a research report on Wednesday, October 19th. Finally, Credit Suisse Group began coverage on Johnson & Johnson in a research report on Thursday. They issued a “neutral” rating and a $170.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $181.33.

Insider Activity at Johnson & Johnson

In related news, EVP Kathryn E. Wengel sold 16,410 shares of the business’s stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $173.42, for a total value of $2,845,822.20. Following the sale, the executive vice president now owns 71,311 shares of the company’s stock, valued at approximately $12,366,753.62. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Johnson & Johnson news, EVP Kathryn E. Wengel sold 16,410 shares of the business’s stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $173.42, for a total value of $2,845,822.20. Following the transaction, the executive vice president now owns 71,311 shares of the company’s stock, valued at $12,366,753.62. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Peter Fasolo sold 22,864 shares of the business’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 114,676 shares in the company, valued at approximately $18,864,202. 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 90 days. 0.35% of the stock is owned by corporate insiders.

About Johnson & Johnson

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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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