Cumberland Partners Ltd Has $22.79 Million Position in Johnson & Johnson (NYSE:JNJ)

Cumberland Partners Ltd lifted its stake in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 1,326.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 128,366 shares of the company’s stock after acquiring an additional 119,366 shares during the period. Johnson & Johnson accounts for about 2.2% of Cumberland Partners Ltd’s portfolio, making the stock its 17th largest position. Cumberland Partners Ltd’s holdings in Johnson & Johnson were worth $22,786,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of JNJ. RE Dickinson Investment Advisors LLC raised its holdings in Johnson & Johnson by 163.3% during the first quarter. RE Dickinson Investment Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after buying an additional 98 shares during the last quarter. Morton Brown Family Wealth LLC raised its holdings in Johnson & Johnson by 78.0% during the second quarter. Morton Brown Family Wealth LLC now owns 178 shares of the company’s stock worth $32,000 after buying an additional 78 shares during the last quarter. Advanced Research Investment Solutions LLC raised its holdings in shares of Johnson & Johnson by 200.0% in the first quarter. Advanced Research Investment Solutions LLC now owns 180 shares of the company’s stock valued at $32,000 after purchasing an additional 120 shares during the last quarter. Professional Financial Advisors LLC raised its holdings in shares of Johnson & Johnson by 47.9% in the first quarter. Professional Financial Advisors LLC now owns 210 shares of the company’s stock valued at $37,000 after purchasing an additional 68 shares during the last quarter. Finally, Goodman Advisory Group LLC purchased a new stake in shares of Johnson & Johnson in the second quarter valued at about $39,000. Institutional investors and hedge funds own 68.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on JNJ. Morgan Stanley lowered their target price on shares of Johnson & Johnson from $174.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, October 19th. Bank of America lowered their target price on shares of Johnson & Johnson from $185.00 to $178.00 and set a “neutral” rating for the company in a report on Friday, October 14th. Credit Suisse Group began coverage on shares of Johnson & Johnson in a report on Thursday, November 17th. They issued a “neutral” rating and a $170.00 target price for the company. Sanford C. Bernstein reduced their price target on shares of Johnson & Johnson from $194.00 to $190.00 in a research report on Wednesday, October 19th. Finally, Barclays began coverage on shares of Johnson & Johnson in a research report on Monday, October 17th. They set an “equal weight” rating and a $175.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $181.33.

Insider Transactions at Johnson & Johnson

In other news, EVP Kathryn E. Wengel sold 16,410 shares of the stock in a transaction dated Wednesday, November 9th. The shares were 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 directly owns 71,311 shares of the company’s stock, valued at $12,366,753.62. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Kathryn E. Wengel sold 16,410 shares of the stock in a transaction dated Wednesday, November 9th. The shares were 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 directly owns 71,311 shares of the company’s stock, valued at $12,366,753.62. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider William Hait sold 15,000 shares of the firm’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 transaction of $2,573,250.00. Following the completion of 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. Over the last ninety days, insiders have sold 135,723 shares of company stock valued at $23,192,574. 0.35% of the stock is currently owned by corporate insiders.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $175.97 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 1.43 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $460.07 billion, a PE ratio of 24.51, a P/E/G ratio of 3.49 and a beta of 0.57. Johnson & Johnson has a twelve month low of $155.72 and a twelve month high of $186.69. The company has a 50-day moving average price of $168.04 and a two-hundred day moving average price of $171.28.

Johnson & Johnson (NYSE:JNJGet Rating) last issued its earnings results on Tuesday, October 18th. The company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. The firm had revenue of $23.79 billion during the quarter, compared to analyst estimates of $23.44 billion. Johnson & Johnson had a net margin of 19.95% and a return on equity of 35.37%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the business earned $2.60 earnings per share. Equities analysts forecast that Johnson & Johnson will post 10.04 EPS for the current year.

Johnson & Johnson Dividend Announcement

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

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

Johnson & Johnson 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.

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

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