Johnson & Johnson (NYSE:JNJ) Stake Trimmed by Hoey Investments Inc.

Hoey Investments Inc. lowered its stake in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,899 shares of the company’s stock after selling 1,102 shares during the period. Johnson & Johnson accounts for 3.4% of Hoey Investments Inc.’s investment portfolio, making the stock its 7th biggest holding. Hoey Investments Inc.’s holdings in Johnson & Johnson were worth $7,970,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of JNJ. Vanguard Group Inc. lifted its position 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 valued at $42,205,749,000 after buying an additional 3,358,478 shares during the last quarter. BlackRock Inc. lifted its holdings in Johnson & Johnson by 0.4% during the first quarter. BlackRock Inc. now owns 200,799,189 shares of the company’s stock valued at $35,587,638,000 after purchasing an additional 777,837 shares during the last quarter. Wellington Management Group LLP boosted its position in Johnson & Johnson by 0.8% during the first quarter. Wellington Management Group LLP now owns 32,772,594 shares of the company’s stock worth $5,808,286,000 after purchasing an additional 265,330 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Johnson & Johnson by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 32,070,396 shares of the company’s stock worth $5,683,837,000 after purchasing an additional 509,818 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Johnson & Johnson by 1.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 17,189,229 shares of the company’s stock valued at $3,046,449,000 after purchasing an additional 328,297 shares during the period. Institutional investors own 68.59% of the company’s stock.

Johnson & Johnson Trading Up 0.1 %

Shares of JNJ opened at $177.01 on Friday. Johnson & Johnson has a 1-year low of $155.72 and a 1-year high of $186.69. The company has a market capitalization of $462.79 billion, a P/E ratio of 24.65, a P/E/G ratio of 3.50 and a beta of 0.57. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.43 and a quick ratio of 1.18. The firm’s 50 day simple moving average is $168.60 and its 200 day simple moving average is $171.32.

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

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 6th. Stockholders of record on Tuesday, November 22nd will be given a dividend of $1.13 per share. The ex-dividend date is Monday, November 21st. This represents a $4.52 annualized dividend and a dividend yield of 2.55%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 62.95%.

Johnson & Johnson declared that its board has initiated a stock repurchase program on Wednesday, September 14th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase 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.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on JNJ. StockNews.com began coverage on shares of Johnson & Johnson in a research note on Wednesday, October 12th. They issued a “strong-buy” rating for the company. Credit Suisse Group began coverage on Johnson & Johnson in a research note on Thursday, November 17th. They set a “neutral” rating and a $170.00 price objective on the stock. Citigroup reduced their target price on Johnson & Johnson from $201.00 to $198.00 in a report on Wednesday, October 5th. Morgan Stanley lowered their price target on shares of Johnson & Johnson from $174.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 19th. Finally, Bank of America reduced their price objective on shares of Johnson & Johnson from $185.00 to $178.00 and set a “neutral” rating for the company in a research note on Friday, October 14th. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $181.33.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, CAO Robert J. Decker sold 16,928 shares of the company’s stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $175.00, for a total value of $2,962,400.00. Following the completion of the sale, the chief accounting officer now owns 15,473 shares of the company’s stock, valued at $2,707,775. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 76,923 shares of the business’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $176.78, for a total value of $13,598,447.94. Following the completion of the sale, the executive vice president now directly owns 126,456 shares of the company’s stock, valued at $22,354,891.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Robert J. Decker sold 16,928 shares of the firm’s stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $175.00, for a total value of $2,962,400.00. Following the transaction, the chief accounting officer now directly owns 15,473 shares in the company, valued at $2,707,775. The disclosure for this sale can be found here. In the last three months, insiders have sold 212,646 shares of company stock valued at $36,791,022. Corporate insiders own 0.35% of the company’s stock.

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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