Fort Washington Investment Advisors Inc. OH Cuts Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Fort Washington Investment Advisors Inc. OH lowered its holdings in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 4.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,756,129 shares of the company’s stock after selling 79,509 shares during the period. Johnson & Johnson makes up 2.4% of Fort Washington Investment Advisors Inc. OH’s holdings, making the stock its 5th largest position. Fort Washington Investment Advisors Inc. OH owned approximately 0.07% of Johnson & Johnson worth $286,881,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in JNJ. Taylor & Morgan Wealth Management LLC increased its stake in Johnson & Johnson by 1.6% during the 2nd quarter. Taylor & Morgan Wealth Management LLC now owns 3,580 shares of the company’s stock valued at $635,000 after purchasing an additional 57 shares in the last quarter. Red Wave Investments LLC increased its stake in Johnson & Johnson by 2.0% during the 2nd quarter. Red Wave Investments LLC now owns 2,986 shares of the company’s stock valued at $530,000 after purchasing an additional 59 shares in the last quarter. Argus Investors Counsel Inc. increased its stake in Johnson & Johnson by 0.6% during the 2nd quarter. Argus Investors Counsel Inc. now owns 10,936 shares of the company’s stock valued at $1,941,000 after purchasing an additional 61 shares in the last quarter. Alta Capital Management LLC increased its stake in Johnson & Johnson by 0.4% during the 2nd quarter. Alta Capital Management LLC now owns 15,824 shares of the company’s stock valued at $2,808,000 after purchasing an additional 61 shares in the last quarter. Finally, Paces Ferry Wealth Advisors LLC increased its stake in Johnson & Johnson by 0.7% during the 3rd quarter. Paces Ferry Wealth Advisors LLC now owns 8,724 shares of the company’s stock valued at $1,425,000 after purchasing an additional 62 shares in the last quarter. Institutional investors own 67.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on JNJ shares. Raymond James reduced their price target on shares of Johnson & Johnson from $192.00 to $185.00 and set an “outperform” rating for the company in a research note on Wednesday, October 19th. Sanford C. Bernstein reduced their price target on shares of Johnson & Johnson from $194.00 to $190.00 in a research note on Wednesday, October 19th. Citigroup lifted their price target on shares of Johnson & Johnson from $198.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, December 12th. Morgan Stanley reduced their price target on shares of Johnson & Johnson from $178.00 to $176.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 6th. Finally, Atlantic Securities reduced their price target on shares of Johnson & Johnson from $165.00 to $160.00 and set a “neutral” rating for the company in a research note on Wednesday, October 19th. Seven analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $182.42.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $174.88 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.43 and a quick ratio of 1.18. 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 $457.22 billion, a P/E ratio of 24.36, a P/E/G ratio of 3.45 and a beta of 0.56. The firm’s 50 day simple moving average is $176.22 and its two-hundred day simple moving average is $171.59.

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

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 7th. Shareholders of record on Tuesday, February 21st will be issued a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Friday, February 17th. Johnson & Johnson’s dividend payout ratio is currently 62.95%.

Johnson & Johnson announced that its board has initiated a share buyback plan on Wednesday, September 14th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 1.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Johnson & Johnson

In other news, CFO Joseph J. Wolk sold 14,781 shares of the business’s stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $179.60, for a total value of $2,654,667.60. Following the transaction, the chief financial officer now owns 35,812 shares of the company’s stock, valued at $6,431,835.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Peter Fasolo sold 22,864 shares of the business’s stock in a transaction on Wednesday, October 19th. The shares were sold at an average price of $164.50, for a total value of $3,761,128.00. Following the transaction, the vice president now owns 114,676 shares of the company’s stock, valued at $18,864,202. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Joseph J. Wolk sold 14,781 shares of the business’s stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $179.60, for a total transaction of $2,654,667.60. Following the completion of the transaction, the chief financial officer now directly owns 35,812 shares in the company, valued at approximately $6,431,835.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 300,750 shares of company stock valued at $52,311,677. 0.35% of the stock is currently 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.

See Also

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

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