1ST Source Bank Decreases Position in Johnson & Johnson $JNJ

1ST Source Bank trimmed its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 1.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,044 shares of the company’s stock after selling 1,232 shares during the quarter. Johnson & Johnson accounts for about 0.6% of 1ST Source Bank’s portfolio, making the stock its 23rd largest position. 1ST Source Bank’s holdings in Johnson & Johnson were worth $10,546,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CSM Advisors LLC purchased a new stake in Johnson & Johnson during the 2nd quarter worth approximately $19,372,000. Sound View Wealth Advisors Group LLC grew its holdings in shares of Johnson & Johnson by 0.9% during the second quarter. Sound View Wealth Advisors Group LLC now owns 70,743 shares of the company’s stock valued at $10,806,000 after buying an additional 624 shares during the last quarter. Campbell & CO Investment Adviser LLC increased its position in shares of Johnson & Johnson by 1,165.7% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 27,466 shares of the company’s stock valued at $4,195,000 after acquiring an additional 25,296 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in Johnson & Johnson by 45.9% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 173,936 shares of the company’s stock worth $26,569,000 after acquiring an additional 54,683 shares during the last quarter. Finally, Delta Financial Advisors LLC lifted its position in Johnson & Johnson by 0.5% during the 2nd quarter. Delta Financial Advisors LLC now owns 25,853 shares of the company’s stock worth $3,949,000 after acquiring an additional 141 shares during the period. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $177.81, for a total value of $10,041,108.51. Following the sale, the executive vice president directly owned 178,013 shares of the company’s stock, valued at $31,652,491.53. The trade was a 24.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.16% of the stock is currently owned by company insiders.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $186.50 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a market capitalization of $449.34 billion, a PE ratio of 18.00, a P/E/G ratio of 2.19 and a beta of 0.38. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $194.48. The company has a fifty day moving average of $184.25 and a two-hundred day moving average of $168.70.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. The business had revenue of $24.02 billion during the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. As a group, research analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.8%. Johnson & Johnson’s dividend payout ratio is presently 50.19%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Guggenheim raised Johnson & Johnson from a “neutral” rating to a “buy” rating and increased their price objective for the company from $167.00 to $206.00 in a report on Tuesday, September 23rd. Wall Street Zen upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Wells Fargo & Company set a $212.00 price objective on shares of Johnson & Johnson and gave the company an “overweight” rating in a research note on Friday, October 3rd. Morgan Stanley set a $190.00 price objective on shares of Johnson & Johnson in a report on Wednesday, October 15th. Finally, Citigroup raised their target price on shares of Johnson & Johnson from $213.00 to $215.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $199.05.

Johnson & Johnson Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.