Intech Investment Management LLC Lowers Holdings in Johnson & Johnson (NYSE:JNJ)

Intech Investment Management LLC trimmed its holdings in Johnson & Johnson (NYSE:JNJ) by 24.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 152,547 shares of the company’s stock after selling 49,146 shares during the period. Intech Investment Management LLC’s holdings in Johnson & Johnson were worth $22,296,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Gilbert & Cook Inc. raised its stake in shares of Johnson & Johnson by 3.3% in the fourth quarter. Gilbert & Cook Inc. now owns 9,111 shares of the company’s stock valued at $1,428,000 after acquiring an additional 288 shares in the last quarter. 9258 Wealth Management LLC lifted its position in Johnson & Johnson by 2.1% in the fourth quarter. 9258 Wealth Management LLC now owns 22,034 shares of the company’s stock valued at $3,454,000 after purchasing an additional 443 shares during the period. Gryphon Financial Partners LLC lifted its position in Johnson & Johnson by 66.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 14,245 shares of the company’s stock valued at $2,244,000 after purchasing an additional 5,680 shares during the period. TrinityPoint Wealth LLC lifted its position in Johnson & Johnson by 1.9% in the fourth quarter. TrinityPoint Wealth LLC now owns 36,777 shares of the company’s stock valued at $5,764,000 after purchasing an additional 700 shares during the period. Finally, Assetmark Inc. lifted its position in shares of Johnson & Johnson by 2.1% during the 4th quarter. Assetmark Inc. now owns 51,728 shares of the company’s stock valued at $8,108,000 after acquiring an additional 1,060 shares during the period. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the transaction, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Down 0.8 %

Shares of NYSE JNJ opened at $164.82 on Friday. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85. The firm has a fifty day moving average of $161.02 and a 200-day moving average of $154.17. The stock has a market capitalization of $396.67 billion, a PE ratio of 10.28, a P/E/G ratio of 2.71 and a beta of 0.53. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The company had revenue of $22.45 billion during the quarter, compared to analysts’ expectations of $22.33 billion. During the same period in the previous year, the company earned $2.80 EPS. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, analysts anticipate that Johnson & Johnson will post 10.02 EPS for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were issued a dividend of $1.24 per share. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 annualized dividend and a dividend yield of 3.01%. Johnson & Johnson’s payout ratio is 30.92%.

Wall Street Analyst Weigh In

JNJ has been the subject of a number of research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research report on Monday. Morgan Stanley lifted their price objective on Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. TD Securities cut their price objective on Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Finally, Sanford C. Bernstein lifted their price objective on Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $173.21.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.