Johnson & Johnson (NYSE:JNJ) Stock Position Trimmed by Profund Advisors LLC

Profund Advisors LLC cut its position in Johnson & Johnson (NYSE:JNJ) by 2.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 43,812 shares of the company’s stock after selling 1,124 shares during the quarter. Profund Advisors LLC’s holdings in Johnson & Johnson were worth $6,404,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Innealta Capital LLC bought a new stake in Johnson & Johnson in the 2nd quarter valued at about $27,000. MFA Wealth Advisors LLC acquired a new position in Johnson & Johnson during the 2nd quarter valued at about $43,000. Vermillion & White Wealth Management Group LLC acquired a new position in Johnson & Johnson during the 4th quarter valued at about $44,000. Fairfield Financial Advisors LTD acquired a new position in Johnson & Johnson during the 2nd quarter valued at about $46,000. Finally, Grayhawk Investment Strategies Inc. increased its stake in Johnson & Johnson by 528.6% during the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after buying an additional 259 shares during the period. 69.55% of the stock is currently owned by institutional investors.

Insider Activity at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction that occurred 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 directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Daiwa America cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Daiwa Capital Markets cut shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $160.00 to $150.00 in a research note on Tuesday, July 23rd. The Goldman Sachs Group lowered their price objective on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Morgan Stanley lifted their price objective on shares of Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Finally, TD Securities lowered their price objective on shares of Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.21.

Johnson & Johnson Stock Down 0.4 %

JNJ stock opened at $164.16 on Friday. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85. The company’s 50 day simple moving average is $161.30 and its 200-day simple moving average is $154.16. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. The firm has a market capitalization of $395.08 billion, a P/E ratio of 10.23, a P/E/G ratio of 2.71 and a beta of 0.53.

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

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend was Tuesday, August 27th. Johnson & Johnson’s payout ratio is presently 30.92%.

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.