Heron Bay Capital Management Lowers Stock Position in Johnson & Johnson (NYSE:JNJ)

Heron Bay Capital Management trimmed its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 59.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,743 shares of the company’s stock after selling 27,551 shares during the period. Heron Bay Capital Management’s holdings in Johnson & Johnson were worth $2,740,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wellington Management Group LLP raised its position in Johnson & Johnson by 16.4% in the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock worth $3,764,852,000 after acquiring an additional 3,391,657 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Johnson & Johnson by 16.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock valued at $3,453,978,000 after purchasing an additional 3,139,499 shares in the last quarter. Ninety One UK Ltd lifted its stake in shares of Johnson & Johnson by 59.0% in the second quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock valued at $980,579,000 after purchasing an additional 2,489,925 shares during the period. Swedbank AB purchased a new stake in Johnson & Johnson during the first quarter worth about $331,178,000. Finally, Massachusetts Financial Services Co. MA grew its position in Johnson & Johnson by 10.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock worth $2,744,979,000 after buying an additional 1,831,751 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the sale, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is currently owned by insiders.

Johnson & Johnson Stock Down 0.4 %

JNJ stock opened at $164.16 on Friday. The company has a 50 day moving average price of $161.30 and a two-hundred day moving average price of $154.16. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. The stock has a market capitalization of $395.08 billion, a P/E ratio of 10.23, a PEG ratio of 2.71 and a beta of 0.53. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The firm had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.33 billion. During the same period in the prior year, the business posted $2.80 earnings per share. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, sell-side analysts expect that Johnson & Johnson will post 10.02 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were issued a $1.24 dividend. 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 currently 30.92%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Daiwa Capital Markets cut Johnson & Johnson from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $160.00 to $150.00 in a report on Tuesday, July 23rd. TD Securities lowered their target price on Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. The Goldman Sachs Group cut their price target on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Finally, Daiwa America downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $173.21.

Johnson & Johnson Company Profile

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.