1832 Asset Management L.P. Sells 350,522 Shares of Johnson & Johnson (NYSE:JNJ)

1832 Asset Management L.P. trimmed its position in Johnson & Johnson (NYSE:JNJ) by 21.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,303,221 shares of the company’s stock after selling 350,522 shares during the period. 1832 Asset Management L.P. owned 0.05% of Johnson & Johnson worth $190,479,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in JNJ. Citizens & Northern Corp grew its position in Johnson & Johnson by 3.5% during the second quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock worth $275,000 after buying an additional 63 shares in the last quarter. Carolinas Wealth Consulting LLC grew its holdings in shares of Johnson & Johnson by 0.4% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 16,861 shares of the company’s stock worth $2,643,000 after purchasing an additional 64 shares in the last quarter. Epic Trust Investment Advisors LLC increased its position in shares of Johnson & Johnson by 3.6% in the second quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock worth $268,000 after purchasing an additional 64 shares during the last quarter. Pine Harbor Wealth Management LLC raised its stake in Johnson & Johnson by 1.9% in the second quarter. Pine Harbor Wealth Management LLC now owns 3,472 shares of the company’s stock valued at $507,000 after purchasing an additional 64 shares in the last quarter. Finally, Outfitter Financial LLC grew its stake in Johnson & Johnson by 0.4% in the 2nd quarter. Outfitter Financial LLC now owns 16,632 shares of the company’s stock worth $2,431,000 after buying an additional 65 shares in the last quarter. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Trading Down 0.4 %

Shares of JNJ opened at $164.16 on Friday. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. The firm has a market capitalization of $395.08 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 2.71 and a beta of 0.53. The firm’s 50-day moving average price is $161.30 and its 200-day moving average price is $154.16. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. The firm had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.80 EPS. Sell-side 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. Stockholders of record on Tuesday, August 27th were issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on JNJ. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Monday, September 16th. Daiwa Capital Markets downgraded Johnson & Johnson from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Daiwa America lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a research report on Friday. Finally, Morgan Stanley boosted their price objective on Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average price target of $173.21.

Johnson & Johnson 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.