Johnson & Johnson (NYSE:JNJ) Holdings Cut by Core Alternative Capital

Core Alternative Capital cut its position in shares of Johnson & Johnson (NYSE:JNJ) by 11.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,213 shares of the company’s stock after selling 8,414 shares during the quarter. Johnson & Johnson makes up 1.9% of Core Alternative Capital’s investment portfolio, making the stock its 9th largest position. Core Alternative Capital’s holdings in Johnson & Johnson were worth $9,678,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Meridian Financial Partners LLC acquired a new stake in shares of Johnson & Johnson in the second quarter worth approximately $1,626,000. Summit Financial Wealth Advisors LLC boosted its holdings in shares of Johnson & Johnson by 26.3% in the 1st quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock valued at $853,000 after purchasing an additional 1,122 shares during the last quarter. Gilbert & Cook Inc. grew its stake in shares of Johnson & Johnson by 3.3% during the 4th quarter. Gilbert & Cook Inc. now owns 9,111 shares of the company’s stock valued at $1,428,000 after buying an additional 288 shares during the period. Franklin Parlapiano Turner & Welch LLC raised its position in shares of Johnson & Johnson by 0.7% in the 1st quarter. Franklin Parlapiano Turner & Welch LLC now owns 47,186 shares of the company’s stock worth $7,464,000 after buying an additional 325 shares during the period. Finally, Capital Asset Advisory Services LLC grew its position in Johnson & Johnson by 8.8% during the first quarter. Capital Asset Advisory Services LLC now owns 26,539 shares of the company’s stock valued at $4,044,000 after acquiring an additional 2,151 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

JNJ has been the topic of a number of research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a report on Monday, September 23rd. TD Cowen decreased their price objective on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. TD Securities cut their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price target on shares of Johnson & Johnson in a research report on Friday, September 20th. Finally, The Goldman Sachs Group cut their price objective on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus target price of $173.21.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $161.40 on Monday. 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 has a fifty-two week low of $143.13 and a fifty-two week high of $168.85. The business has a 50 day moving average price of $162.15 and a two-hundred day moving average price of $154.16. The firm has a market cap of $388.44 billion, a PE ratio of 10.06, a price-to-earnings-growth ratio of 2.69 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $22.33 billion. During the same quarter in the previous year, the firm earned $2.80 earnings per share. The business’s revenue was up 4.3% compared to the same quarter last year. Sell-side analysts expect that Johnson & Johnson will post 10.02 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were paid a $1.24 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a yield of 3.07%. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

Insider Activity at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the transaction, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.16% of the stock is owned by corporate insiders.

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.