Carnegie Investment Counsel Sells 34,449 Shares of Johnson & Johnson $JNJ

Key Points

• Carnegie Investment Counsel reduced its Johnson & Johnson stake by 21.5% in the first quarter, selling 34,449 shares and leaving it with 125,643 shares valued at about $30.7 million.
• Johnson & Johnson remains heavily owned by institutions, with hedge funds and other institutional investors controlling 69.55% of the stock despite some recent portfolio changes.
• Investor sentiment is still broadly positive ahead of earnings, with analysts expecting a solid Q2, several firms raising price targets, and the stock trading near its 52-week high after a strong run.

Carnegie Investment Counsel lessened its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 21.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,643 shares of the company's stock after selling 34,449 shares during the period. Carnegie Investment Counsel's holdings in Johnson & Johnson were worth $30,712,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in JNJ. Sierra Capital LLC lifted its stake in Johnson & Johnson by 0.5% during the fourth quarter. Sierra Capital LLC now owns 8,144 shares of the company's stock worth $1,685,000 after purchasing an additional 41 shares during the last quarter. Beaird Harris Wealth Management LLC increased its position in shares of Johnson & Johnson by 1.8% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 2,422 shares of the company's stock valued at $501,000 after purchasing an additional 42 shares during the last quarter. Broadleaf Partners LLC raised its holdings in shares of Johnson & Johnson by 0.6% during the 4th quarter. Broadleaf Partners LLC now owns 7,348 shares of the company's stock valued at $1,521,000 after buying an additional 43 shares in the last quarter. Jessup Wealth Management Inc lifted its stake in shares of Johnson & Johnson by 0.6% in the 4th quarter. Jessup Wealth Management Inc now owns 7,574 shares of the company's stock valued at $1,567,000 after acquiring an additional 44 shares during the last quarter. Finally, Plancorp LLC boosted its holdings in Johnson & Johnson by 0.3% during the 4th quarter. Plancorp LLC now owns 15,889 shares of the company's stock valued at $3,288,000 after acquiring an additional 45 shares during the period. Hedge funds and other institutional investors own 69.55% of the company's stock.

More Johnson & Johnson News

Here are the key news stories impacting Johnson & Johnson this week:

• Positive Sentiment: Analysts expect Johnson & Johnson to post a solid Q2 print, with commentary pointing to an upbeat report even as Stelara faces headwinds. Johnson & Johnson: Analysts see upbeat Q2 print despite Stelara headwinds
• Positive Sentiment: Several preview pieces say JNJ is trading near all-time highs and could still have more upside if earnings and guidance come in strong. Johnson & Johnson Q2 Preview: Stock Near All-Time Highs, Market Expert Sees Rally to $282
• Positive Sentiment: RBC raised its price target on JNJ to $287 from $265 and maintained an outperform rating, reinforcing bullish sentiment.
• Positive Sentiment: Coverage also highlighted JNJ’s strong year-to-date run and defensive healthcare appeal, which has supported investor demand ahead of earnings. Johnson & Johnson Reports Q2 Earnings Tomorrow. What Investors Should Expect.
• Neutral Sentiment: Other articles focused on JNJ as a dividend and income stock, which may support valuation but did not add new material catalysts. How to earn $500 a month from Johnson & Johnson stock ahead of Q2 earnings
• Negative Sentiment: Some commentary noted the stock’s rich valuation after a big rally, suggesting investors may be paying a premium heading into the report. What Lilly's Peer-Beating Numbers Cost You

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $253.70 on Wednesday. The firm has a market capitalization of $610.71 billion, a price-to-earnings ratio of 29.33, a PEG ratio of 2.46 and a beta of 0.24. The stock has a fifty day moving average of $238.18 and a 200 day moving average of $233.92. Johnson & Johnson has a 52 week low of $154.80 and a 52 week high of $269.43. The company has a quick ratio of 0.77, a current ratio of 1.03 and a debt-to-equity ratio of 0.46.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings data on Tuesday, April 14th. The company reported $2.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.68 by $0.02. Johnson & Johnson had a net margin of 21.83% and a return on equity of 32.60%. The business had revenue of $24.06 billion for the quarter, compared to the consensus estimate of $23.60 billion. During the same period in the previous year, the firm earned $2.77 EPS. The company's quarterly revenue was up 9.9% compared to the same quarter last year. As a group, research analysts expect that Johnson & Johnson will post 11.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Stifel Nicolaus raised their price target on Johnson & Johnson from $220.00 to $250.00 and gave the stock a "hold" rating in a research report on Wednesday, April 15th. Weiss Ratings cut shares of Johnson & Johnson from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, June 15th. Citigroup lifted their target price on shares of Johnson & Johnson from $285.00 to $298.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Guggenheim upped their price target on shares of Johnson & Johnson from $266.00 to $270.00 and gave the company a "buy" rating in a report on Friday, June 26th. Finally, HSBC set a $290.00 price target on shares of Johnson & Johnson and gave the stock a "buy" rating in a report on Monday, July 6th. Twenty equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $261.26.

Insider Activity

In related news, EVP Kathryn E. Wengel sold 10,000 shares of the business's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $241.15, for a total transaction of $2,411,500.00. Following the transaction, the executive vice president owned 114,288 shares in the company, valued at $27,560,551.20. The trade was a 8.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is owned by corporate insiders.

About Johnson & Johnson

Johnson & Johnson is a multinational healthcare company headquartered in New Brunswick, New Jersey, that develops, manufactures and markets a broad range of products across pharmaceuticals, medical devices and previously consumer health. Founded in 1886 by the Johnson family, the company has grown into a global healthcare organization with operations and sales in many countries around the world.

The company's pharmaceuticals business, organized largely under its Janssen research and development organization, focuses on prescription medicines across therapeutic areas such as immunology, infectious disease, oncology and neuroscience.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.