CORDA Investment Management LLC. Trims Position in Johnson & Johnson $JNJ

Key Points

• CORDA Investment Management trimmed its Johnson & Johnson stake by 2.6% in the first quarter, selling 5,426 shares and leaving it with 207,324 shares worth about $50.7 million.
• Insider selling was also reported, with EVP Kathryn E. Wengel selling 10,000 shares on June 11 at an average price of $241.15, reducing her ownership by about 8.05%.
• Wall Street sentiment remains bullish overall: analysts have a consensus Moderate Buy rating with an average price target of $261.26, and several firms recently raised targets as JNJ trades near its 52-week high.

CORDA Investment Management LLC. reduced its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 207,324 shares of the company's stock after selling 5,426 shares during the quarter. Johnson & Johnson makes up about 3.5% of CORDA Investment Management LLC.'s investment portfolio, making the stock its 8th biggest holding. CORDA Investment Management LLC.'s holdings in Johnson & Johnson were worth $50,678,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sierra Capital LLC grew its position in shares of Johnson & Johnson by 0.5% in the 4th quarter. Sierra Capital LLC now owns 8,144 shares of the company's stock worth $1,685,000 after acquiring an additional 41 shares in the last quarter. Beaird Harris Wealth Management LLC raised 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 acquiring an additional 42 shares in the last quarter. Broadleaf Partners LLC lifted its stake in Johnson & Johnson by 0.6% during the fourth quarter. Broadleaf Partners LLC now owns 7,348 shares of the company's stock worth $1,521,000 after purchasing an additional 43 shares during the last quarter. Jessup Wealth Management Inc lifted its stake in Johnson & Johnson by 0.6% during the fourth quarter. Jessup Wealth Management Inc now owns 7,574 shares of the company's stock worth $1,567,000 after purchasing an additional 44 shares during the last quarter. Finally, Plancorp LLC boosted its holdings in Johnson & Johnson by 0.3% in the fourth quarter. Plancorp LLC now owns 15,889 shares of the company's stock worth $3,288,000 after purchasing an additional 45 shares during the period. Institutional investors and hedge funds own 69.55% of the company's stock.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, EVP Kathryn E. Wengel sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $241.15, for a total value of $2,411,500.00. Following the sale, the executive vice president owned 114,288 shares in the company, valued at approximately $27,560,551.20. This trade represents a 8.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.16% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on JNJ shares. Johnson Rice set a $270.00 price target on shares of Johnson & Johnson in a report on Friday, June 26th. Royal Bank Of Canada increased their price objective on shares of Johnson & Johnson from $265.00 to $287.00 and gave the stock an "outperform" rating in a research note on Monday. Weiss Ratings downgraded Johnson & Johnson from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, June 15th. The Goldman Sachs Group upped their target price on Johnson & Johnson from $265.00 to $275.00 and gave the company a "buy" rating in a report on Wednesday, April 15th. Finally, Leerink Partners upgraded Johnson & Johnson from a "market perform" rating to an "outperform" rating and set a $265.00 price target on the stock in a research report on Wednesday, May 13th. Twenty analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $261.26.

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 Down 1.6%

Johnson & Johnson stock opened at $253.70 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.03. Johnson & Johnson has a one year low of $154.80 and a one year high of $269.43. The company has a 50-day simple moving average of $238.18 and a 200-day simple moving average of $233.92. The firm has a market capitalization of $610.71 billion, a P/E ratio of 29.33, a P/E/G ratio of 2.46 and a beta of 0.24.

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 for the quarter, beating the consensus estimate of $2.68 by $0.02. The firm had revenue of $24.06 billion for the quarter, compared to the consensus estimate of $23.60 billion. Johnson & Johnson had a net margin of 21.83% and a return on equity of 32.60%. Johnson & Johnson's quarterly revenue was up 9.9% compared to the same quarter last year. During the same period last year, the firm posted $2.77 EPS. As a group, equities analysts expect that Johnson & Johnson will post 11.58 earnings per share for the current year.

Johnson & Johnson Profile

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.

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