Cullen Frost Bankers Inc. Has $51.17 Million Position in Johnson & Johnson $JNJ

Key Points

• Cullen Frost Bankers Inc. reduced its stake in Johnson & Johnson by 2.8% to 334,983 shares, valued at approximately $51.17 million.
• Johnson & Johnson is set to pay a $1.30 quarterly dividend on December 9th, translating to an annualized dividend yield of 2.7%.
• Analysts have a positive outlook on Johnson & Johnson, with several upgrades and an average price target of $199.05, indicating a moderate buy rating.

Cullen Frost Bankers Inc. lowered its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 2.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 334,983 shares of the company's stock after selling 9,664 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in Johnson & Johnson were worth $51,169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in JNJ. GFG Capital LLC acquired a new position in shares of Johnson & Johnson in the second quarter valued at approximately $35,000. Stone House Investment Management LLC bought a new stake in Johnson & Johnson in the first quarter valued at approximately $47,000. 1248 Management LLC bought a new stake in Johnson & Johnson in the first quarter valued at approximately $48,000. von Borstel & Associates Inc. bought a new stake in Johnson & Johnson in the first quarter valued at approximately $49,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in Johnson & Johnson in the first quarter valued at approximately $52,000. Institutional investors and hedge funds own 69.55% of the company's stock.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $192.81 on Thursday. The stock has a market capitalization of $464.35 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 2.25 and a beta of 0.40. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $194.48. The stock's 50 day moving average price is $181.64 and its two-hundred day moving average price is $165.56. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. Johnson & Johnson had a return on equity of 33.08% and a net margin of 27.26%.The company had revenue of $24.02 billion for the quarter. On average, equities analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, November 25th. Johnson & Johnson's dividend payout ratio is presently 50.19%.

Insider Buying and Selling at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the company's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the transaction, the executive vice president directly owned 178,013 shares of the company's stock, valued at $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Royal Bank Of Canada reiterated an "outperform" rating and issued a $209.00 target price on shares of Johnson & Johnson in a report on Friday, October 10th. Weiss Ratings upgraded Johnson & Johnson from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, October 8th. Daiwa America upgraded Johnson & Johnson from a "hold" rating to a "strong-buy" rating in a report on Monday. UBS Group upped their target price on Johnson & Johnson from $190.00 to $214.00 and gave the company a "buy" rating in a report on Tuesday, October 14th. Finally, Wall Street Zen upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $199.05.

Johnson & Johnson Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.

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