Hamilton Point Investment Advisors LLC Cuts Stake in Johnson & Johnson $JNJ

Key Points

• Hamilton Point Investment Advisors LLC reduced its stake in Johnson & Johnson by 5.8% in the second quarter, owning 40,246 shares worth approximately $6.15 million after selling 2,465 shares.
• In the latest quarter, Johnson & Johnson reported $2.26 earnings per share and $24.02 billion in revenue, forecasting an EPS of 10.58 for the current year.
• Johnson & Johnson announced a quarterly dividend of $1.30, with an annual dividend yield of 2.7%, set to be paid on December 9th to stockholders of record by November 25th.

Hamilton Point Investment Advisors LLC lowered its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 5.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,246 shares of the company's stock after selling 2,465 shares during the quarter. Hamilton Point Investment Advisors LLC's holdings in Johnson & Johnson were worth $6,148,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in JNJ. Nuveen LLC purchased a new stake in shares of Johnson & Johnson during the first quarter worth about $1,369,188,000. Bank of New York Mellon Corp grew its position in shares of Johnson & Johnson by 26.4% during the first quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock worth $3,844,580,000 after purchasing an additional 4,842,582 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Johnson & Johnson by 1,382.0% during the first quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company's stock worth $502,509,000 after purchasing an additional 2,825,626 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Johnson & Johnson by 159.6% during the second quarter. Assenagon Asset Management S.A. now owns 4,159,260 shares of the company's stock worth $635,327,000 after purchasing an additional 2,557,388 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in shares of Johnson & Johnson during the second quarter worth about $401,420,000. Hedge funds and other institutional investors own 69.55% of the company's stock.

Insider Transactions at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the business's stock in a transaction 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 completion of the transaction, the executive vice president owned 178,013 shares in the company, valued at $31,652,491.53. The trade was a 24.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is currently owned by insiders.

Johnson & Johnson Price Performance

NYSE:JNJ opened at $191.79 on Friday. The firm has a market capitalization of $461.90 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 2.40 and a beta of 0.40. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $194.40. The business has a 50 day simple moving average of $180.09 and a 200-day simple moving average of $164.52. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. The business had revenue of $24.02 billion during the quarter. Johnson & Johnson had a return on equity of 33.08% and a net margin of 27.26%. Equities analysts forecast that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, November 25th. Johnson & Johnson's dividend payout ratio (DPR) is presently 55.61%.

Wall Street Analyst Weigh In

JNJ has been the subject of several research analyst reports. Wall Street Zen upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Barclays raised their price target on Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Citigroup raised their price target on Johnson & Johnson from $213.00 to $215.00 and gave the company a "buy" rating in a report on Wednesday. UBS Group raised their price target on Johnson & Johnson from $190.00 to $214.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Stifel Nicolaus raised their price target on Johnson & Johnson from $165.00 to $190.00 and gave the company a "hold" rating in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $199.59.

Johnson & Johnson Company 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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