Johnson & Johnson $JNJ Stock Position Lessened by Applied Finance Capital Management LLC

Key Points

• Applied Finance Capital Management LLC reduced its holdings in Johnson & Johnson by 6.5%, now owning 30,106 shares valued at approximately $4,599,000.
• Goldman Sachs increased its target price for Johnson & Johnson from $186.00 to $212.00, reflecting a positive outlook for the stock.
• The company declared a quarterly dividend of $1.30, with an annualized yield of 2.7%, payable on December 9th.

Applied Finance Capital Management LLC decreased its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 6.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,106 shares of the company's stock after selling 2,079 shares during the quarter. Applied Finance Capital Management LLC's holdings in Johnson & Johnson were worth $4,599,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Ellis Investment Partners LLC grew its stake in shares of Johnson & Johnson by 0.7% in the second quarter. Ellis Investment Partners LLC now owns 8,559 shares of the company's stock worth $1,307,000 after purchasing an additional 62 shares in the last quarter. Cypress Wealth Services LLC boosted its stake in Johnson & Johnson by 0.9% during the second quarter. Cypress Wealth Services LLC now owns 6,634 shares of the company's stock valued at $1,013,000 after buying an additional 62 shares in the last quarter. Horizon Bancorp Inc. IN boosted its stake in Johnson & Johnson by 11.2% during the second quarter. Horizon Bancorp Inc. IN now owns 636 shares of the company's stock valued at $97,000 after buying an additional 64 shares in the last quarter. Global Strategic Investment Solutions LLC boosted its stake in Johnson & Johnson by 3.5% during the second quarter. Global Strategic Investment Solutions LLC now owns 1,925 shares of the company's stock valued at $294,000 after buying an additional 65 shares in the last quarter. Finally, JSF Financial LLC boosted its stake in Johnson & Johnson by 2.2% during the second quarter. JSF Financial LLC now owns 2,993 shares of the company's stock valued at $457,000 after buying an additional 65 shares in the last quarter. Institutional investors own 69.55% of the company's stock.

Analyst Upgrades and Downgrades

JNJ has been the subject of several research reports. The Goldman Sachs Group raised their target price on Johnson & Johnson from $186.00 to $212.00 and gave the company a "buy" rating in a research note on Thursday, October 9th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $209.00 target price on shares of Johnson & Johnson in a research note on Friday, October 10th. HSBC raised their target price on Johnson & Johnson from $188.00 to $210.00 in a research note on Tuesday, September 30th. Cowen reiterated a "buy" rating on shares of Johnson & Johnson in a research report on Tuesday. Finally, Sanford C. Bernstein increased their price target on Johnson & Johnson from $172.00 to $193.00 and gave the company a "market perform" rating in a research report on Monday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $199.59.

Johnson & Johnson Trading Up 0.6%

NYSE:JNJ opened at $193.27 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $194.40. The firm has a market capitalization of $465.45 billion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 2.27 and a beta of 0.40. The stock has a fifty day simple moving average of $180.49 and a 200 day simple moving average of $164.86.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share 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%. Sell-side analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 25th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, November 25th. Johnson & Johnson's dividend payout ratio is currently 50.19%.

Insider Transactions at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $177.81, for a total value of $10,041,108.51. Following the completion of the sale, the executive vice president directly owned 178,013 shares of the company's stock, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company's stock.

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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