Lee Danner & Bass Inc. Has $16.66 Million Stock Position in Johnson & Johnson $JNJ

Key Points

• Lee Danner & Bass Inc. reduced its stake in Johnson & Johnson by 5.3%, now holding 109,082 shares worth approximately $16.66 million, making it 15th in their portfolio.
• Johnson & Johnson recently declared a quarterly dividend of $1.30 per share, with an annualized yield of 2.7%, to be paid on December 9th.
• Equities analysts maintain a generally positive outlook on Johnson & Johnson, with an average target price of $199.05 and several analysts issuing "buy" ratings.

Lee Danner & Bass Inc. reduced its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 5.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,082 shares of the company's stock after selling 6,098 shares during the quarter. Johnson & Johnson accounts for 1.3% of Lee Danner & Bass Inc.'s portfolio, making the stock its 15th largest position. Lee Danner & Bass Inc.'s holdings in Johnson & Johnson were worth $16,662,000 as of its most recent filing with the Securities and Exchange Commission.

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

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $190.38 on Friday. The company's 50-day moving average is $182.26 and its 200 day moving average is $166.13. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.07. The company has a market capitalization of $458.69 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 2.26 and a beta of 0.40. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $194.48.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced 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 for the quarter. Johnson & Johnson had a return on equity of 32.73% and a net margin of 27.26%. On average, equities research analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th will be issued a dividend of $1.30 per share. The ex-dividend date is Tuesday, November 25th. This represents a $5.20 annualized dividend and a dividend yield of 2.7%. Johnson & Johnson's dividend payout ratio (DPR) is presently 50.19%.

Insider Buying and Selling at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the firm'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 directly owned 178,013 shares in the company, valued at $31,652,491.53. This trade represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on JNJ shares. Sanford C. Bernstein upped their price target on shares of Johnson & Johnson from $172.00 to $193.00 and gave the company a "market perform" rating in a research note on Monday, October 6th. Cowen restated a "buy" rating on shares of Johnson & Johnson in a research note on Tuesday, October 14th. Royal Bank Of Canada restated an "outperform" rating and issued a $209.00 price target on shares of Johnson & Johnson in a research note on Friday, October 10th. Daiwa Capital Markets raised shares of Johnson & Johnson from a "neutral" rating to an "outperform" rating and set a $203.00 price objective for the company in a research report on Monday, October 20th. Finally, Weiss Ratings raised shares of Johnson & Johnson from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, October 8th. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $199.05.

About Johnson & Johnson

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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