Mairs & Power Inc. Sells 24,967 Shares of Johnson & Johnson $JNJ

Key Points

• Mairs & Power sold 24,967 Johnson & Johnson shares (a 2.5% reduction), leaving it with 985,502 shares worth $182.73 million and making JNJ 1.7% of the fund’s portfolio (its 21st largest holding).
• Other large institutions mostly increased exposure—Vanguard added ~3.09 million shares, Norges Bank initiated a roughly $4.88 billion position, and firms like Wellington, BNY Mellon and Legal & General also grew stakes, leaving institutional ownership at 69.55%.
• Johnson & Johnson trades with a market cap of about $585.4 billion (P/E ~21.99), reported quarterly EPS of $2.46 on $24.28 billion revenue, and recently paid a quarterly dividend of $1.30 (annualized $5.20, ~2.1% yield); analysts hold a "Moderate Buy" consensus with a $235.91 average target.

Mairs & Power Inc. reduced its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 2.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 985,502 shares of the company's stock after selling 24,967 shares during the period. Johnson & Johnson comprises 1.7% of Mairs & Power Inc.'s portfolio, making the stock its 21st largest holding. Mairs & Power Inc.'s holdings in Johnson & Johnson were worth $182,732,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Johnson & Johnson by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 237,047,859 shares of the company's stock worth $36,209,060,000 after purchasing an additional 3,085,180 shares during the period. Norges Bank bought a new position in Johnson & Johnson during the second quarter valued at $4,877,174,000. Wellington Management Group LLP grew its position in Johnson & Johnson by 3.8% in the third quarter. Wellington Management Group LLP now owns 25,832,777 shares of the company's stock worth $4,789,914,000 after acquiring an additional 956,239 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Johnson & Johnson by 3.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 24,637,649 shares of the company's stock valued at $4,568,313,000 after purchasing an additional 835,146 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in Johnson & Johnson by 2.8% during the third quarter. Legal & General Group Plc now owns 19,450,064 shares of the company's stock worth $3,606,431,000 after buying an additional 532,790 shares during the period. Institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Up 0.6%

NYSE JNJ opened at $243.03 on Tuesday. The company has a market cap of $585.37 billion, a P/E ratio of 21.99, a P/E/G ratio of 2.38 and a beta of 0.34. The business has a fifty day moving average price of $232.69 and a 200 day moving average price of $207.13. Johnson & Johnson has a one year low of $141.50 and a one year high of $251.71. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.77 and a current ratio of 1.03.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings data on Saturday, January 31st. The company reported $2.46 earnings per share for the quarter. The company had revenue of $24.28 billion during the quarter. Johnson & Johnson had a return on equity of 33.04% and a net margin of 28.46%. Research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Tuesday, February 24th. Johnson & Johnson's dividend payout ratio is presently 47.06%.

Wall Street Analyst Weigh In

JNJ has been the subject of a number of recent analyst reports. Leerink Partners boosted their price objective on Johnson & Johnson from $201.00 to $232.00 and gave the company a "market perform" rating in a report on Thursday, January 22nd. TD Cowen boosted their price objective on shares of Johnson & Johnson from $222.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, January 22nd. Wolfe Research increased their price target on shares of Johnson & Johnson from $225.00 to $240.00 and gave the company an "outperform" rating in a research report on Monday, January 5th. Rothschild & Co Redburn increased their price target on Johnson & Johnson from $180.00 to $210.00 and gave the company a "neutral" rating in a research note on Thursday, February 19th. Finally, Scotiabank reissued an "outperform" rating on shares of Johnson & Johnson in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $235.91.

Insider Buying and Selling at Johnson & Johnson

In related news, EVP Vanessa Broadhurst sold 6,197 shares of the business's stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $243.39, for a total transaction of $1,508,287.83. Following the completion of the sale, the executive vice president owned 23,003 shares in the company, valued at $5,598,700.17. The trade was a 21.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy Schmid sold 22,623 shares of the company's stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $244.33, for a total transaction of $5,527,477.59. Following the completion of the transaction, the executive vice president owned 26,769 shares of the company's stock, valued at $6,540,469.77. This represents a 45.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 30,142 shares of company stock worth $7,360,528 in the last three months. 0.16% of the stock is currently owned by corporate insiders.

About Johnson & Johnson

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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