Mill Creek Capital Advisors LLC Cuts Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Key Points

• Mill Creek Capital Advisors LLC reduced its stake in Johnson & Johnson by 4.2%, now holding approximately 238,192 shares worth $39.5 million, making it the firm's 16th largest holding.
• Other hedge funds, including Brighton Jones LLC and Hudson Value Partners LLC, have increased their positions in Johnson & Johnson, contributing to institutional investors owning about 69.55% of the stock.
• Johnson & Johnson announced a quarterly dividend of $1.30 per share to be paid on September 9th, reflecting an annualized yield of 2.9% with a payout ratio of 55.61%.

Mill Creek Capital Advisors LLC trimmed its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 4.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 238,192 shares of the company's stock after selling 10,469 shares during the period. Johnson & Johnson comprises approximately 1.0% of Mill Creek Capital Advisors LLC's investment portfolio, making the stock its 16th largest holding. Mill Creek Capital Advisors LLC's holdings in Johnson & Johnson were worth $39,502,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC raised its stake in Johnson & Johnson by 13.9% in the 4th quarter. Brighton Jones LLC now owns 51,876 shares of the company's stock valued at $7,502,000 after acquiring an additional 6,332 shares during the period. Hudson Value Partners LLC grew its holdings in Johnson & Johnson by 2.5% during the 4th quarter. Hudson Value Partners LLC now owns 41,403 shares of the company's stock valued at $5,648,000 after buying an additional 1,022 shares in the last quarter. GeoWealth Management LLC grew its holdings in Johnson & Johnson by 17.3% during the 4th quarter. GeoWealth Management LLC now owns 21,196 shares of the company's stock valued at $3,065,000 after buying an additional 3,126 shares in the last quarter. Freedom Investment Management Inc. grew its holdings in Johnson & Johnson by 6.6% during the 4th quarter. Freedom Investment Management Inc. now owns 10,156 shares of the company's stock valued at $1,469,000 after buying an additional 626 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in Johnson & Johnson by 6.3% during the 4th quarter. First Trust Advisors LP now owns 1,959,577 shares of the company's stock valued at $283,394,000 after buying an additional 115,494 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $176.76 on Friday. 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 has a fifty-two week low of $140.68 and a fifty-two week high of $177.27. The stock has a 50 day moving average price of $161.28 and a two-hundred day moving average price of $158.39. The company has a market capitalization of $425.70 billion, a P/E ratio of 18.90, a PEG ratio of 2.25 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The firm had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. During the same quarter in the previous year, the company posted $2.82 earnings per share. The business's revenue was up 5.8% on a year-over-year basis. Analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio is currently 55.61%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on JNJ. Leerink Partnrs lowered Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Bank of America boosted their price objective on Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Wall Street Zen lowered Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th. UBS Group boosted their price objective on Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Finally, Guggenheim reaffirmed a "neutral" rating and issued a $167.00 target price (up previously from $164.00) on shares of Johnson & Johnson in a research note on Thursday, July 17th. Nine research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $174.50.

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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