Nordea Investment Management AB Sells 180,139 Shares of Johnson & Johnson $JNJ

Key Points

• Nordea Investment Management AB reduced its stake in Johnson & Johnson by 2.8%, selling 180,139 shares, which now represent 0.9% of its investment portfolio, valued at approximately $951 million.
• Multiple institutional investors, including Commons Capital LLC and WealthPlan Investment Management LLC, increased their positions in Johnson & Johnson during the same quarter, reflecting overall investor confidence as 69.55% of the stock is held by institutional investors.
• After recent price target adjustments by major analysts, Johnson & Johnson now has a consensus target price of $199.59, with recent ratings indicating a transition towards a "Moderate Buy".

Nordea Investment Management AB trimmed its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 2.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,259,259 shares of the company's stock after selling 180,139 shares during the period. Johnson & Johnson accounts for about 0.9% of Nordea Investment Management AB's investment portfolio, making the stock its 18th largest position. Nordea Investment Management AB owned approximately 0.26% of Johnson & Johnson worth $951,094,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Commons Capital LLC raised its stake in shares of Johnson & Johnson by 19.0% in the 2nd quarter. Commons Capital LLC now owns 1,826 shares of the company's stock valued at $279,000 after acquiring an additional 291 shares in the last quarter. Harbor Asset Planning Inc. bought a new position in Johnson & Johnson in the 2nd quarter worth approximately $142,000. Werba Rubin Papier Wealth Management increased its position in Johnson & Johnson by 19.5% in the 2nd quarter. Werba Rubin Papier Wealth Management now owns 2,892 shares of the company's stock worth $442,000 after buying an additional 471 shares during the period. Turtle Creek Wealth Advisors LLC bought a new position in Johnson & Johnson in the 2nd quarter worth approximately $1,224,000. Finally, WealthPlan Investment Management LLC increased its position in Johnson & Johnson by 20.2% in the 2nd quarter. WealthPlan Investment Management LLC now owns 70,070 shares of the company's stock worth $10,703,000 after buying an additional 11,759 shares during the period. 69.55% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the company's stock in a transaction on 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 sale, the executive vice president directly owned 178,013 shares in the company, valued at $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.16% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. HSBC lifted their price target on Johnson & Johnson from $188.00 to $210.00 in a research report on Tuesday, September 30th. Bank of America lifted their price target on Johnson & Johnson from $198.00 to $204.00 and gave the stock a "neutral" rating in a research report on Wednesday. Morgan Stanley set a $190.00 price target on Johnson & Johnson in a research report on Wednesday. JPMorgan Chase & Co. boosted their price objective on Johnson & Johnson from $185.00 to $200.00 and gave the company a "neutral" rating in a research report on Tuesday, September 16th. Finally, Guggenheim upgraded Johnson & Johnson from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $167.00 to $206.00 in a research report on Tuesday, September 23rd. Two investment 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $199.59.

Johnson & Johnson Stock Performance

JNJ opened at $193.27 on Friday. The stock has a market cap of $465.45 billion, a PE ratio of 18.65, a P/E/G ratio of 2.27 and a beta of 0.40. The company has a current ratio of 1.01, a quick ratio of 0.76 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 stock's 50 day simple moving average is $180.49 and its 200-day simple moving average is $164.86.

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

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Tuesday, November 25th. Johnson & Johnson's dividend payout ratio is 50.19%.

Johnson & Johnson 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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