Ramsay Stattman Vela & Price Inc. Reduces Position in Johnson & Johnson $JNJ

Key Points

• Ramsay Stattman Vela & Price Inc. reduced its position in Johnson & Johnson by 2.1%, holding 73,942 shares worth approximately $11.3 million as of the latest SEC filing.
• Several analysts have increased their price targets for Johnson & Johnson, with Bank of America setting it at $204 and Sanford C. Bernstein raising it to $193.
• Johnson & Johnson announced a quarterly dividend of $1.30 per share, with an annualized yield of 2.7%, scheduled for payment on December 9th.

Ramsay Stattman Vela & Price Inc. reduced its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 2.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,942 shares of the company's stock after selling 1,573 shares during the period. Johnson & Johnson makes up 2.1% of Ramsay Stattman Vela & Price Inc.'s holdings, making the stock its 18th biggest position. Ramsay Stattman Vela & Price Inc.'s holdings in Johnson & Johnson were worth $11,295,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. GFG Capital LLC purchased a new position in Johnson & Johnson in the 2nd quarter worth approximately $35,000. Stone House Investment Management LLC acquired a new stake in shares of Johnson & Johnson in the first quarter valued at approximately $47,000. 1248 Management LLC purchased a new position in Johnson & Johnson during the first quarter worth approximately $48,000. von Borstel & Associates Inc. acquired a new position in Johnson & Johnson during the first quarter worth $49,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Johnson & Johnson in the 1st quarter valued at $52,000. Hedge funds and other institutional investors own 69.55% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on JNJ shares. Sanford C. Bernstein lifted their price target on Johnson & Johnson from $172.00 to $193.00 and gave the stock a "market perform" rating in a report on Monday, October 6th. Bank of America lifted their target price on shares of Johnson & Johnson from $198.00 to $204.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 15th. Loop Capital set a $190.00 price target on shares of Johnson & Johnson in a research note on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of Johnson & Johnson from $185.00 to $200.00 and gave the company a "neutral" rating in a research report on Tuesday, September 16th. Finally, Daiwa America upgraded Johnson & Johnson from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 20th. Three equities research 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. Based on data from MarketBeat, Johnson & Johnson presently has an average rating of "Moderate Buy" and a consensus price target of $199.05.

Insider Activity

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the sale, the executive vice president owned 178,013 shares of the company's stock, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company's stock.

Johnson & Johnson Stock Down 1.1%

Johnson & Johnson stock opened at $190.38 on Friday. The company has a market capitalization of $458.69 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 2.24 and a beta of 0.40. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.07. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $194.48. The firm has a 50 day moving average price of $182.26 and a 200 day moving average price of $166.25.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. Johnson & Johnson had a return on equity of 32.73% and a net margin of 27.26%.The business had revenue of $24.02 billion during the quarter. Research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, November 25th. Johnson & Johnson's payout ratio is currently 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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