TD Asset Management Inc Sells 125,667 Shares of Johnson & Johnson (NYSE:JNJ)

Key Points

• TD Asset Management Inc reduced its stake in Johnson & Johnson by 7.3%, selling 125,667 shares and now owns approximately 1.59 million shares valued at $264 million.
• In its latest quarterly report, Johnson & Johnson reported $2.77 EPS, exceeding expectations, with revenues of $23.74 billion, a 5.8% increase from the previous year.
• The company has declared a quarterly dividend of $1.30 per share, set to be paid on September 9th, representing a yield of 3.09% and a payout ratio of 55.61%.

TD Asset Management Inc reduced its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 7.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,592,453 shares of the company's stock after selling 125,667 shares during the period. TD Asset Management Inc owned approximately 0.07% of Johnson & Johnson worth $264,092,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Geode Capital Management LLC grew its position in shares of Johnson & Johnson by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company's stock valued at $8,321,881,000 after purchasing an additional 1,561,036 shares in the last quarter. Northern Trust Corp raised its position in shares of Johnson & Johnson by 12.3% during the 4th quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock valued at $4,456,201,000 after buying an additional 3,363,235 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Johnson & Johnson by 1.8% during the 4th quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company's stock valued at $3,522,447,000 after buying an additional 431,205 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Johnson & Johnson by 26.4% during the 1st quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock valued at $3,844,580,000 after buying an additional 4,842,582 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Johnson & Johnson by 6.5% during the 4th quarter. Invesco Ltd. now owns 19,126,079 shares of the company's stock valued at $2,766,014,000 after buying an additional 1,171,975 shares in the last quarter. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Trading Down 0.1%

Shares of JNJ traded down $0.09 during trading hours on Wednesday, reaching $168.02. 1,987,730 shares of the company traded hands, compared to its average volume of 9,034,078. The company's fifty day moving average price is $156.65 and its two-hundred day moving average price is $156.22. The company has a market capitalization of $404.27 billion, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 2.12 and a beta of 0.41. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99.

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

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.09%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson's payout ratio is currently 55.61%.

Analysts Set New Price Targets

Several research firms have recently weighed in on JNJ. Benchmark upgraded shares of Johnson & Johnson to a "strong-buy" rating in a research report on Thursday, April 24th. Wall Street Zen cut shares of Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Sanford C. Bernstein reiterated a "market perform" rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. UBS Group lifted their target price on shares of Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Finally, Barclays lifted their target price on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Nine equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Johnson & Johnson has an average rating of "Moderate Buy" and an average price target of $174.50.

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.