Violich Capital Management Inc. Decreases Holdings in Johnson & Johnson $JNJ

Key Points

• Violich Capital Management Inc. has reduced its holdings in Johnson & Johnson by 12.3% in Q2, now owning 88,336 shares valued at approximately $13.5 million.
• Several institutional investors have acquired new stakes in Johnson & Johnson, making up 69.55% of the company's total stock ownership.
• Johnson & Johnson recently announced a quarterly dividend of $1.30 per share, representing a 2.7% yield, with a payout ratio of 50.19%.

Violich Capital Management Inc. reduced its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 12.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 88,336 shares of the company's stock after selling 12,404 shares during the quarter. Johnson & Johnson makes up 1.9% of Violich Capital Management Inc.'s investment portfolio, making the stock its 12th biggest holding. Violich Capital Management Inc.'s holdings in Johnson & Johnson were worth $13,493,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in JNJ. GFG Capital LLC acquired a new stake in Johnson & Johnson during the 2nd quarter worth $35,000. Stone House Investment Management LLC purchased a new position in shares of Johnson & Johnson during the first quarter worth about $47,000. 1248 Management LLC acquired a new stake in shares of Johnson & Johnson during the first quarter worth about $48,000. von Borstel & Associates Inc. purchased a new stake in shares of Johnson & Johnson in the 1st quarter valued at about $49,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Johnson & Johnson in the 1st quarter valued at about $52,000. Institutional investors and hedge funds own 69.55% of the company's stock.

Insider Activity at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 178,013 shares of the company's stock, valued at $31,652,491.53. This trade represents a 24.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $193.27 on Monday. The stock has a market capitalization of $465.45 billion, a P/E ratio of 18.65, a P/E/G ratio of 2.27 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 1.01. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $194.40. The company's fifty day moving average is $180.49 and its two-hundred day moving average is $164.90.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 33.08%. The business had revenue of $24.02 billion for the quarter. On average, sell-side analysts predict 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, December 9th. Stockholders of record on Tuesday, November 25th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, November 25th. Johnson & Johnson's dividend payout ratio is 50.19%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. JPMorgan Chase & Co. lifted their price target on Johnson & Johnson from $185.00 to $200.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 16th. Cowen reaffirmed a "buy" rating on shares of Johnson & Johnson in a report on Tuesday, October 14th. Morgan Stanley set a $190.00 price target on shares of Johnson & Johnson in a research note on Wednesday. UBS Group lifted their price objective on shares of Johnson & Johnson from $190.00 to $214.00 and gave the company a "buy" rating in a research note on Tuesday, October 14th. Finally, Piper Sandler reiterated an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Johnson & Johnson currently has an average rating of "Moderate Buy" and a consensus price target of $199.88.

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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