Klingenstein Fields & Co. LP Decreases Holdings in Johnson & Johnson (NYSE:JNJ)

Klingenstein Fields & Co. LP cut its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 0.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 244,972 shares of the company’s stock after selling 2,038 shares during the quarter. Johnson & Johnson accounts for approximately 1.6% of Klingenstein Fields & Co. LP’s investment portfolio, making the stock its 21st biggest holding. Klingenstein Fields & Co. LP’s holdings in Johnson & Johnson were worth $39,700,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its holdings in Johnson & Johnson by 16.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after acquiring an additional 3,139,499 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Johnson & Johnson by 10.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock valued at $2,744,979,000 after buying an additional 1,831,751 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Johnson & Johnson by 5.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 14,374,397 shares of the company’s stock valued at $2,100,427,000 after buying an additional 754,200 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Johnson & Johnson by 16.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,147,352 shares of the company’s stock valued at $1,921,565,000 after buying an additional 1,829,257 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in Johnson & Johnson by 5.8% during the 2nd quarter. American Century Companies Inc. now owns 8,014,213 shares of the company’s stock valued at $1,171,357,000 after buying an additional 437,637 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. TD Cowen dropped their price target on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Morgan Stanley lifted their price target on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Sanford C. Bernstein lifted their price target on Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Royal Bank of Canada boosted their target price on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, TD Securities reduced their target price on Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $175.93.

Johnson & Johnson Trading Down 1.2 %

Johnson & Johnson stock opened at $158.24 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The business’s fifty day simple moving average is $163.18 and its two-hundred day simple moving average is $155.68. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85. The company has a market capitalization of $380.98 billion, a price-to-earnings ratio of 22.90, a price-to-earnings-growth ratio of 2.84 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The business had revenue of $22.47 billion for the quarter, compared to the consensus estimate of $22.17 billion. During the same period in the previous year, the company posted $2.66 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities analysts predict that Johnson & Johnson will post 9.94 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s payout ratio is currently 71.78%.

Insider Activity

In other news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.