GLOBALT Investments LLC GA Trims Position in Johnson & Johnson (NYSE:JNJ)

GLOBALT Investments LLC GA lessened its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 3.8% in the third quarter, HoldingsChannel.com reports. The fund owned 18,434 shares of the company’s stock after selling 732 shares during the period. GLOBALT Investments LLC GA’s holdings in Johnson & Johnson were worth $2,987,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of JNJ. China Universal Asset Management Co. Ltd. bought a new stake in Johnson & Johnson in the first quarter valued at approximately $765,000. Empowered Funds LLC raised its holdings in Johnson & Johnson by 46.7% in the 1st quarter. Empowered Funds LLC now owns 101,237 shares of the company’s stock worth $16,015,000 after acquiring an additional 32,244 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in Johnson & Johnson in the 1st quarter worth approximately $718,000. Allstate Corp raised its holdings in Johnson & Johnson by 9.2% in the 1st quarter. Allstate Corp now owns 7,940 shares of the company’s stock worth $1,256,000 after acquiring an additional 668 shares during the last quarter. Finally, Edgestream Partners L.P. grew its position in Johnson & Johnson by 18.4% in the 1st quarter. Edgestream Partners L.P. now owns 30,821 shares of the company’s stock worth $4,876,000 after purchasing an additional 4,779 shares during the period. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Up 1.4 %

Shares of NYSE JNJ opened at $154.00 on Monday. The company’s 50-day simple moving average is $161.35 and its 200-day simple moving average is $156.13. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. The firm has a market cap of $370.77 billion, a price-to-earnings ratio of 22.29, a price-to-earnings-growth ratio of 2.74 and a beta of 0.53. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The firm had revenue of $22.47 billion for the quarter, compared to the consensus estimate of $22.17 billion. During the same period last year, the firm posted $2.66 earnings per share. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities analysts predict that Johnson & Johnson will post 9.93 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be issued a $1.24 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 annualized dividend and a dividend yield of 3.22%. Johnson & Johnson’s dividend payout ratio is currently 71.78%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on JNJ shares. Royal Bank of Canada boosted their price objective on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Citigroup boosted their price target on shares of Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Wolfe Research assumed coverage on shares of Johnson & Johnson in a research note on Friday. They issued an “outperform” rating and a $190.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.94.

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the sale, the vice president now directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. This represents a 22.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Company 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.