Cadence Bank Cuts Position in Johnson & Johnson (NYSE:JNJ)

Cadence Bank lowered its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 1.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,875 shares of the company’s stock after selling 360 shares during the quarter. Cadence Bank’s holdings in Johnson & Johnson were worth $5,166,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA grew its position in shares of Johnson & Johnson by 10.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock valued at $2,744,979,000 after purchasing an additional 1,831,751 shares during the period. FMR LLC raised its holdings in shares of Johnson & Johnson by 7.4% during the third quarter. FMR LLC now owns 18,316,920 shares of the company’s stock valued at $2,968,440,000 after acquiring an additional 1,265,748 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Johnson & Johnson by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock valued at $2,858,543,000 after acquiring an additional 102,502 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Johnson & Johnson by 5.5% in the second quarter. Ameriprise Financial Inc. now owns 14,374,397 shares of the company’s stock worth $2,100,427,000 after acquiring an additional 754,200 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Johnson & Johnson by 16.2% during the second quarter. Dimensional Fund Advisors LP now owns 13,147,352 shares of the company’s stock worth $1,921,565,000 after purchasing an additional 1,829,257 shares in the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $154.51 on Wednesday. The firm has a 50 day moving average of $159.73 and a two-hundred day moving average of $156.39. The stock has a market capitalization of $372.00 billion, a PE ratio of 22.36, a P/E/G ratio of 2.77 and a beta of 0.53. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85.

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

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders 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 yield of 3.21%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is 71.78%.

Insider Activity

In related news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction 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 in the company, valued at $3,131,683.38. This trade represents a 22.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on JNJ shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Wolfe Research assumed coverage on shares of Johnson & Johnson in a research note on Friday, November 15th. They set an “outperform” rating and a $190.00 price objective for the company. Morgan Stanley boosted their target price on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Royal Bank of Canada lifted their price objective on Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Guggenheim upped their target price on Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $175.94.

About Johnson & Johnson

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.