Kennon Green & Company LLC Lowers Stake in Johnson & Johnson (NYSE:JNJ)

Kennon Green & Company LLC lessened its stake in Johnson & Johnson (NYSE:JNJ) by 24.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,796 shares of the company’s stock after selling 4,400 shares during the period. Johnson & Johnson accounts for about 1.9% of Kennon Green & Company LLC’s portfolio, making the stock its 23rd largest position. Kennon Green & Company LLC’s holdings in Johnson & Johnson were worth $2,016,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Innealta Capital LLC bought a new position in shares of Johnson & Johnson during the 2nd quarter worth $27,000. Christopher J. Hasenberg Inc purchased a new stake in Johnson & Johnson in the first quarter worth about $31,000. MFA Wealth Advisors LLC bought a new position in Johnson & Johnson during the 2nd quarter worth about $43,000. Vermillion & White Wealth Management Group LLC purchased a new position in Johnson & Johnson during the 4th quarter valued at about $44,000. Finally, Grayhawk Investment Strategies Inc. lifted its position in shares of Johnson & Johnson by 528.6% in the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after purchasing an additional 259 shares during the period. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $165.52 on Monday. The business has a fifty day moving average of $159.55 and a 200 day moving average of $153.94. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. The firm has a market capitalization of $398.45 billion, a price-to-earnings ratio of 10.32, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The firm had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. During the same quarter in the previous year, the company posted $2.80 earnings per share. The company’s revenue was up 4.3% compared to the same quarter last year. As a group, research analysts expect that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were given a dividend of $1.24 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a yield of 3.00%. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Insider Buying and Selling at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now owns 18,973 shares in the company, valued at $3,131,683.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on JNJ. Sanford C. Bernstein boosted their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price objective on shares of Johnson & Johnson in a research report on Tuesday, July 30th. TD Cowen reduced their target price on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Daiwa Capital Markets cut shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. Finally, The Goldman Sachs Group reduced their price objective on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $173.21.

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.