Payden & Rygel Has $5.35 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

Payden & Rygel lessened its position in shares of Johnson & Johnson (NYSE:JNJ) by 15.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,000 shares of the company’s stock after selling 6,800 shares during the quarter. Payden & Rygel’s holdings in Johnson & Johnson were worth $5,351,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of JNJ. Vanguard Group Inc. lifted its holdings in shares of Johnson & Johnson by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 232,792,559 shares of the company’s stock worth $33,666,460,000 after acquiring an additional 1,772,706 shares during the period. Geode Capital Management LLC lifted its stake in Johnson & Johnson by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company’s stock worth $8,321,881,000 after purchasing an additional 1,561,036 shares during the period. Norges Bank acquired a new stake in Johnson & Johnson during the fourth quarter valued at approximately $4,390,037,000. Wellington Management Group LLP raised its holdings in shares of Johnson & Johnson by 1.8% in the 4th quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company’s stock worth $3,522,447,000 after buying an additional 431,205 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Johnson & Johnson by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,187,082 shares of the company’s stock worth $2,630,216,000 after buying an additional 547,714 shares during the period. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Stock Down 4.3 %

Shares of Johnson & Johnson stock opened at $153.03 on Friday. The business has a fifty day simple moving average of $159.75 and a 200 day simple moving average of $155.91. The stock has a market cap of $368.77 billion, a PE ratio of 23.01, a price-to-earnings-growth ratio of 2.56 and a beta of 0.47. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.05. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The company had revenue of $22.52 billion during the quarter, compared to analysts’ expectations of $22.44 billion. During the same period in the prior year, the business posted $2.29 EPS. Johnson & Johnson’s revenue was up 5.3% on a year-over-year basis. Research analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Insider Transactions at Johnson & Johnson

In other news, VP Robert J. Decker sold 6,999 shares of Johnson & Johnson stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the transaction, the vice president now owns 21,001 shares in the company, valued at $3,483,645.88. The trade was a 25.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Timothy Schmid sold 403 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total value of $62,928.45. Following the sale, the executive vice president now directly owns 15,098 shares of the company’s stock, valued at approximately $2,357,552.70. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on JNJ. Barclays increased their price objective on Johnson & Johnson from $159.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 28th. Bank of America lifted their price target on shares of Johnson & Johnson from $159.00 to $171.00 and gave the company a “neutral” rating in a report on Wednesday, March 5th. Leerink Partners decreased their price objective on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Stifel Nicolaus reduced their target price on Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Finally, Wells Fargo & Company dropped their price target on Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus target price of $171.33.

Johnson & Johnson 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.