Johnson Investment Counsel Inc. Reduces Holdings in Johnson & Johnson $JNJ

Johnson Investment Counsel Inc. decreased its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 6.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 189,105 shares of the company’s stock after selling 12,476 shares during the period. Johnson Investment Counsel Inc.’s holdings in Johnson & Johnson were worth $28,886,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Nuveen LLC acquired a new stake in Johnson & Johnson during the 1st quarter valued at approximately $1,369,188,000. Bank of New York Mellon Corp lifted its holdings in Johnson & Johnson by 26.4% in the first quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company’s stock valued at $3,844,580,000 after acquiring an additional 4,842,582 shares during the period. Pacer Advisors Inc. lifted its holdings in Johnson & Johnson by 1,382.0% in the first quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company’s stock valued at $502,509,000 after acquiring an additional 2,825,626 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Johnson & Johnson by 159.6% in the second quarter. Assenagon Asset Management S.A. now owns 4,159,260 shares of the company’s stock valued at $635,327,000 after acquiring an additional 2,557,388 shares during the period. Finally, Kingstone Capital Partners Texas LLC acquired a new position in Johnson & Johnson in the second quarter valued at approximately $401,420,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Up 0.1%

NYSE JNJ opened at $190.88 on Tuesday. The business has a fifty day moving average price of $178.88 and a 200 day moving average price of $163.97. Johnson & Johnson has a one year low of $140.68 and a one year high of $192.10. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. The company has a market cap of $459.71 billion, a P/E ratio of 20.42, a P/E/G ratio of 2.40 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%.The firm had revenue of $24.02 billion during the quarter. Research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, August 26th. Johnson & Johnson’s dividend payout ratio is currently 55.61%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Wall Street Zen raised Johnson & Johnson from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Barclays boosted their price target on Johnson & Johnson from $165.00 to $176.00 and gave the company an “equal weight” rating in a report on Thursday, July 17th. The Goldman Sachs Group upped their target price on Johnson & Johnson from $186.00 to $212.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. JPMorgan Chase & Co. upped their target price on Johnson & Johnson from $185.00 to $200.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 16th. Finally, Weiss Ratings raised Johnson & Johnson from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $192.94.

Insider Buying and Selling

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the company’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $177.81, for a total value of $10,041,108.51. Following the completion of the sale, the executive vice president directly owned 178,013 shares in the company, valued at $31,652,491.53. This represents a 24.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.16% of the company’s stock.

About Johnson & Johnson

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.