Keybank National Association OH Cuts Stake in Johnson & Johnson $JNJ

Keybank National Association OH decreased its holdings in Johnson & Johnson (NYSE:JNJ) by 2.6% in the second quarter, Holdings Channel.com reports. The firm owned 1,111,120 shares of the company’s stock after selling 29,490 shares during the period. Keybank National Association OH’s holdings in Johnson & Johnson were worth $169,724,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Greenup Street Wealth Management LLC boosted its holdings in Johnson & Johnson by 3.1% during the 2nd quarter. Greenup Street Wealth Management LLC now owns 2,021 shares of the company’s stock valued at $309,000 after acquiring an additional 60 shares during the period. Ellis Investment Partners LLC boosted its holdings in Johnson & Johnson by 0.7% during the 2nd quarter. Ellis Investment Partners LLC now owns 8,559 shares of the company’s stock valued at $1,307,000 after acquiring an additional 62 shares during the period. Cypress Wealth Services LLC boosted its holdings in Johnson & Johnson by 0.9% during the 2nd quarter. Cypress Wealth Services LLC now owns 6,634 shares of the company’s stock valued at $1,013,000 after acquiring an additional 62 shares during the period. Horizon Bancorp Inc. IN boosted its holdings in Johnson & Johnson by 11.2% during the 2nd quarter. Horizon Bancorp Inc. IN now owns 636 shares of the company’s stock valued at $97,000 after acquiring an additional 64 shares during the period. Finally, Global Strategic Investment Solutions LLC boosted its holdings in Johnson & Johnson by 3.5% during the 2nd quarter. Global Strategic Investment Solutions LLC now owns 1,925 shares of the company’s stock valued at $294,000 after acquiring an additional 65 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on JNJ. Wells Fargo & Company set a $212.00 target price on Johnson & Johnson and gave the company an “overweight” rating in a report on Friday, October 3rd. UBS Group increased their target price on Johnson & Johnson from $190.00 to $214.00 and gave the company a “buy” rating in a report on Tuesday, October 14th. The Goldman Sachs Group increased their target price on Johnson & Johnson from $186.00 to $212.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Barclays increased their price objective on Johnson & Johnson from $165.00 to $176.00 and gave the stock an “equal weight” rating in a report on Thursday, July 17th. Finally, Erste Group Bank raised Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus target price of $199.05.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $186.39 on Thursday. The company has a 50-day simple moving average of $182.88 and a two-hundred day simple moving average of $167.17. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a market capitalization of $449.07 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 2.20 and a beta of 0.40. Johnson & Johnson has a one year low of $140.68 and a one year high of $194.48.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. The firm had revenue of $24.02 billion during the quarter. Johnson & Johnson had a return on equity of 32.73% and a net margin of 27.26%. On average, analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Tuesday, November 25th. Johnson & Johnson’s payout ratio is 50.19%.

Insider Buying and Selling at Johnson & Johnson

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

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.