Rhumbline Advisers Trims Stock Position in Johnson & Johnson $JNJ

Rhumbline Advisers trimmed its holdings in Johnson & Johnson (NYSE:JNJ) by 2.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 4,062,429 shares of the company’s stock after selling 95,647 shares during the period. Johnson & Johnson makes up about 0.5% of Rhumbline Advisers’ holdings, making the stock its 21st largest holding. Rhumbline Advisers owned approximately 0.17% of Johnson & Johnson worth $620,536,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GFG Capital LLC acquired a new stake in shares of Johnson & Johnson during the 2nd quarter worth about $35,000. Stone House Investment Management LLC acquired a new stake in shares of Johnson & Johnson during the first quarter valued at about $47,000. 1248 Management LLC purchased a new stake in shares of Johnson & Johnson in the 1st quarter valued at approximately $48,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Johnson & Johnson in the 1st quarter worth approximately $52,000. Finally, Pandora Wealth Inc. purchased a new position in shares of Johnson & Johnson during the 1st quarter worth approximately $65,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

JNJ has been the topic of a number of research analyst reports. Cowen reissued a “buy” rating on shares of Johnson & Johnson in a research report on Tuesday, October 14th. Raymond James Financial lifted their price objective on Johnson & Johnson from $174.00 to $209.00 and gave the company an “outperform” rating in a research note on Wednesday, October 15th. Daiwa America raised Johnson & Johnson from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Stifel Nicolaus lifted their target price on Johnson & Johnson from $165.00 to $190.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. Finally, Morgan Stanley set a $190.00 price target on shares of Johnson & Johnson in a research note on Wednesday, October 15th. Four analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $201.05.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $203.88 on Friday. 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 company has a market cap of $491.21 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 2.19 and a beta of 0.38. The stock’s 50-day moving average is $188.25 and its two-hundred day moving average is $171.55. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $206.94.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. Johnson & Johnson had a return on equity of 32.73% and a net margin of 27.26%.The business had revenue of $24.02 billion during the quarter. Analysts forecast 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 will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be given a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.6%. Johnson & Johnson’s dividend payout ratio is currently 50.19%.

Insider Buying and Selling at Johnson & Johnson

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

Johnson & Johnson Company 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.