CORDA Investment Management LLC. Has $50.68 Million Stock Position in Johnson & Johnson $JNJ

CORDA Investment Management LLC. reduced its stake in shares of Johnson & Johnson (NYSE:JNJ) by 2.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 207,324 shares of the company’s stock after selling 5,426 shares during the quarter. Johnson & Johnson comprises about 3.5% of CORDA Investment Management LLC.’s investment portfolio, making the stock its 8th largest holding. CORDA Investment Management LLC.’s holdings in Johnson & Johnson were worth $50,678,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Auto Owners Insurance Co raised its position in shares of Johnson & Johnson by 22,225.6% during the 4th quarter. Auto Owners Insurance Co now owns 69,419,308 shares of the company’s stock worth $1,436,633,000 after buying an additional 69,108,368 shares in the last quarter. Norges Bank acquired a new stake in shares of Johnson & Johnson in the 4th quarter worth approximately $6,924,523,000. Capital World Investors bought a new position in shares of Johnson & Johnson in the fourth quarter valued at approximately $2,005,942,000. Diamant Asset Management Inc. boosted its holdings in shares of Johnson & Johnson by 24,436.5% in the first quarter. Diamant Asset Management Inc. now owns 4,473,008 shares of the company’s stock valued at $109,338,000 after acquiring an additional 4,454,778 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Johnson & Johnson by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 240,349,660 shares of the company’s stock valued at $49,740,362,000 after acquiring an additional 3,731,074 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.

Insider Buying and Selling at Johnson & Johnson

In other news, EVP Kathryn E. Wengel sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $241.15, for a total transaction of $2,411,500.00. Following the completion of the sale, the executive vice president directly owned 114,288 shares of the company’s stock, valued at $27,560,551.20. This trade represents a 8.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on JNJ. Wells Fargo & Company upped their target price on Johnson & Johnson from $240.00 to $263.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Barclays lifted their price target on Johnson & Johnson from $234.00 to $255.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 15th. The Goldman Sachs Group boosted their price objective on Johnson & Johnson from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. Citigroup raised their target price on Johnson & Johnson from $285.00 to $298.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Finally, Leerink Partners raised Johnson & Johnson from a “market perform” rating to an “outperform” rating and set a $265.00 target price on the stock in a report on Wednesday, May 13th. Twenty research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $261.26.

Johnson & Johnson Stock Down 1.6%

JNJ stock opened at $253.70 on Wednesday. The firm has a market cap of $610.71 billion, a PE ratio of 29.33, a P/E/G ratio of 2.46 and a beta of 0.24. Johnson & Johnson has a 12 month low of $154.80 and a 12 month high of $269.43. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.03 and a quick ratio of 0.77. The firm has a 50 day simple moving average of $238.18 and a 200 day simple moving average of $233.92.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, April 14th. The company reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.02. The firm had revenue of $24.06 billion for the quarter, compared to analyst estimates of $23.60 billion. Johnson & Johnson had a net margin of 21.83% and a return on equity of 32.60%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.77 earnings per share. Equities research analysts forecast that Johnson & Johnson will post 11.58 earnings per share for the current fiscal year.

Key Stories Impacting Johnson & Johnson

Here are the key news stories impacting Johnson & Johnson this week:

• Positive Sentiment: Analysts expect Johnson & Johnson to post a solid Q2 print, with commentary pointing to an upbeat report even as Stelara faces headwinds. Johnson & Johnson: Analysts see upbeat Q2 print despite Stelara headwinds
• Positive Sentiment: Several preview pieces say JNJ is trading near all-time highs and could still have more upside if earnings and guidance come in strong. Johnson & Johnson Q2 Preview: Stock Near All-Time Highs, Market Expert Sees Rally to $282
• Positive Sentiment: RBC raised its price target on JNJ to $287 from $265 and maintained an outperform rating, reinforcing bullish sentiment.
• Positive Sentiment: Coverage also highlighted JNJ’s strong year-to-date run and defensive healthcare appeal, which has supported investor demand ahead of earnings. Johnson & Johnson Reports Q2 Earnings Tomorrow. What Investors Should Expect.
• Neutral Sentiment: Other articles focused on JNJ as a dividend and income stock, which may support valuation but did not add new material catalysts. How to earn $500 a month from Johnson & Johnson stock ahead of Q2 earnings
• Negative Sentiment: Some commentary noted the stock’s rich valuation after a big rally, suggesting investors may be paying a premium heading into the report. What Lilly’s Peer-Beating Numbers Cost You

About Johnson & Johnson

Johnson & Johnson is a multinational healthcare company headquartered in New Brunswick, New Jersey, that develops, manufactures and markets a broad range of products across pharmaceuticals, medical devices and previously consumer health. Founded in 1886 by the Johnson family, the company has grown into a global healthcare organization with operations and sales in many countries around the world.

The company’s pharmaceuticals business, organized largely under its Janssen research and development organization, focuses on prescription medicines across therapeutic areas such as immunology, infectious disease, oncology and neuroscience.