Strategic Investment Advisors MI Reduces Its Stock Holdings in Johnson & Johnson (NYSE:JNJ)


Strategic Investment Advisors MI reduced its position in Johnson & Johnson (NYSE:JNJ – Get Rating) by 3.7% during the first quarter, HoldingsChannel reports. The institutional investor held 5,094 shares of the company after selling 194 shares during the period. Strategic Investment Advisors MI’s holdings in Johnson & Johnson were worth $903,000 at the end of the most recent period.

A number of other institutional investors and hedge funds have also recently changed their holdings in the company. Norges Bank acquired a new stake in Johnson & Johnson in the fourth quarter worth approximately $4,172,929,000. BlackRock Inc. increased its stake in Johnson & Johnson by 2.6% in the fourth quarter. BlackRock Inc. now owns 200,021,352 shares of the company valued at $34,217,654,000 after purchasing an additional 4,982,885 shares in the last quarter. GQG Partners LLC increased its stake in Johnson & Johnson by 1,109.4% in the fourth quarter. GQG Partners LLC now owns 3,954,383 shares of the company valued at $676,375,000 after purchasing an additional 3,627,424 shares last quarter. State Street Corp increased its stake in Johnson & Johnson by 1.8% in the fourth quarter. State Street Corp now owns 144,677,639 shares of the company valued at $24,750,004,000 after purchasing an additional 2,492,359 shares last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Johnson & Johnson in the fourth quarter worth approximately $269,447,000. 68.78% of the shares are held by hedge funds and other institutional investors.

Johnson & Johnson Stock up 0.5%

Johnson & Johnson shares opened at $172.12 on Friday. The company has a debt ratio of 0.39, a quick ratio of 1.14 and a current ratio of 1.39. Johnson & Johnson has a 52-week low of $155.72 and a 52-week high of $186.69. The stock has a market capitalization of $452.92 billion, a price/earnings ratio of 25.05, a P/E/G ratio of 3.48 and a beta of 0.63. The company’s 50-day moving average price is $176.25 and its 200-day moving average price is $174.36.

Johnson & Johnson (NYSE:JNJ – Get Rating) last reported results on Tuesday, July 19. The company reported earnings per share (EPS) of $2.59 for the quarter, beating the consensus estimate of $2.57 by $0.02. The company posted revenue of $24.02 billion for the quarter, versus $23.85 billion expected by analysts. Johnson & Johnson had a net margin of 19.21% and a return on equity of 36.56%. The company’s revenue increased 3.0% year over year. In the same quarter last year, the company earned earnings per share of $2.48. Equity research analysts expect Johnson & Johnson to post EPS of 10.05 for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 6. Investors of record on Tuesday, August 23 will receive a dividend of $1.13. This represents an annualized dividend of $4.52 and a yield of 2.63%. The ex-dividend date is Monday, August 22. Johnson & Johnson’s dividend payout ratio (DPR) is currently 65.79%.

Analyst upgrades and downgrades

A number of research analysts have commented on the headline. SVB Leerink cut its price target on Johnson & Johnson shares from $200.00 to $194.00 in a research report on Wednesday. StockNews.com upgraded Johnson & Johnson shares from a “buy” rating to a “strong buy” rating in a Tuesday, May 17 research report. Daiwa Capital Markets assumed coverage for Johnson & Johnson shares in a Wednesday, June 22 research report. They set an “outperformance” rating on the stock. Goldman Sachs Group raised its price target on Johnson & Johnson shares from $163.00 to $181.00 and gave the company a “neutral” rating in a Tuesday, April 12 research report. Finally, Citigroup cut its price target on Johnson & Johnson stock from $205.00 to $201.00 in a research report Wednesday. Four equity research analysts gave the stock a hold rating, six issued a buy rating and one gave the stock a strong buy rating. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $189.89.

Insider Activity at Johnson & Johnson

In related news, CAO Robert J. Decker sold 8,462 Johnson & Johnson shares in a trade on Thursday, May 26. The shares were sold at an average price of $180.00, for a total value of $1,523,160.00. Following the sale, the chief accountant now owns 15,473 shares of the company, valued at $2,785,140. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink. In other Johnson & Johnson news, Executive Vice President Kathryn E. Wengel sold 40,000 shares of the company in a trade on Friday, June 10. The stock was sold at an average price of $173.00, for a total transaction of $6,920,000.00. Following the completion of the transaction, the executive vice president now owns 71,311 shares of the company, valued at $12,336,803. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Additionally, CAO Robert J. Decker sold 8,462 shares of the company in a trade on Thursday, May 26. The shares were sold at an average price of $180.00, for a total value of $1,523,160.00. As a result of the transaction, the chief accounting officer now directly owns 15,473 shares of the company, valued at approximately $2,785,140. The disclosure of this sale can be found here. 0.35% of the shares are currently held by insiders of the company.

Johnson & Johnson profile

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Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures and sells various healthcare products worldwide. The Company’s Consumer Health segment offers baby care products under the JOHNSON’S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the brands AVEENO, CLEAN & CLEAR, DR.

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Institutional ownership by quarter for Johnson & Johnson (NYSE: JNJ)



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