First Long Island Investors LLC reduced its holdings of Johnson & Johnson stock (NYSE:JNJ – Get a rating) by 3.2% in the 1st quarter, according to its most recent communication to the Securities and Exchange Commission (SEC). The fund held 247,269 shares of the company after selling 8,227 shares during the period. Johnson & Johnson accounts for approximately 3.7% of First Long Island Investors LLC’s investment portfolio, making the stock its 6th largest position. First Long Island Investors LLC’s holdings in Johnson & Johnson were worth $43,823,000 at the end of the last quarter.
A number of other major investors have also recently changed their holdings in JNJ. BlackRock Inc. increased its position in Johnson & Johnson by 2.6% during the 4th quarter. BlackRock Inc. now owns 200,021,352 shares of the company worth $34,217,654,000 after purchasing an additional 4,982,885 shares in the last quarter. State Street Corp increased its stake in Johnson & Johnson shares by 1.8% during the fourth quarter. State Street Corp now owns 144,677,639 shares of the company worth $24,750,004,000 after purchasing an additional 2,492,359 shares in the last quarter. Geode Capital Management LLC increased its equity stake in Johnson & Johnson by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 44,405,610 shares of the company worth $7,576,867,000 after purchasing an additional 1,084,834 shares last quarter. Norges Bank bought a new position in shares of Johnson & Johnson in the 4th quarter valued at $4,172,929,000. Finally, Legal & General Group Plc increased its position in Johnson & Johnson by 5.8% during the 4th quarter. Legal & General Group Plc now owns 17,420,146 shares in the company worth $2,980,062,000 after acquiring an additional 948,306 shares in the last quarter. Institutional investors and hedge funds own 68.78% of the company’s shares.
Insider Buying and Selling at Johnson & Johnson
In other news, CAD Robert J. Decker sold 8,462 shares in a trade dated Thursday, May 26. The shares were sold at an average price of $180.00, for a total transaction of $1,523,160.00. As a result of the transaction, the accounting chief now owns 15,473 shares of the company, valued at approximately $2,785,140. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via the SEC website. Separately, CAO Robert J. Decker sold 8,462 shares in a trade on Thursday, May 26. The stock was 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 sale was disclosed in an SEC filing, which is available via the SEC website. Also, VPE Kathryn E. Wengel sold 40,000 Johnson & Johnson shares in a trade on Friday, June 10. The shares were sold at an average price of $173.00, for a total transaction of $6,920,000.00. Following the completion of the sale, the executive vice president now directly owns 71,311 shares of the company, valued at approximately $12,336,803. Disclosure of this sale can be found here. Insiders own 0.35% of the shares of the company.
Analyst upgrades and downgrades
Several research companies have commented on JNJ. UBS Group lowered its price target on Johnson & Johnson from $185.00 to $180.00 in a Thursday, July 21 research report. StockNews.com upgraded Johnson & Johnson shares from a “buy” rating to a “strong buy” rating in a Tuesday, May 17 report. SVB Leerink cut its price target on Johnson & Johnson shares from $200.00 to $194.00 in a Wednesday, July 20 research report. Credit Suisse Group raised its price target on Johnson & Johnson shares from $200.00 to $205.00 and gave the stock an “outperform” rating in a Wednesday, April 20 report. Finally, Citigroup lowered its price target on Johnson & Johnson from $205.00 to $201.00 in a Wednesday, July 20 report. Four research analysts gave the stock a hold rating, five gave the company a buy rating and one gave the company a strong buy rating. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $189.89.
Johnson & Johnson Stock Performance
Shares of JNJ opened at $167.58 on Thursday. The company’s fifty-day simple moving average is $173.63 and its two-hundred-day simple moving average is $174.59. Johnson & Johnson has a 12-month low of $155.72 and a 12-month high of $186.69. The company has a current ratio of 1.42, a quick ratio of 1.17 and a debt ratio of 0.37. The stock has a market capitalization of $440.60 billion, a P/E ratio of 24.39, a growth price/earnings ratio of 3.16 and a beta of 0.59.
Johnson & Johnson (NYSE:JNJ – Get a rating) last released its results on Tuesday, July 19. The company reported EPS of $2.59 for the quarter, beating the consensus estimate of $2.57 by $0.02. Johnson & Johnson had a return on equity of 36.14% and a net margin of 19.21%. The company posted revenue of $24.02 billion in the quarter, compared to $23.85 billion expected by analysts. During the same quarter last year, the firm posted earnings per share of $2.48. The company’s revenue increased 3.0% year over year. As a group, analysts predict Johnson & Johnson will post EPS of 10.05 for the current year.
Johnson & Johnson announces dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 6. Shareholders of record on Tuesday, August 23 will receive a dividend of $1.13. This represents a dividend of $4.52 on an annualized basis and a yield of 2.70%. The ex-dividend date is Monday, August 22. Johnson & Johnson’s payout ratio is 65.79%.
Johnson & Johnson Profile
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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