Johnson & Johnson (NYSE:JNJ) Shares Sold by MAI Capital Management

MAI Capital Management trimmed its position in shares of Johnson & Johnson (NYSE:JNJ) by 17.5% in the 3rd quarter, Holdings Channel reports. The firm owned 398,046 shares of the company’s stock after selling 84,452 shares during the period. MAI Capital Management’s holdings in Johnson & Johnson were worth $64,507,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in shares of Johnson & Johnson in the second quarter valued at about $27,000. Highline Wealth Partners LLC acquired a new stake in Johnson & Johnson in the 3rd quarter valued at about $31,000. Mowery & Schoenfeld Wealth Management LLC raised its holdings in Johnson & Johnson by 58.7% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after acquiring an additional 91 shares during the last quarter. Morton Brown Family Wealth LLC boosted its holdings in shares of Johnson & Johnson by 400.0% during the 3rd quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock worth $41,000 after purchasing an additional 200 shares during the last quarter. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Johnson & Johnson in the second quarter valued at approximately $43,000. 69.55% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $154.00 on Monday. The stock has a 50-day moving average of $161.35 and a two-hundred day moving average of $156.13. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. The company has a market cap of $370.77 billion, a P/E ratio of 22.29, a P/E/G ratio of 2.74 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. The company had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.66 EPS. As a group, analysts anticipate that Johnson & Johnson will post 9.93 EPS for the current year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio is currently 71.78%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on JNJ shares. Guggenheim boosted their price objective on Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Wolfe Research assumed coverage on shares of Johnson & Johnson in a research report on Friday. They set an “outperform” rating and a $190.00 price objective for the company. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Daiwa Capital Markets lowered shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Finally, Royal Bank of Canada increased their price objective on Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus target price of $175.94.

Insider Activity

In related news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now owns 18,973 shares of the company’s stock, valued at $3,131,683.38. This trade represents a 22.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.16% of the company’s stock.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.