Cullen Capital Management LLC Decreases Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Cullen Capital Management LLC lowered its stake in Johnson & Johnson (NYSE:JNJ) by 4.4% during the 4th quarter, HoldingsChannel reports. The firm owned 1,179,982 shares of the company’s stock after selling 54,495 shares during the period. Johnson & Johnson comprises 2.0% of Cullen Capital Management LLC’s holdings, making the stock its 24th largest position. Cullen Capital Management LLC’s holdings in Johnson & Johnson were worth $170,649,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in Johnson & Johnson by 10.5% during the third quarter. Principal Financial Group Inc. now owns 3,472,312 shares of the company’s stock valued at $562,723,000 after buying an additional 329,473 shares during the period. United Bank boosted its stake in shares of Johnson & Johnson by 5.6% during the 3rd quarter. United Bank now owns 3,788 shares of the company’s stock worth $614,000 after acquiring an additional 202 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc boosted its stake in shares of Johnson & Johnson by 24.6% during the 3rd quarter. Texas Capital Bank Wealth Management Services Inc now owns 6,224 shares of the company’s stock worth $1,009,000 after acquiring an additional 1,227 shares during the last quarter. Wahed Invest LLC grew its position in shares of Johnson & Johnson by 7.7% during the 3rd quarter. Wahed Invest LLC now owns 58,301 shares of the company’s stock valued at $9,448,000 after acquiring an additional 4,158 shares during the period. Finally, Voya Financial Advisors Inc. increased its stake in shares of Johnson & Johnson by 3.3% in the 3rd quarter. Voya Financial Advisors Inc. now owns 4,716 shares of the company’s stock worth $761,000 after purchasing an additional 149 shares in the last quarter. Institutional investors own 69.55% of the company’s stock.

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 6,999 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the transaction, the vice president now directly owns 21,001 shares in the company, valued at approximately $3,483,645.88. This represents a 25.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Timothy Schmid sold 403 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total value of $62,928.45. Following the transaction, the executive vice president now owns 15,098 shares of the company’s stock, valued at $2,357,552.70. This trade represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Trading Down 4.3 %

JNJ stock opened at $153.03 on Friday. The firm has a market cap of $368.77 billion, a PE ratio of 23.01, a price-to-earnings-growth ratio of 2.56 and a beta of 0.47. The firm has a fifty day moving average price of $159.75 and a 200 day moving average price of $155.91. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $169.99.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.05. The firm had revenue of $22.52 billion for the quarter, compared to analysts’ expectations of $22.44 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.29 EPS. Sell-side analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on JNJ. Raymond James cut their price target on Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Barclays boosted their price objective on Johnson & Johnson from $159.00 to $166.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 28th. Bank of America raised their target price on shares of Johnson & Johnson from $159.00 to $171.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 5th. Argus upgraded shares of Johnson & Johnson to a “strong-buy” rating in a research report on Friday, January 24th. Finally, Wells Fargo & Company decreased their price objective on shares of Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $171.33.

Johnson & Johnson 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.