Johnson & Johnson (NYSE:JNJ) Shares Sold by Abbrea Capital LLC

Abbrea Capital LLC trimmed its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 3.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 59,099 shares of the company’s stock after selling 1,848 shares during the period. Johnson & Johnson makes up about 1.1% of Abbrea Capital LLC’s portfolio, making the stock its 25th biggest position. Abbrea Capital LLC’s holdings in Johnson & Johnson were worth $8,638,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Gilbert & Cook Inc. lifted its stake in shares of Johnson & Johnson by 3.3% in the 4th quarter. Gilbert & Cook Inc. now owns 9,111 shares of the company’s stock valued at $1,428,000 after purchasing an additional 288 shares during the period. 9258 Wealth Management LLC lifted its stake in shares of Johnson & Johnson by 2.1% in the 4th quarter. 9258 Wealth Management LLC now owns 22,034 shares of the company’s stock valued at $3,454,000 after purchasing an additional 443 shares during the period. Gryphon Financial Partners LLC raised its position in Johnson & Johnson by 66.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 14,245 shares of the company’s stock worth $2,244,000 after acquiring an additional 5,680 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Johnson & Johnson by 7.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,588,958 shares of the company’s stock worth $416,648,000 after acquiring an additional 177,563 shares during the period. Finally, Fagan Associates Inc. raised its position in Johnson & Johnson by 4.2% during the fourth quarter. Fagan Associates Inc. now owns 51,197 shares of the company’s stock worth $8,025,000 after acquiring an additional 2,066 shares during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on JNJ. Sanford C. Bernstein upped their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. TD Securities reduced their price objective on shares of Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a report on Monday, September 9th. Daiwa America lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, Daiwa Capital Markets lowered shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $160.00 to $150.00 in a report on Tuesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $173.21.

Insiders Place Their Bets

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the transaction, the vice president now owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.16% of the stock is currently owned by insiders.

Johnson & Johnson Trading Up 0.5 %

Shares of JNJ opened at $165.52 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85. The firm has a 50-day moving average price of $159.55 and a 200 day moving average price of $154.04. The firm has a market capitalization of $398.45 billion, a P/E ratio of 10.32, a P/E/G ratio of 2.71 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. The firm had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. Johnson & Johnson’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.80 earnings per share. Sell-side analysts forecast that Johnson & Johnson will post 10.02 EPS for the current year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.00%. The ex-dividend date was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

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.