Azimuth Capital Management LLC Has $24.53 Million Stake in Johnson & Johnson (JNJ)

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Azimuth Capital Management LLC cut its position in Johnson & Johnson (NYSE:JNJ) by 7.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 202,132 shares of the company’s stock after selling 16,413 shares during the quarter. Johnson & Johnson accounts for about 1.8% of Azimuth Capital Management LLC’s portfolio, making the stock its 2nd largest holding. Azimuth Capital Management LLC’s holdings in Johnson & Johnson were worth $24,527,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Financial Gravity Wealth Inc. acquired a new position in shares of Johnson & Johnson in the 1st quarter valued at approximately $105,000. WP Advisors LLC acquired a new position in shares of Johnson & Johnson in the 2nd quarter valued at approximately $108,000. FNY Investment Advisers LLC acquired a new position in shares of Johnson & Johnson in the 2nd quarter valued at approximately $117,000. Fusion Family Wealth LLC raised its position in shares of Johnson & Johnson by 621.4% in the 2nd quarter. Fusion Family Wealth LLC now owns 1,010 shares of the company’s stock valued at $123,000 after buying an additional 870 shares in the last quarter. Finally, Live Your Vision LLC raised its position in shares of Johnson & Johnson by 58.3% in the 2nd quarter. Live Your Vision LLC now owns 1,363 shares of the company’s stock valued at $172,000 after buying an additional 502 shares in the last quarter. Institutional investors own 66.51% of the company’s stock.

JNJ stock opened at $145.43 on Friday. The company has a market cap of $391.78 billion, a P/E ratio of 19.92, a P/E/G ratio of 2.28 and a beta of 0.59. Johnson & Johnson has a 1 year low of $118.62 and a 1 year high of $148.99. The company has a quick ratio of 1.40, a current ratio of 1.72 and a debt-to-equity ratio of 0.46.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, October 16th. The company reported $2.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.02. Johnson & Johnson had a net margin of 1.89% and a return on equity of 34.62%. The firm had revenue of $20.35 billion during the quarter, compared to analysts’ expectations of $20.05 billion. During the same period in the prior year, the company posted $1.90 EPS. The company’s revenue was up 3.6% on a year-over-year basis. As a group, research analysts expect that Johnson & Johnson will post 8.16 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 11th. Shareholders of record on Tuesday, November 27th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Monday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 49.32%.

In other Johnson & Johnson news, CAO Ronald A. Kapusta sold 8,441 shares of the company’s stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $145.15, for a total value of $1,225,211.15. Following the completion of the transaction, the chief accounting officer now directly owns 17,284 shares in the company, valued at approximately $2,508,772.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Joaquin Duato sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $144.36, for a total transaction of $5,774,400.00. Following the completion of the transaction, the insider now owns 112,848 shares of the company’s stock, valued at $16,290,737.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 510,544 shares of company stock valued at $74,414,877. Corporate insiders own 0.22% of the company’s stock.

Several equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and set a $158.00 target price for the company in a research report on Wednesday, November 28th. Wells Fargo & Co reiterated an “outperform” rating and set a $160.00 price objective on shares of Johnson & Johnson in a research report on Friday, September 14th. HC Wainwright reiterated a “buy” rating on shares of Johnson & Johnson in a research report on Wednesday, October 17th. Credit Suisse Group set a $149.00 price objective on shares of Johnson & Johnson and gave the stock a “buy” rating in a research report on Sunday, October 14th. Finally, Citigroup upped their price objective on shares of Johnson & Johnson from $137.00 to $148.00 and gave the stock a “neutral” rating in a research report on Monday, October 22nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $143.90.

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Johnson & Johnson Profile

Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment includes products used in the baby care, oral care, beauty, over-the-counter pharmaceutical, women’s health, and wound care markets.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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