QV Investors Inc. Sells 1,770 Shares of Johnson & Johnson (NYSE:JNJ)

QV Investors Inc. cut its position in shares of Johnson & Johnson (NYSE:JNJ) by 1.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 97,110 shares of the company’s stock after selling 1,770 shares during the period. Johnson & Johnson accounts for 1.3% of QV Investors Inc.’s portfolio, making the stock its 26th largest holding. QV Investors Inc.’s holdings in Johnson & Johnson were worth $14,194,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Christopher J. Hasenberg Inc acquired a new stake in Johnson & Johnson during the 1st quarter valued at $31,000. Keener Financial Planning LLC bought a new position in shares of Johnson & Johnson in the fourth quarter valued at about $40,000. WFA Asset Management Corp lifted its stake in shares of Johnson & Johnson by 61.4% during the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after buying an additional 97 shares during the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in Johnson & Johnson in the 4th quarter valued at about $44,000. Finally, Disciplined Equity Management Inc. bought a new position in Johnson & Johnson in the 4th quarter valued at about $45,000. 69.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on JNJ. Bank of America lowered their price objective on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Daiwa America lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Daiwa Capital Markets downgraded shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a report on Monday, August 5th. Finally, StockNews.com cut Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $173.21.

Johnson & Johnson Trading Up 0.1 %

Shares of NYSE JNJ traded up $0.09 during trading on Wednesday, reaching $158.48. The company had a trading volume of 4,882,529 shares, compared to its average volume of 7,355,267. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.39. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The stock has a market cap of $381.41 billion, a P/E ratio of 9.89, a PEG ratio of 2.63 and a beta of 0.52. The company’s fifty day moving average price is $151.63 and its 200-day moving average price is $153.06.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. The business had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.80 EPS. As a group, research analysts expect that Johnson & Johnson will post 10.07 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be issued a dividend of $1.24 per share. The ex-dividend date is Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a yield of 3.13%. Johnson & Johnson’s payout ratio is currently 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.