Parthenon LLC Sells 1,321 Shares of Johnson & Johnson (NYSE:JNJ)

Parthenon LLC cut its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 1.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,833 shares of the company’s stock after selling 1,321 shares during the period. Johnson & Johnson comprises approximately 2.3% of Parthenon LLC’s holdings, making the stock its 12th largest holding. Parthenon LLC’s holdings in Johnson & Johnson were worth $18,392,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Norges Bank acquired a new position in Johnson & Johnson during the 4th quarter worth $4,071,642,000. Wellington Management Group LLP lifted its holdings in Johnson & Johnson by 16.4% during the 4th quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock worth $3,764,852,000 after buying an additional 3,391,657 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Johnson & Johnson by 16.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after buying an additional 3,139,499 shares in the last quarter. Ninety One UK Ltd lifted its holdings in Johnson & Johnson by 59.0% during the 2nd quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock worth $980,579,000 after buying an additional 2,489,925 shares in the last quarter. Finally, Swedbank AB acquired a new position in Johnson & Johnson during the 1st quarter worth $331,178,000. 69.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on JNJ shares. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday. TD Cowen cut their price target on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Morgan Stanley increased their price target on Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Daiwa America downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Sanford C. Bernstein increased their price target on Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $173.21.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock opened at $165.52 on Friday. The company has a market capitalization of $398.45 billion, a PE ratio of 10.32, a PEG ratio of 2.71 and a beta of 0.53. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The stock’s fifty day simple moving average is $159.55 and its 200 day simple moving average is $154.04.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.71 by $0.11. The business had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.80 EPS. On average, research analysts predict that Johnson & Johnson will post 10.02 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis 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%.

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 stock was 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 in the company, valued at approximately $3,131,683.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate 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.