Tobam Sells 11,732 Shares of Johnson & Johnson (NYSE:JNJ)

Tobam cut its holdings in Johnson & Johnson (NYSE:JNJ) by 15.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 66,722 shares of the company’s stock after selling 11,732 shares during the quarter. Johnson & Johnson accounts for 2.0% of Tobam’s investment portfolio, making the stock its 15th biggest holding. Tobam’s holdings in Johnson & Johnson were worth $10,813,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Innealta Capital LLC acquired a new position in Johnson & Johnson during the 2nd quarter worth approximately $27,000. MFA Wealth Advisors LLC acquired a new stake in Johnson & Johnson in the 2nd quarter valued at $43,000. Grayhawk Investment Strategies Inc. increased its stake in Johnson & Johnson by 528.6% during the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after purchasing an additional 259 shares in the last quarter. Fairfield Financial Advisors LTD acquired a new position in Johnson & Johnson during the second quarter worth $46,000. Finally, Fairway Wealth LLC lifted its stake in shares of Johnson & Johnson by 217.1% in the second quarter. Fairway Wealth LLC now owns 333 shares of the company’s stock valued at $49,000 after buying an additional 228 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $160.52 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. The firm has a market cap of $386.41 billion, a price-to-earnings ratio of 10.03, a P/E/G ratio of 2.65 and a beta of 0.52. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85. The firm’s 50-day simple moving average is $162.65 and its two-hundred day simple moving average is $154.41.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The company had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.33 billion. During the same quarter in the previous year, the firm posted $2.80 EPS. Johnson & Johnson’s revenue was up 4.3% on a year-over-year basis. As a group, equities analysts forecast that Johnson & Johnson will post 10 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were paid a dividend of $1.24 per share. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 annualized dividend and a dividend yield of 3.09%. Johnson & Johnson’s payout ratio is 30.98%.

Insider Activity at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.16% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. TD Cowen lowered their target price on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Daiwa Capital Markets downgraded Johnson & Johnson from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Royal Bank of Canada lifted their target price on Johnson & Johnson from $175.00 to $178.00 and gave the company an “outperform” rating in a research report on Tuesday. Daiwa America lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a report on Thursday. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.43.

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.