Johnson Investment Counsel Inc. Reduces Stake in Johnson & Johnson $JNJ

Johnson Investment Counsel Inc. reduced its stake in Johnson & Johnson (NYSE:JNJ) by 6.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 189,105 shares of the company’s stock after selling 12,476 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Johnson & Johnson were worth $28,886,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in JNJ. Nuveen LLC purchased a new position in shares of Johnson & Johnson during the 1st quarter worth $1,369,188,000. Bank of New York Mellon Corp grew its holdings in shares of Johnson & Johnson by 26.4% during the 1st quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company’s stock worth $3,844,580,000 after purchasing an additional 4,842,582 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Johnson & Johnson by 1,382.0% during the 1st quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company’s stock worth $502,509,000 after purchasing an additional 2,825,626 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Johnson & Johnson by 159.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,159,260 shares of the company’s stock worth $635,327,000 after purchasing an additional 2,557,388 shares during the period. Finally, Kingstone Capital Partners Texas LLC purchased a new position in shares of Johnson & Johnson during the 2nd quarter worth $401,420,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

JNJ stock opened at $190.88 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. The firm has a market capitalization of $459.71 billion, a P/E ratio of 20.42, a P/E/G ratio of 2.40 and a beta of 0.40. The business’s 50-day moving average is $178.88 and its two-hundred day moving average is $163.97. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $192.10.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. The company had revenue of $24.02 billion for the quarter. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. Analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th were given a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a yield of 2.7%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 55.61%.

Insider Buying and Selling at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the sale, the executive vice president owned 178,013 shares of the company’s stock, valued at approximately $31,652,491.53. This trade represents a 24.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on JNJ shares. JPMorgan Chase & Co. increased their price target on Johnson & Johnson from $185.00 to $200.00 and gave the stock a “neutral” rating in a report on Tuesday, September 16th. Guggenheim upgraded Johnson & Johnson from a “neutral” rating to a “buy” rating and raised their target price for the company from $167.00 to $206.00 in a report on Tuesday, September 23rd. The Goldman Sachs Group raised their target price on Johnson & Johnson from $186.00 to $212.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Weiss Ratings upgraded Johnson & Johnson from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Finally, Piper Sandler restated an “overweight” rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and an average price target of $192.94.

Johnson & Johnson Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.