Burney Co. Trims Stock Holdings in Johnson & Johnson $JNJ

Burney Co. trimmed its position in Johnson & Johnson (NYSE:JNJ) by 7.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,300 shares of the company’s stock after selling 2,640 shares during the period. Burney Co.’s holdings in Johnson & Johnson were worth $5,087,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GFG Capital LLC bought a new stake in Johnson & Johnson in the second quarter worth $35,000. Stone House Investment Management LLC bought a new stake in Johnson & Johnson in the first quarter worth $47,000. 1248 Management LLC bought a new stake in Johnson & Johnson in the first quarter worth $48,000. von Borstel & Associates Inc. bought a new stake in Johnson & Johnson in the first quarter worth $49,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in Johnson & Johnson in the first quarter worth $52,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Johnson & Johnson Trading Down 1.4%

Shares of NYSE:JNJ opened at $186.24 on Tuesday. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $194.48. The stock’s fifty day moving average price is $183.43 and its 200-day moving average price is $167.96. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.07 and a quick ratio of 0.80. The company has a market cap of $448.71 billion, a P/E ratio of 17.98, a PEG ratio of 2.19 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. Johnson & Johnson had a return on equity of 32.73% and a net margin of 27.26%.The company had revenue of $24.02 billion for the quarter. Sell-side analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $5.20 dividend on an annualized basis and a yield of 2.8%. Johnson & Johnson’s dividend payout ratio is currently 50.19%.

Analyst Ratings Changes

Several research firms have commented on JNJ. Cowen reissued a “buy” rating on shares of Johnson & Johnson in a report on Tuesday, October 14th. Barclays boosted their target price on Johnson & Johnson from $165.00 to $176.00 and gave the stock an “equal weight” rating in a report on Thursday, July 17th. Argus set a $210.00 price target on Johnson & Johnson in a report on Wednesday, October 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Johnson & Johnson in a report on Friday. Finally, Wells Fargo & Company set a $212.00 price target on Johnson & Johnson and gave the company an “overweight” rating in a report on Friday, October 3rd. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $199.05.

Johnson & Johnson Company 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.