Torray LLC Decreases Position in Johnson & Johnson (NYSE:JNJ)

Torray LLC decreased its holdings in Johnson & Johnson (NYSE:JNJGet Rating) by 8.6% during the 1st quarter, HoldingsChannel reports. The firm owned 88,836 shares of the company’s stock after selling 8,338 shares during the quarter. Johnson & Johnson comprises approximately 2.5% of Torray LLC’s holdings, making the stock its 9th largest position. Torray LLC’s holdings in Johnson & Johnson were worth $15,744,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Walkner Condon Financial Advisors LLC acquired a new stake in shares of Johnson & Johnson during the 1st quarter valued at $286,000. Horan Capital Advisors LLC. boosted its holdings in shares of Johnson & Johnson by 1.1% during the 1st quarter. Horan Capital Advisors LLC. now owns 18,511 shares of the company’s stock valued at $3,281,000 after acquiring an additional 205 shares in the last quarter. Peoples Bank OH boosted its holdings in shares of Johnson & Johnson by 14.7% during the 1st quarter. Peoples Bank OH now owns 8,405 shares of the company’s stock valued at $1,490,000 after acquiring an additional 1,077 shares in the last quarter. Fernwood Investment Management LLC boosted its holdings in shares of Johnson & Johnson by 0.4% during the 1st quarter. Fernwood Investment Management LLC now owns 20,545 shares of the company’s stock valued at $3,641,000 after acquiring an additional 72 shares in the last quarter. Finally, Steward Financial Group LLC boosted its holdings in shares of Johnson & Johnson by 45.0% during the 1st quarter. Steward Financial Group LLC now owns 290 shares of the company’s stock valued at $51,000 after acquiring an additional 90 shares in the last quarter. Institutional investors own 68.78% of the company’s stock.

Insider Activity at Johnson & Johnson

In related news, CAO Robert J. Decker sold 8,462 shares of the stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $180.00, for a total value of $1,523,160.00. Following the completion of the sale, the chief accounting officer now directly owns 15,473 shares of the company’s stock, valued at approximately $2,785,140. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Kathryn E. Wengel sold 40,000 shares of the firm’s stock in a transaction on Friday, June 10th. The stock was sold at an average price of $173.00, for a total transaction of $6,920,000.00. Following the completion of the sale, the executive vice president now directly owns 71,311 shares of the company’s stock, valued at approximately $12,336,803. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Robert J. Decker sold 8,462 shares of the firm’s stock in a transaction on Thursday, May 26th. The shares were sold at an average price of $180.00, for a total value of $1,523,160.00. Following the sale, the chief accounting officer now directly owns 15,473 shares of the company’s stock, valued at $2,785,140. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $174.52 on Monday. The stock has a market capitalization of $459.23 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 3.28 and a beta of 0.63. Johnson & Johnson has a 52-week low of $155.72 and a 52-week high of $186.69. The stock’s 50 day moving average price is $175.95 and its two-hundred day moving average price is $174.46. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.14 and a current ratio of 1.39.

Johnson & Johnson (NYSE:JNJGet Rating) last issued its earnings results on Tuesday, July 19th. The company reported $2.59 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.02. Johnson & Johnson had a return on equity of 36.56% and a net margin of 19.21%. The company had revenue of $24.02 billion for the quarter, compared to analyst estimates of $23.85 billion. During the same period in the prior year, the firm earned $2.48 earnings per share. Johnson & Johnson’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities analysts predict that Johnson & Johnson will post 10.05 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd will be given a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Monday, August 22nd. Johnson & Johnson’s payout ratio is currently 65.79%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Citigroup cut their price objective on Johnson & Johnson from $205.00 to $201.00 in a report on Wednesday, July 20th. Wells Fargo & Company raised their price objective on Johnson & Johnson from $190.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 13th. UBS Group reduced their target price on Johnson & Johnson from $185.00 to $180.00 in a report on Thursday, July 21st. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 17th. Finally, SVB Leerink reduced their target price on Johnson & Johnson from $200.00 to $194.00 in a report on Wednesday, July 20th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $189.89.

Johnson & Johnson Company Profile

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Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment offers baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.

Further Reading

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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