Loomis Sayles & Co. L P Sells 114,321 Shares of Johnson & Johnson (NYSE:JNJ)

Loomis Sayles & Co. L P trimmed its holdings in Johnson & Johnson (NYSE:JNJGet Rating) by 38.8% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 180,084 shares of the company’s stock after selling 114,321 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Johnson & Johnson were worth $31,966,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Concorde Asset Management LLC lifted its holdings in shares of Johnson & Johnson by 24.5% in the 2nd quarter. Concorde Asset Management LLC now owns 3,075 shares of the company’s stock worth $451,000 after acquiring an additional 605 shares during the last quarter. Epic Trust Investment Advisors LLC bought a new stake in Johnson & Johnson during the 2nd quarter valued at $207,000. Cullen Frost Bankers Inc. raised its holdings in Johnson & Johnson by 2.7% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 316,934 shares of the company’s stock valued at $56,259,000 after buying an additional 8,371 shares during the last quarter. Fingerlakes Wealth Management Inc. raised its holdings in Johnson & Johnson by 2.2% during the 2nd quarter. Fingerlakes Wealth Management Inc. now owns 3,526 shares of the company’s stock valued at $626,000 after buying an additional 75 shares during the last quarter. Finally, Sterling Investment Advisors Ltd. raised its holdings in Johnson & Johnson by 2.7% during the 2nd quarter. Sterling Investment Advisors Ltd. now owns 60,183 shares of the company’s stock valued at $10,683,000 after buying an additional 1,575 shares during the last quarter. 68.59% of the stock is currently owned by institutional investors.

Johnson & Johnson Stock Down 0.8 %

NYSE:JNJ opened at $172.45 on Thursday. The firm’s 50-day moving average price is $166.57 and its 200-day moving average price is $171.78. The company has a market capitalization of $450.87 billion, a PE ratio of 24.02, a P/E/G ratio of 3.40 and a beta of 0.57. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.43 and a quick ratio of 1.18. Johnson & Johnson has a 1-year low of $155.72 and a 1-year high of $186.69.

Johnson & Johnson (NYSE:JNJGet Rating) last released its earnings results on Tuesday, October 18th. The company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. The firm had revenue of $23.79 billion for the quarter, compared to the consensus estimate of $23.44 billion. Johnson & Johnson had a net margin of 19.95% and a return on equity of 35.37%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.60 EPS. On average, equities analysts predict that Johnson & Johnson will post 10.04 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Tuesday, November 22nd will be paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Monday, November 21st. Johnson & Johnson’s payout ratio is 62.95%.

Johnson & Johnson declared that its board has initiated a stock buyback plan on Wednesday, September 14th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 1.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. SVB Leerink lowered their price target on shares of Johnson & Johnson from $200.00 to $194.00 in a report on Wednesday, July 20th. Morgan Stanley reduced their price objective on shares of Johnson & Johnson from $174.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 19th. Raymond James reduced their price objective on shares of Johnson & Johnson from $192.00 to $185.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 19th. Atlantic Securities reduced their price objective on shares of Johnson & Johnson from $165.00 to $160.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 19th. Finally, Sanford C. Bernstein reduced their price objective on shares of Johnson & Johnson from $194.00 to $190.00 in a research report on Wednesday, October 19th. Six research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $184.25.

Insider Buying and Selling

In related news, VP Peter Fasolo sold 22,864 shares of the company’s stock in a transaction dated Wednesday, October 19th. The shares were sold at an average price of $164.50, for a total value of $3,761,128.00. Following the transaction, the vice president now owns 114,676 shares in the company, valued at approximately $18,864,202. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP Peter Fasolo sold 22,864 shares of the company’s stock in a transaction dated Wednesday, October 19th. The shares were sold at an average price of $164.50, for a total value of $3,761,128.00. Following the transaction, the vice president now owns 114,676 shares in the company, valued at approximately $18,864,202. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Thibaut Mongon sold 35,246 shares of the company’s stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $171.18, for a total transaction of $6,033,410.28. Following the completion of the transaction, the vice president now owns 40,133 shares in the company, valued at approximately $6,869,966.94. The disclosure for this sale can be found here. Insiders have sold a total of 102,385 shares of company stock worth $17,384,352 in the last quarter. Corporate insiders own 0.35% of the company’s stock.

About Johnson & Johnson

(Get Rating)

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.

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

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