Verdence Capital Advisors LLC Decreases Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Verdence Capital Advisors LLC decreased its position in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 11.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 57,998 shares of the company’s stock after selling 7,426 shares during the quarter. Johnson & Johnson makes up approximately 1.3% of Verdence Capital Advisors LLC’s holdings, making the stock its 7th largest holding. Verdence Capital Advisors LLC’s holdings in Johnson & Johnson were worth $10,295,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Johnson & Johnson by 1.4% in the first quarter. Vanguard Group Inc. now owns 238,141,110 shares of the company’s stock valued at $42,205,749,000 after acquiring an additional 3,358,478 shares during the last quarter. BlackRock Inc. boosted its position in shares of Johnson & Johnson by 0.4% in the 1st quarter. BlackRock Inc. now owns 200,799,189 shares of the company’s stock worth $35,587,638,000 after purchasing an additional 777,837 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Johnson & Johnson by 0.8% during the first quarter. Wellington Management Group LLP now owns 32,772,594 shares of the company’s stock worth $5,808,286,000 after purchasing an additional 265,330 shares during the period. Bank of New York Mellon Corp increased its holdings in Johnson & Johnson by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 32,070,396 shares of the company’s stock valued at $5,683,837,000 after purchasing an additional 509,818 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Johnson & Johnson by 1.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 17,189,229 shares of the company’s stock valued at $3,046,449,000 after buying an additional 328,297 shares during the period. 68.59% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Kathryn E. Wengel sold 16,410 shares of Johnson & Johnson stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $173.42, for a total value of $2,845,822.20. Following the sale, the executive vice president now owns 71,311 shares of the company’s stock, valued at $12,366,753.62. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Peter Fasolo sold 22,864 shares of the firm’s stock in a transaction on 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 completion of the transaction, the vice president now directly owns 114,676 shares of the company’s stock, valued at $18,864,202. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kathryn E. Wengel sold 16,410 shares of the company’s stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $173.42, for a total transaction of $2,845,822.20. Following the sale, the executive vice president now directly owns 71,311 shares in the company, valued at $12,366,753.62. The disclosure for this sale can be found here. Insiders have sold 118,795 shares of company stock valued at $20,230,174 in the last three months. 0.35% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on JNJ. StockNews.com began coverage on Johnson & Johnson in a research report on Wednesday, October 12th. They set a “strong-buy” rating for the company. UBS Group lowered their target price on shares of Johnson & Johnson from $185.00 to $180.00 in a research note on Thursday, July 21st. Morgan Stanley reduced their price target 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. Sanford C. Bernstein dropped their price objective on Johnson & Johnson from $194.00 to $190.00 in a research note on Wednesday, October 19th. Finally, Citigroup reduced their target price on Johnson & Johnson from $201.00 to $198.00 in a report on Wednesday, October 5th. Six 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $184.25.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock opened at $171.91 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.43 and a quick ratio of 1.18. The firm has a market cap of $449.46 billion, a price-to-earnings ratio of 23.94, a price-to-earnings-growth ratio of 3.35 and a beta of 0.57. The stock’s 50-day moving average is $167.06 and its 200-day moving average is $171.43. Johnson & Johnson has a one year low of $155.72 and a one year high of $186.69.

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

Johnson & Johnson announced that its Board of Directors has initiated a share buyback plan on Wednesday, September 14th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 1.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Tuesday, November 22nd will be paid a $1.13 dividend. The ex-dividend date is Monday, November 21st. This represents a $4.52 annualized dividend and a yield of 2.63%. Johnson & Johnson’s payout ratio is currently 62.95%.

About Johnson & Johnson

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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.

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

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