Lazard Asset Management LLC Reduces Holdings in Johnson & Johnson (NYSE:JNJ)

Lazard Asset Management LLC cut its position in Johnson & Johnson (NYSE:JNJGet Rating) by 3.2% in the second quarter, HoldingsChannel.com reports. The firm owned 9,493,671 shares of the company’s stock after selling 312,661 shares during the period. Johnson & Johnson accounts for approximately 2.3% of Lazard Asset Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Lazard Asset Management LLC’s holdings in Johnson & Johnson were worth $1,685,219,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the company. Taylor & Morgan Wealth Management LLC boosted its stake in Johnson & Johnson by 1.6% in the second quarter. Taylor & Morgan Wealth Management LLC now owns 3,580 shares of the company’s stock valued at $635,000 after acquiring an additional 57 shares in the last quarter. Circle Wealth Management LLC lifted its holdings in shares of Johnson & Johnson by 0.5% during the 1st quarter. Circle Wealth Management LLC now owns 11,326 shares of the company’s stock valued at $2,007,000 after purchasing an additional 59 shares during the last quarter. Argus Investors Counsel Inc. boosted its position in shares of Johnson & Johnson by 0.6% in the 2nd quarter. Argus Investors Counsel Inc. now owns 10,936 shares of the company’s stock worth $1,941,000 after purchasing an additional 61 shares in the last quarter. Alta Capital Management LLC grew its stake in Johnson & Johnson by 0.4% during the 2nd quarter. Alta Capital Management LLC now owns 15,824 shares of the company’s stock worth $2,808,000 after buying an additional 61 shares during the last quarter. Finally, One Charles Private Wealth Services LLC raised its stake in Johnson & Johnson by 1.5% in the first quarter. One Charles Private Wealth Services LLC now owns 4,134 shares of the company’s stock valued at $733,000 after buying an additional 62 shares during the last quarter. 68.59% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Up 0.8 %

Johnson & Johnson stock opened at $176.20 on Friday. The business’s 50-day moving average price is $167.84 and its 200 day moving average price is $171.40. The company has a quick ratio of 1.18, a current ratio of 1.43 and a debt-to-equity ratio of 0.37. The firm has a market cap of $460.67 billion, a price-to-earnings ratio of 24.54, a price-to-earnings-growth ratio of 3.44 and a beta of 0.57. Johnson & Johnson has a 52 week low of $155.72 and a 52 week high of $186.69.

Johnson & Johnson (NYSE:JNJGet Rating) last issued its quarterly earnings data on Tuesday, October 18th. The company reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. The business had revenue of $23.79 billion for the quarter, compared to analysts’ expectations of $23.44 billion. Johnson & Johnson had a net margin of 19.95% and a return on equity of 35.37%. The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the company earned $2.60 EPS. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.04 earnings per share for the current year.

Johnson & Johnson announced that its Board of Directors has initiated a share buyback program 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 programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Tuesday, November 22nd will be given a $1.13 dividend. The ex-dividend date of this dividend is Monday, November 21st. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.57%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 62.95%.

Insider Transactions at Johnson & Johnson

In related news, EVP Kathryn E. Wengel sold 16,410 shares of the company’s 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 completion of the transaction, the executive vice president now owns 71,311 shares of the company’s stock, valued at approximately $12,366,753.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Johnson & Johnson news, EVP Kathryn E. Wengel sold 16,410 shares of the company’s stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $173.42, for a total transaction of $2,845,822.20. Following the completion of the transaction, the executive vice president now directly owns 71,311 shares in the company, valued at $12,366,753.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Peter Fasolo sold 22,864 shares of Johnson & Johnson stock in a transaction dated Wednesday, October 19th. The shares were sold at an average price of $164.50, for a total transaction of $3,761,128.00. Following the completion of the sale, the vice president now owns 114,676 shares in the company, valued at approximately $18,864,202. The disclosure for this sale can be found here. Insiders have sold a total of 118,795 shares of company stock valued at $20,230,174 in the last ninety days. 0.35% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on JNJ shares. Credit Suisse Group initiated coverage on Johnson & Johnson in a research note on Thursday. They set a “neutral” rating and a $170.00 price target on the stock. Bank of America cut their price target on shares of Johnson & Johnson from $185.00 to $178.00 and set a “neutral” rating on the stock in a research note on Friday, October 14th. Citigroup lowered their price objective on shares of Johnson & Johnson from $201.00 to $198.00 in a research note on Wednesday, October 5th. Barclays initiated coverage on Johnson & Johnson in a research report on Monday, October 17th. They issued an “equal weight” rating and a $175.00 target price on the stock. Finally, StockNews.com assumed coverage on Johnson & Johnson in a research report on Wednesday, October 12th. They set a “strong-buy” rating for the company. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $181.33.

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.

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

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