Lorne Steinberg Wealth Management Inc. Sells 251 Shares of Johnson & Johnson (NYSE:JNJ)

Lorne Steinberg Wealth Management Inc. lessened its stake in Johnson & Johnson (NYSE:JNJGet Rating) by 3.3% in the second quarter, HoldingsChannel reports. The firm owned 7,430 shares of the company’s stock after selling 251 shares during the period. Lorne Steinberg Wealth Management Inc.’s holdings in Johnson & Johnson were worth $1,319,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in JNJ. Palisade Capital Management LLC NJ increased its holdings in shares of Johnson & Johnson by 0.3% in the first quarter. Palisade Capital Management LLC NJ now owns 93,141 shares of the company’s stock worth $16,507,000 after acquiring an additional 250 shares in the last quarter. Lmcg Investments LLC bought a new stake in shares of Johnson & Johnson in the first quarter worth about $12,462,000. Capital Wealth Planning LLC boosted its position in shares of Johnson & Johnson by 14.0% during the first quarter. Capital Wealth Planning LLC now owns 916,575 shares of the company’s stock worth $162,445,000 after buying an additional 112,890 shares during the period. Tandem Investment Advisors Inc. boosted its position in Johnson & Johnson by 4.8% during the first quarter. Tandem Investment Advisors Inc. now owns 326,505 shares of the company’s stock valued at $57,867,000 after purchasing an additional 15,003 shares during the last quarter. Finally, Tcwp LLC acquired a new position in Johnson & Johnson during the first quarter valued at approximately $946,000. Institutional investors own 68.59% of the company’s stock.

Insiders Place Their Bets

In other news, VP Peter Fasolo sold 22,864 shares of Johnson & Johnson stock in a transaction on Wednesday, October 19th. The stock was 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 filing with the SEC, which is available at the SEC website. In other news, EVP Kathryn E. Wengel sold 16,410 shares of Johnson & Johnson stock in a transaction on 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 transaction, the executive vice president now owns 71,311 shares in the company, valued at approximately $12,366,753.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Peter Fasolo sold 22,864 shares of Johnson & Johnson 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 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 worth $20,230,174 in the last 90 days. Company insiders own 0.35% of the company’s stock.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $176.20 on Monday. The stock’s fifty day moving average price is $167.84 and its two-hundred day moving average price is $171.29. Johnson & Johnson has a one year low of $155.72 and a one year high of $186.69. 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 $460.67 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 3.49 and a beta of 0.57.

Johnson & Johnson (NYSE:JNJGet Rating) last posted 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. 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 analyst estimates of $23.44 billion. During the same quarter last year, the company earned $2.60 EPS. The company’s revenue was up 1.9% on a year-over-year basis. As a group, research analysts expect that Johnson & Johnson will post 10.04 EPS for the current fiscal year.

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

Johnson & Johnson Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on JNJ shares. Bank of America reduced their price target on Johnson & Johnson from $185.00 to $178.00 and set a “neutral” rating for the company in a research report on Friday, October 14th. Raymond James reduced their price target on Johnson & Johnson from $192.00 to $185.00 and set an “outperform” rating for the company in a research report on Wednesday, October 19th. Morgan Stanley reduced their price target on Johnson & Johnson from $174.00 to $170.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 19th. Barclays initiated coverage on Johnson & Johnson in a research report on Monday, October 17th. They set an “equal weight” rating and a $175.00 price target for the company. Finally, Atlantic Securities cut their price objective on Johnson & Johnson from $165.00 to $160.00 and set a “neutral” rating for the company in a research report on Wednesday, October 19th. Seven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.33.

Johnson & Johnson 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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