Narwhal Capital Management Sells 1,302 Shares of Johnson & Johnson (NYSE:JNJ)

Narwhal Capital Management lessened its stake in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 1.5% during the third quarter, Holdings Channel reports. The fund owned 84,584 shares of the company’s stock after selling 1,302 shares during the quarter. Johnson & Johnson comprises 2.0% of Narwhal Capital Management’s investment portfolio, making the stock its 11th largest position. Narwhal Capital Management’s holdings in Johnson & Johnson were worth $13,818,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in Johnson & Johnson by 18.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 24,622,795 shares of the company’s stock worth $4,370,793,000 after purchasing an additional 3,912,430 shares in the last quarter. FMR LLC grew its holdings in shares of Johnson & Johnson by 20.8% in the second quarter. FMR LLC now owns 18,725,049 shares of the company’s stock worth $3,323,883,000 after acquiring an additional 3,229,032 shares during the period. GQG Partners LLC grew its position in shares of Johnson & Johnson by 64.4% during the 1st quarter. GQG Partners LLC now owns 6,501,761 shares of the company’s stock valued at $1,151,931,000 after acquiring an additional 2,547,378 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of Johnson & Johnson by 52.2% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 6,102,999 shares of the company’s stock worth $1,083,329,000 after buying an additional 2,093,392 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Johnson & Johnson by 37.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,653,610 shares of the company’s stock valued at $1,179,219,000 after buying an additional 1,805,632 shares in the last quarter. 67.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on JNJ shares. Citigroup increased their price target on shares of Johnson & Johnson from $198.00 to $205.00 and gave the company a “buy” rating in a report on Monday, December 12th. Credit Suisse Group assumed coverage on shares of Johnson & Johnson in a research report on Thursday, November 17th. They issued a “neutral” rating and a $170.00 price target for the company. SVB Leerink decreased their price objective on Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating for the company in a report on Friday. Barclays initiated coverage on Johnson & Johnson in a report on Monday, October 17th. They issued an “equal weight” rating and a $175.00 price objective on the stock. Finally, Morgan Stanley cut their price target on Johnson & Johnson from $178.00 to $176.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 6th. Seven 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $181.75.

Insider Transactions at Johnson & Johnson

In other news, CFO Joseph J. Wolk sold 14,781 shares of the company’s stock in a transaction that occurred on Tuesday, December 13th. The shares were sold at an average price of $179.60, for a total value of $2,654,667.60. Following the completion of the sale, the chief financial officer now directly owns 35,812 shares of the company’s stock, valued at approximately $6,431,835.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider William Hait sold 15,000 shares of the company’s stock in a transaction dated Monday, October 24th. The shares were sold at an average price of $171.55, for a total transaction of $2,573,250.00. Following the completion of the transaction, the insider now owns 80,236 shares of the company’s stock, valued at $13,764,485.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Joseph J. Wolk sold 14,781 shares of the company’s stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $179.60, for a total transaction of $2,654,667.60. Following the sale, the chief financial officer now directly owns 35,812 shares in the company, valued at $6,431,835.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 277,886 shares of company stock worth $48,550,549. 0.35% of the stock is currently owned by insiders.

Johnson & Johnson Trading Down 0.5 %

JNJ stock opened at $168.74 on Friday. Johnson & Johnson has a 52 week low of $155.72 and a 52 week high of $186.69. The business has a fifty day simple moving average of $176.14 and a 200-day simple moving average of $171.25. The company has a market cap of $441.17 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 3.28 and a beta of 0.56. The company has a quick ratio of 1.18, a current ratio of 1.43 and a debt-to-equity ratio of 0.37.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 7th. Shareholders of record on Tuesday, February 21st will be issued a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Friday, February 17th. Johnson & Johnson’s dividend payout ratio is presently 62.95%.

About Johnson & Johnson

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Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer Health, Pharmaceutical, and Medical Devices. The Consumer Health segment includes products used in the baby care, oral care, beauty, over-the-counter pharmaceutical, women’s health, and wound care markets.