Benjamin F. Edwards & Company Inc. Cuts Position in Johnson & Johnson (JNJ)

Benjamin F. Edwards & Company Inc. trimmed its position in Johnson & Johnson (NYSE:JNJ) by 17.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 74,082 shares of the company’s stock after selling 16,078 shares during the period. Johnson & Johnson accounts for 0.9% of Benjamin F. Edwards & Company Inc.’s investment portfolio, making the stock its 19th biggest holding. Benjamin F. Edwards & Company Inc.’s holdings in Johnson & Johnson were worth $8,989,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in JNJ. BlackRock Inc. increased its position in shares of Johnson & Johnson by 4.7% in the 1st quarter. BlackRock Inc. now owns 175,389,024 shares of the company’s stock valued at $22,476,102,000 after acquiring an additional 7,853,141 shares during the period. Boston Partners grew its position in Johnson & Johnson by 68.7% during the 1st quarter. Boston Partners now owns 12,783,909 shares of the company’s stock worth $1,638,258,000 after purchasing an additional 5,207,124 shares during the period. Bank of Montreal Can grew its position in Johnson & Johnson by 36.1% during the 2nd quarter. Bank of Montreal Can now owns 6,910,459 shares of the company’s stock worth $838,515,000 after purchasing an additional 1,833,622 shares during the period. Summit Trail Advisors LLC grew its position in Johnson & Johnson by 11,692.6% during the 1st quarter. Summit Trail Advisors LLC now owns 1,767,832 shares of the company’s stock worth $1,768,000 after purchasing an additional 1,752,841 shares during the period. Finally, Flossbach Von Storch AG grew its position in Johnson & Johnson by 100.1% during the 1st quarter. Flossbach Von Storch AG now owns 2,318,450 shares of the company’s stock worth $297,109,000 after purchasing an additional 1,159,690 shares during the period. 66.67% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CAO Ronald A. Kapusta sold 7,899 shares of the firm’s stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $137.18, for a total transaction of $1,083,584.82. Following the sale, the chief accounting officer now directly owns 25,725 shares in the company, valued at approximately $3,528,955.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Michael E. Sneed sold 29,000 shares of the firm’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $134.80, for a total value of $3,909,200.00. Following the sale, the chief operating officer now owns 59,124 shares in the company, valued at $7,969,915.20. The disclosure for this sale can be found here. 0.22% of the stock is owned by company insiders.

NYSE:JNJ opened at $133.87 on Friday. Johnson & Johnson has a 52 week low of $118.62 and a 52 week high of $148.32. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.33 and a current ratio of 1.65. The stock has a market cap of $370.70 billion, a PE ratio of 18.34, a price-to-earnings-growth ratio of 2.19 and a beta of 0.70.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, July 17th. The company reported $2.10 EPS for the quarter, beating the Zacks’ consensus estimate of $2.06 by $0.04. Johnson & Johnson had a return on equity of 32.79% and a net margin of 1.70%. The firm had revenue of $20.83 billion for the quarter, compared to analysts’ expectations of $20.39 billion. During the same period last year, the firm earned $1.83 EPS. The company’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, analysts expect that Johnson & Johnson will post 8.14 EPS for the current fiscal year.

Several equities research analysts have weighed in on the company. Wells Fargo & Co reaffirmed an “outperform” rating and set a $160.00 price target on shares of Johnson & Johnson in a research report on Friday, September 14th. ValuEngine raised Johnson & Johnson from a “sell” rating to a “hold” rating in a research report on Saturday, July 28th. Goldman Sachs Group raised Johnson & Johnson from a “sell” rating to a “neutral” rating in a research report on Thursday, July 12th. Jefferies Financial Group set a $145.00 price target on Johnson & Johnson and gave the stock a “buy” rating in a research report on Sunday, July 15th. Finally, Credit Suisse Group set a $151.00 price target on Johnson & Johnson and gave the stock a “buy” rating in a research report on Friday, July 13th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $143.91.

Johnson & Johnson Profile

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. Its Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, RoC, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.

Featured Article: Yield Curve

Want to see what other hedge funds are holding JNJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Johnson & Johnson (NYSE:JNJ).

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

Receive News & Ratings for Johnson & Johnson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Johnson & Johnson and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply