Sadoff Investment Management LLC Lowers Stake in Johnson & Johnson (NYSE:JNJ)

Sadoff Investment Management LLC reduced its position in shares of Johnson & Johnson (NYSE:JNJ) by 9.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,686 shares of the company’s stock after selling 500 shares during the quarter. Sadoff Investment Management LLC’s holdings in Johnson & Johnson were worth $698,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Newfound Research LLC purchased a new position in Johnson & Johnson in the 3rd quarter valued at about $28,000. Essex Investment Management Co. LLC acquired a new stake in Johnson & Johnson in the 3rd quarter valued at about $37,000. Islay Capital Management LLC acquired a new stake in Johnson & Johnson in the 2nd quarter valued at about $42,000. FAI Wealth Management raised its holdings in Johnson & Johnson by 45.9% in the 2nd quarter. FAI Wealth Management now owns 321 shares of the company’s stock valued at $45,000 after acquiring an additional 101 shares during the last quarter. Finally, HWG Holdings LP acquired a new stake in Johnson & Johnson in the 2nd quarter valued at about $49,000. 67.44% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have commented on JNJ. ValuEngine upgraded shares of Johnson & Johnson from a “sell” rating to a “hold” rating in a report on Monday, August 3rd. Stifel Nicolaus downgraded shares of Johnson & Johnson from a “buy” rating to a “hold” rating in a report on Wednesday, August 19th. Credit Suisse Group raised their price target on shares of Johnson & Johnson from $163.00 to $168.00 and gave the stock an “outperform” rating in a report on Wednesday, October 14th. Raymond James restated a “buy” rating on shares of Johnson & Johnson in a report on Friday, November 20th. Finally, Cantor Fitzgerald raised their price target on shares of Johnson & Johnson from $168.00 to $180.00 and gave the stock an “overweight” rating in a report on Wednesday, October 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. Johnson & Johnson has a consensus rating of “Buy” and a consensus price target of $164.93.

In other Johnson & Johnson news, EVP Kathryn E. Wengel sold 16,115 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $153.52, for a total value of $2,473,974.80. Following the completion of the transaction, the executive vice president now owns 66,658 shares of the company’s stock, valued at approximately $10,233,336.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.27% of the company’s stock.

NYSE:JNJ opened at $144.68 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.24 and a current ratio of 1.48. Johnson & Johnson has a fifty-two week low of $109.16 and a fifty-two week high of $157.00. The stock has a market capitalization of $380.88 billion, a P/E ratio of 22.75, a PEG ratio of 3.04 and a beta of 0.69. The company has a 50 day moving average price of $144.85 and a 200 day moving average price of $146.39.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Sunday, October 18th. The company reported $2.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.98 by $0.22. Johnson & Johnson had a net margin of 21.01% and a return on equity of 34.64%. The company had revenue of $21.08 billion during the quarter, compared to analysts’ expectations of $20.15 billion. During the same quarter last year, the company posted $2.12 EPS. The firm’s revenue was up 1.7% compared to the same quarter last year. Research analysts forecast that Johnson & Johnson will post 7.99 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 8th. Shareholders of record on Tuesday, November 24th will be given a $1.01 dividend. The ex-dividend date is Monday, November 23rd. This represents a $4.04 annualized dividend and a yield of 2.79%. Johnson & Johnson’s dividend payout ratio is presently 46.54%.

Johnson & Johnson Profile

Johnson & Johnson researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The 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, DR.

Further Reading: Bond

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

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