Kornitzer Capital Management Inc. KS Has $53.38 Million Holdings in Johnson & Johnson $JNJ

Kornitzer Capital Management Inc. KS cut its position in shares of Johnson & Johnson (NYSE:JNJ) by 1.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 349,458 shares of the company’s stock after selling 3,730 shares during the period. Johnson & Johnson comprises about 1.1% of Kornitzer Capital Management Inc. KS’s investment portfolio, making the stock its 19th largest position. Kornitzer Capital Management Inc. KS’s holdings in Johnson & Johnson were worth $53,380,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of JNJ. Apexium Financial LP lifted its holdings in shares of Johnson & Johnson by 10.7% during the 1st quarter. Apexium Financial LP now owns 23,989 shares of the company’s stock worth $3,978,000 after acquiring an additional 2,310 shares during the period. Avanza Fonder AB lifted its stake in Johnson & Johnson by 2.9% during the second quarter. Avanza Fonder AB now owns 234,647 shares of the company’s stock worth $35,842,000 after purchasing an additional 6,566 shares during the period. Joel Isaacson & Co. LLC boosted its holdings in Johnson & Johnson by 3.5% during the first quarter. Joel Isaacson & Co. LLC now owns 74,132 shares of the company’s stock valued at $12,294,000 after purchasing an additional 2,526 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Johnson & Johnson by 7.0% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 73,350 shares of the company’s stock worth $12,164,000 after buying an additional 4,816 shares in the last quarter. Finally, Klingman & Associates LLC lifted its position in shares of Johnson & Johnson by 13.4% during the 1st quarter. Klingman & Associates LLC now owns 16,984 shares of the company’s stock worth $2,817,000 after buying an additional 2,005 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Down 1.1%

Shares of JNJ opened at $190.38 on Friday. The firm has a market capitalization of $458.69 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 2.24 and a beta of 0.40. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $194.48. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.07. The business’s fifty day moving average price is $182.26 and its two-hundred day moving average price is $166.25.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. The business had revenue of $24.02 billion for the quarter. Johnson & Johnson had a return on equity of 32.73% and a net margin of 27.26%. On average, analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $5.20 dividend on an annualized basis and a yield of 2.7%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 50.19%.

Insider Buying and Selling

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the company’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the completion of the sale, the executive vice president owned 178,013 shares in the company, valued at approximately $31,652,491.53. The trade was a 24.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Loop Capital set a $190.00 target price on shares of Johnson & Johnson in a research note on Wednesday. Argus set a $210.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, October 15th. Guggenheim upgraded shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and lifted their target price for the company from $167.00 to $206.00 in a research note on Tuesday, September 23rd. Cowen reaffirmed a “buy” rating on shares of Johnson & Johnson in a report on Tuesday, October 14th. Finally, Erste Group Bank raised Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $199.05.

Johnson & Johnson Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.