Logan Capital Management Inc. Decreases Stock Holdings in Johnson & Johnson $JNJ

Logan Capital Management Inc. reduced its position in shares of Johnson & Johnson (NYSE:JNJ) by 26.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,403 shares of the company’s stock after selling 28,482 shares during the period. Logan Capital Management Inc.’s holdings in Johnson & Johnson were worth $11,823,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in JNJ. Vanguard Group Inc. boosted its stake in shares of Johnson & Johnson by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 233,962,679 shares of the company’s stock valued at $38,800,371,000 after purchasing an additional 1,170,120 shares in the last quarter. Northern Trust Corp boosted its position in shares of Johnson & Johnson by 0.4% during the first quarter. Northern Trust Corp now owns 30,943,820 shares of the company’s stock valued at $5,131,723,000 after purchasing an additional 130,645 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Johnson & Johnson by 26.4% during the first quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company’s stock valued at $3,844,580,000 after buying an additional 4,842,582 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Johnson & Johnson by 3.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,899,263 shares of the company’s stock worth $3,133,602,000 after buying an additional 712,181 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in Johnson & Johnson by 2.5% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 18,282,410 shares of the company’s stock valued at $3,031,955,000 after acquiring an additional 448,666 shares during the period. 69.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on JNJ shares. Erste Group Bank raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Loop Capital set a $190.00 price target on Johnson & Johnson in a research note on Wednesday, October 22nd. Argus set a $210.00 price objective on Johnson & Johnson in a research note on Wednesday, October 15th. Wells Fargo & Company set a $212.00 target price on Johnson & Johnson and gave the stock an “overweight” rating in a report on Friday, October 3rd. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $209.00 price target on shares of Johnson & Johnson in a report on Friday, October 10th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average target price of $199.05.

Insider Transactions at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total value of $10,041,108.51. Following the sale, the executive vice president owned 178,013 shares in the company, valued at approximately $31,652,491.53. This trade represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Down 0.0%

Johnson & Johnson stock opened at $190.31 on Tuesday. The firm has a market cap of $458.50 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 2.24 and a beta of 0.40. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $194.48. The stock has a fifty day simple moving average of $182.54 and a two-hundred day simple moving average of $166.65.

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

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 25th will be given a dividend of $1.30 per share. The ex-dividend date 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 is 50.19%.

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.