MV Capital Management Inc. Reduces Stock Position in Johnson & Johnson $JNJ

MV Capital Management Inc. trimmed its position in shares of Johnson & Johnson (NYSE:JNJ) by 4.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 18,433 shares of the company’s stock after selling 770 shares during the quarter. MV Capital Management Inc.’s holdings in Johnson & Johnson were worth $2,816,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of JNJ. GFG Capital LLC bought a new stake in shares of Johnson & Johnson during the 2nd quarter valued at about $35,000. Stone House Investment Management LLC purchased a new position in shares of Johnson & Johnson in the first quarter worth approximately $47,000. 1248 Management LLC bought a new stake in Johnson & Johnson during the first quarter valued at approximately $48,000. Harvest Fund Management Co. Ltd bought a new position in Johnson & Johnson in the first quarter worth approximately $52,000. Finally, Pandora Wealth Inc. purchased a new position in shares of Johnson & Johnson during the 1st quarter worth $65,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on JNJ. Royal Bank Of Canada reiterated an “outperform” rating and set a $209.00 price objective on shares of Johnson & Johnson in a research note on Friday, October 10th. Daiwa Capital Markets upgraded Johnson & Johnson from a “neutral” rating to an “outperform” rating and set a $203.00 price target for the company in a research note on Monday, October 20th. Barclays increased their target price on Johnson & Johnson from $165.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 17th. The Goldman Sachs Group upped their target price on shares of Johnson & Johnson from $186.00 to $212.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Finally, Stifel Nicolaus lifted their price target on shares of Johnson & Johnson from $165.00 to $190.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Three equities research 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. Based on data from MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus price target of $199.05.

Johnson & Johnson Stock Up 0.4%

Shares of NYSE:JNJ opened at $194.52 on Thursday. The company has a market cap of $468.65 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 2.19 and a beta of 0.38. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $195.55. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average price of $185.13 and a 200 day moving average price of $169.48.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data 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%. As a group, equities research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 25th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 2.7%. The ex-dividend date is Tuesday, November 25th. Johnson & Johnson’s dividend payout ratio is presently 50.19%.

Insider Buying and Selling

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson 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 transaction, the executive vice president directly owned 178,013 shares of the company’s stock, valued at $31,652,491.53. The trade was a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is owned by insiders.

About Johnson & Johnson

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.