Stewart & Patten Co. LLC cut its position in shares of Johnson & Johnson (NYSE:JNJ) by 1.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 242,214 shares of the company’s stock after selling 3,090 shares during the period. Johnson & Johnson comprises approximately 5.8% of Stewart & Patten Co. LLC’s portfolio, making the stock its 2nd largest position. Stewart & Patten Co. LLC’s holdings in Johnson & Johnson were worth $29,380,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Americafirst Capital Management LLC purchased a new stake in shares of Johnson & Johnson during the second quarter worth $101,000. Capital Asset Advisory Services LLC purchased a new stake in shares of Johnson & Johnson during the second quarter worth $202,000. Terra Nova Asset Management LLC purchased a new stake in shares of Johnson & Johnson during the first quarter worth $243,000. Daiwa SB Investments Ltd. increased its stake in shares of Johnson & Johnson by 8.4% in the second quarter. Daiwa SB Investments Ltd. now owns 2,970 shares of the company’s stock worth $354,000 after buying an additional 230 shares during the period. Finally, Pure Financial Advisors Inc. purchased a new stake in shares of Johnson & Johnson during the second quarter worth $355,000. 65.32% of the stock is owned by hedge funds and other institutional investors.
Johnson & Johnson (NYSE:JNJ) traded up 0.41% on Friday, hitting $119.24. 4,799,292 shares of the company’s stock were exchanged. The stock has a market cap of $326.23 billion, a P/E ratio of 22.22 and a beta of 0.62. Johnson & Johnson has a 52-week low of $94.12 and a 52-week high of $126.07. The firm has a 50 day moving average price of $118.85 and a 200-day moving average price of $117.07.
Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, July 19th. The company reported $1.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.68 by $0.06. The firm earned $18.50 billion during the quarter, compared to analyst estimates of $17.98 billion. Johnson & Johnson had a net margin of 20.97% and a return on equity of 24.70%. Analysts predict that Johnson & Johnson will post $6.69 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on JNJ shares. Vetr raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and set a $124.21 price target for the company in a report on Monday, August 22nd. Barclays PLC reaffirmed an “overweight” rating and set a $125.00 price target (up previously from $120.00) on shares of Johnson & Johnson in a report on Sunday, July 10th. Zacks Investment Research raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and set a $139.00 price target for the company in a report on Friday, August 5th. BTIG Research reaffirmed a “neutral” rating on shares of Johnson & Johnson in a report on Wednesday, September 7th. Finally, Jefferies Group upped their price target on shares of Johnson & Johnson from $109.00 to $113.00 and gave the stock a “hold” rating in a report on Thursday, July 14th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $120.19.
In other news, CAO Ronald A. Kapusta sold 2,935 shares of the business’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $125.01, for a total value of $366,904.35. Following the completion of the sale, the chief accounting officer now directly owns 28,660 shares in the company, valued at approximately $3,582,786.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Dominic J. Caruso sold 41,146 shares of the business’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $125.01, for a total transaction of $5,143,661.46. Following the completion of the sale, the vice president now owns 157,819 shares of the company’s stock, valued at $19,728,953.19. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by insiders.
About Johnson & Johnson
Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. The Company’s segments include Consumer, Pharmaceutical and Medical Devices. The Consumer segment includes a range of products used in the baby care, oral care, skin care, over-the-counter pharmaceutical, women’s health and wound care markets.
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).
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.