Los Angeles Capital Management LLC Lowers Position in Johnson & Johnson (NYSE:JNJ)

Los Angeles Capital Management LLC decreased its stake in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 12.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,312,975 shares of the company’s stock after selling 181,773 shares during the quarter. Johnson & Johnson comprises about 1.1% of Los Angeles Capital Management LLC’s investment portfolio, making the stock its 14th biggest holding. Los Angeles Capital Management LLC owned about 0.05% of Johnson & Johnson worth $214,488,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Rice Partnership LLC raised its stake in Johnson & Johnson by 12.3% during the third quarter. Rice Partnership LLC now owns 53,655 shares of the company’s stock valued at $8,765,000 after buying an additional 5,868 shares during the last quarter. Aptus Capital Advisors LLC raised its stake in Johnson & Johnson by 7.2% during the third quarter. Aptus Capital Advisors LLC now owns 77,500 shares of the company’s stock valued at $12,661,000 after buying an additional 5,177 shares during the last quarter. Fagan Associates Inc. raised its stake in shares of Johnson & Johnson by 0.3% in the third quarter. Fagan Associates Inc. now owns 46,282 shares of the company’s stock worth $7,561,000 after purchasing an additional 145 shares during the last quarter. Summit X LLC raised its stake in shares of Johnson & Johnson by 7.8% in the third quarter. Summit X LLC now owns 3,486 shares of the company’s stock worth $567,000 after purchasing an additional 252 shares during the last quarter. Finally, Avantax Advisory Services Inc. raised its stake in shares of Johnson & Johnson by 3.2% in the third quarter. Avantax Advisory Services Inc. now owns 133,405 shares of the company’s stock worth $21,793,000 after purchasing an additional 4,134 shares during the last quarter. Hedge funds and other institutional investors own 67.94% of the company’s stock.

Wall Street Analysts Forecast Growth

JNJ has been the subject of several recent analyst reports. Barclays initiated coverage on Johnson & Johnson in a research note on Monday, October 17th. They issued an “equal weight” rating and a $175.00 price target for the company. SVB Leerink decreased their price target on Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating for the company in a research note on Friday, January 20th. Raymond James decreased their price target on Johnson & Johnson from $192.00 to $185.00 and set an “outperform” rating for the company in a research note on Wednesday, October 19th. Citigroup lifted their price objective on Johnson & Johnson from $198.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, December 12th. Finally, Bank of America cut their price objective on Johnson & Johnson from $185.00 to $178.00 and set a “neutral” rating for the company in a report on Friday, October 14th. Seven analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.75.

Insider Buying and Selling

In related news, CFO Joseph J. Wolk sold 14,781 shares of the business’s stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $179.60, for a total value of $2,654,667.60. Following the sale, the chief financial officer now directly owns 35,812 shares in the company, valued at $6,431,835.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Joseph J. Wolk sold 14,781 shares of the business’s stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $179.60, for a total value of $2,654,667.60. Following the sale, the chief financial officer now directly owns 35,812 shares in the company, valued at $6,431,835.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ashley Mcevoy sold 73,323 shares of the company’s stock in a transaction that occurred on Wednesday, November 30th. The shares were sold at an average price of $175.47, for a total value of $12,865,986.81. Following the sale, the executive vice president now owns 41,813 shares in the company, valued at $7,336,927.11. The disclosure for this sale can be found here. Over the last three months, insiders have sold 233,611 shares of company stock worth $40,960,735. Corporate insiders own 0.35% of the company’s stock.

Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock opened at $168.31 on Wednesday. The stock’s 50-day simple moving average is $175.98 and its 200-day simple moving average is $171.06. Johnson & Johnson has a 52 week low of $155.72 and a 52 week high of $186.69. The company has a market capitalization of $440.04 billion, a price-to-earnings ratio of 23.44, a PEG ratio of 3.21 and a beta of 0.56. The company has a quick ratio of 1.18, a current ratio of 1.43 and a debt-to-equity ratio of 0.37.

Johnson & Johnson (NYSE:JNJ – Get Rating) last announced its quarterly earnings data on Tuesday, January 24th. The company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.23 by $0.12. Johnson & Johnson had a return on equity of 35.37% and a net margin of 19.95%. The business had revenue of $23.71 billion for the quarter, compared to the consensus estimate of $23.90 billion. During the same period in the previous year, the business earned $2.13 earnings per share. The business’s revenue was down 4.4% on a year-over-year basis. As a group, analysts expect that Johnson & Johnson will post 10.04 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 7th. Investors of record on Tuesday, February 21st will be given a $1.13 dividend. The ex-dividend date of this dividend is Friday, February 17th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.69%. Johnson & Johnson’s dividend payout ratio is currently 62.95%.

About Johnson & Johnson

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Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer Health, Pharmaceutical, and Medical Devices. The Consumer Health segment includes products used in the baby care, oral care, beauty, over-the-counter pharmaceutical, women’s health, and wound care markets.