First City Capital Management Inc. Lowers Position in Johnson & Johnson (JNJ)

First City Capital Management Inc. lowered its stake in shares of Johnson & Johnson (NYSE:JNJ) by 3.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,930 shares of the company’s stock after selling 549 shares during the quarter. Johnson & Johnson comprises about 1.3% of First City Capital Management Inc.’s holdings, making the stock its 19th largest position. First City Capital Management Inc.’s holdings in Johnson & Johnson were worth $1,860,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in shares of Johnson & Johnson by 4.3% during the first quarter. State Street Corp now owns 160,223,321 shares of the company’s stock worth $19,955,806,000 after buying an additional 6,656,371 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Johnson & Johnson by 1.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 11,150,339 shares of the company’s stock worth $1,388,775,000 after buying an additional 201,703 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Johnson & Johnson by 1.2% during the first quarter. Fisher Asset Management LLC now owns 11,093,898 shares of the company’s stock worth $1,381,745,000 after buying an additional 136,764 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Johnson & Johnson by 0.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,948,942 shares of the company’s stock worth $990,041,000 after buying an additional 42,144 shares during the last quarter. Finally, Macquarie Group Ltd. grew its holdings in shares of Johnson & Johnson by 5.6% during the fourth quarter. Macquarie Group Ltd. now owns 6,851,198 shares of the company’s stock worth $789,328,000 after buying an additional 362,616 shares during the last quarter. 66.00% of the stock is currently owned by hedge funds and other institutional investors.

In related news, VP Paulus Stoffels sold 102,692 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $133.14, for a total value of $13,672,412.88. Following the completion of the sale, the vice president now owns 230,342 shares in the company, valued at approximately $30,667,733.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Dominic J. Caruso sold 82,591 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $136.72, for a total transaction of $11,291,841.52. Following the completion of the sale, the vice president now owns 226,693 shares of the company’s stock, valued at approximately $30,993,466.96. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.

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A number of research firms recently issued reports on JNJ. Credit Suisse Group reissued a “buy” rating on shares of Johnson & Johnson in a report on Friday, August 4th. Alembic Global Advisors lowered Johnson & Johnson from a “neutral” rating to an “underweight” rating in a report on Friday, July 21st. UBS AG reaffirmed a “buy” rating and issued a $148.00 price objective on shares of Johnson & Johnson in a report on Thursday, August 31st. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $135.00 price objective (up previously from $132.00) on shares of Johnson & Johnson in a report on Thursday, July 6th. Finally, Zacks Investment Research lowered Johnson & Johnson from a “buy” rating to a “hold” rating in a report on Friday, July 21st. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $134.60.

Johnson & Johnson (JNJ) traded down 0.50% during midday trading on Wednesday, hitting $131.97. 1,813,517 shares of the stock were exchanged. Johnson & Johnson has a 52 week low of $109.32 and a 52 week high of $137.08. The stock has a market cap of $354.21 billion, a price-to-earnings ratio of 22.33 and a beta of 0.79. The firm’s 50-day moving average is $132.42 and its 200 day moving average is $128.96.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, July 18th. The company reported $1.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.79 by $0.04. The firm had revenue of $18.84 billion during the quarter, compared to analysts’ expectations of $18.94 billion. Johnson & Johnson had a net margin of 22.52% and a return on equity of 26.76%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the firm posted $1.74 earnings per share. Equities research analysts expect that Johnson & Johnson will post $7.18 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Tuesday, August 29th were given a $0.84 dividend. The ex-dividend date of this dividend was Friday, August 25th. This represents a $3.36 annualized dividend and a dividend yield of 2.53%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 56.76%.

Johnson & Johnson Profile

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. It operates through three segments: Consumer, Pharmaceutical and Medical Devices. Its primary focus is products related to human health and well-being.

Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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