Delta Asset Management LLC TN Cuts Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Delta Asset Management LLC TN lowered its stake in Johnson & Johnson (NYSE:JNJGet Rating) by 1.8% during the second quarter, Holdings Channel.com reports. The fund owned 41,685 shares of the company’s stock after selling 773 shares during the quarter. Delta Asset Management LLC TN’s holdings in Johnson & Johnson were worth $7,399,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. RE Dickinson Investment Advisors LLC boosted its stake in Johnson & Johnson by 163.3% during the 1st quarter. RE Dickinson Investment Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after purchasing an additional 98 shares during the last quarter. Advanced Research Investment Solutions LLC raised its holdings in shares of Johnson & Johnson by 200.0% during the 1st quarter. Advanced Research Investment Solutions LLC now owns 180 shares of the company’s stock worth $32,000 after acquiring an additional 120 shares during the period. Morton Brown Family Wealth LLC raised its holdings in shares of Johnson & Johnson by 78.0% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 178 shares of the company’s stock worth $32,000 after acquiring an additional 78 shares during the period. Professional Financial Advisors LLC raised its holdings in shares of Johnson & Johnson by 47.9% during the 1st quarter. Professional Financial Advisors LLC now owns 210 shares of the company’s stock worth $37,000 after acquiring an additional 68 shares during the period. Finally, Goodman Advisory Group LLC purchased a new position in shares of Johnson & Johnson during the 2nd quarter worth $39,000. Institutional investors and hedge funds own 68.59% of the company’s stock.

Wall Street Analysts Forecast Growth

JNJ has been the topic of several analyst reports. StockNews.com initiated coverage on Johnson & Johnson in a report on Wednesday, October 12th. They set a “strong-buy” rating on the stock. Morgan Stanley reduced their price target on Johnson & Johnson from $174.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 19th. Citigroup reduced their price objective on shares of Johnson & Johnson from $201.00 to $198.00 in a report on Wednesday, October 5th. Credit Suisse Group started coverage on shares of Johnson & Johnson in a report on Thursday, November 17th. They issued a “neutral” rating and a $170.00 price objective on the stock. Finally, Atlantic Securities reduced their price objective on shares of Johnson & Johnson from $165.00 to $160.00 and set a “neutral” rating on the stock in a report on Wednesday, October 19th. Seven investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $181.33.

Insider Transactions at Johnson & Johnson

In other news, CAO Robert J. Decker sold 16,928 shares of the business’s stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $175.00, for a total transaction of $2,962,400.00. Following the completion of the transaction, the chief accounting officer now directly owns 15,473 shares of the company’s stock, valued at $2,707,775. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Jennifer L. Taubert sold 76,923 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $176.78, for a total value of $13,598,447.94. Following the completion of the transaction, the executive vice president now directly owns 126,456 shares of the company’s stock, valued at $22,354,891.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Robert J. Decker sold 16,928 shares of the company’s stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $175.00, for a total value of $2,962,400.00. Following the completion of the transaction, the chief accounting officer now directly owns 15,473 shares of the company’s stock, valued at $2,707,775. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 212,646 shares of company stock valued at $36,791,022. 0.35% of the stock is currently owned by corporate insiders.

Johnson & Johnson Stock Up 0.1 %

Shares of NYSE:JNJ opened at $177.01 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.43 and a quick ratio of 1.18. The firm has a market capitalization of $462.79 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 3.49 and a beta of 0.57. The firm’s 50-day moving average is $168.35 and its two-hundred day moving average is $171.28. Johnson & Johnson has a 1 year low of $155.72 and a 1 year high of $186.69.

Johnson & Johnson (NYSE:JNJGet Rating) last issued its quarterly earnings results on Tuesday, October 18th. The company reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. Johnson & Johnson had a net margin of 19.95% and a return on equity of 35.37%. The company had revenue of $23.79 billion for the quarter, compared to analyst estimates of $23.44 billion. During the same period in the prior year, the firm earned $2.60 earnings per share. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. Analysts predict that Johnson & Johnson will post 10.04 EPS for the current year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 6th. Stockholders of record on Tuesday, November 22nd will be given a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Monday, November 21st. Johnson & Johnson’s dividend payout ratio is presently 62.95%.

Johnson & Johnson announced that its board has authorized a stock buyback plan on Wednesday, September 14th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to purchase up to 1.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Johnson & Johnson Profile

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Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment offers baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.

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

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