Johnson & Johnson (NYSE:JNJ) Shares Sold by Hayek Kallen Investment Management

Hayek Kallen Investment Management decreased its holdings in Johnson & Johnson (NYSE:JNJGet Rating) by 0.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 35,859 shares of the company’s stock after selling 275 shares during the quarter. Johnson & Johnson comprises about 2.8% of Hayek Kallen Investment Management’s investment portfolio, making the stock its 9th largest holding. Hayek Kallen Investment Management’s holdings in Johnson & Johnson were worth $6,365,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. KerberRose Wealth Management LLC acquired a new position in shares of Johnson & Johnson during the second quarter worth $420,000. Corepath Wealth Partners LLC grew its stake in shares of Johnson & Johnson by 43.9% during the second quarter. Corepath Wealth Partners LLC now owns 2,629 shares of the company’s stock worth $462,000 after purchasing an additional 802 shares in the last quarter. Wagner Wealth Management LLC grew its stake in shares of Johnson & Johnson by 18.0% during the second quarter. Wagner Wealth Management LLC now owns 2,553 shares of the company’s stock worth $453,000 after purchasing an additional 389 shares in the last quarter. Marble Harbor Investment Counsel LLC grew its stake in shares of Johnson & Johnson by 0.3% during the second quarter. Marble Harbor Investment Counsel LLC now owns 54,677 shares of the company’s stock worth $9,706,000 after purchasing an additional 179 shares in the last quarter. Finally, Blackston Financial Advisory Group LLC grew its stake in shares of Johnson & Johnson by 8.4% during the second quarter. Blackston Financial Advisory Group LLC now owns 3,145 shares of the company’s stock worth $561,000 after purchasing an additional 245 shares in the last quarter. Institutional investors and hedge funds own 68.59% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on JNJ shares. Morgan Stanley lowered their target price on shares of Johnson & Johnson from $174.00 to $170.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 19th. Sanford C. Bernstein lowered their target price on shares of Johnson & Johnson from $194.00 to $190.00 in a research note on Wednesday, October 19th. Citigroup lowered their target price on shares of Johnson & Johnson from $201.00 to $198.00 in a research note on Wednesday, October 5th. StockNews.com initiated coverage on shares of Johnson & Johnson in a research report on Wednesday, October 12th. They issued a “strong-buy” rating for the company. Finally, Credit Suisse Group initiated coverage on shares of Johnson & Johnson in a research report on Thursday, November 17th. They issued a “neutral” rating and a $170.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $181.33.

Insider Activity

In related news, VP Peter Fasolo sold 22,864 shares of the stock in a transaction dated Wednesday, October 19th. The shares were sold at an average price of $164.50, for a total transaction of $3,761,128.00. Following the completion of the transaction, the vice president now directly owns 114,676 shares of the company’s stock, valued at $18,864,202. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Peter Fasolo sold 22,864 shares of the stock in a transaction dated Wednesday, October 19th. The shares were sold at an average price of $164.50, for a total transaction of $3,761,128.00. Following the completion of the transaction, the vice president now directly owns 114,676 shares of the company’s stock, valued at $18,864,202. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jennifer L. Taubert sold 76,923 shares of the stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $176.78, for a total transaction of $13,598,447.94. Following the transaction, the executive vice president now directly owns 126,456 shares of the company’s stock, valued at $22,354,891.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 212,646 shares of company stock valued at $36,791,022. Insiders own 0.35% of the company’s stock.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $177.01 on Thursday. The company has a 50-day simple moving average of $168.35 and a 200-day simple moving average of $171.28. Johnson & Johnson has a one year low of $155.72 and a one year high of $186.69. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.18 and a current ratio of 1.43. The stock has a market capitalization of $462.79 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 3.49 and a beta of 0.57.

Johnson & Johnson (NYSE:JNJGet Rating) last announced its earnings results on Tuesday, October 18th. The company reported $2.55 EPS for the quarter, beating 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 business had revenue of $23.79 billion during the quarter, compared to analysts’ expectations of $23.44 billion. During the same period in the prior year, the company earned $2.60 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. On average, analysts predict that Johnson & Johnson will post 10.04 EPS for the current year.

Johnson & Johnson Announces Dividend

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

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

About Johnson & Johnson

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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.

See Also

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

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