Roosevelt Investment Group Inc. Lowers Holdings in Johnson & Johnson (JNJ)

Roosevelt Investment Group Inc. decreased its stake in Johnson & Johnson (NYSE:JNJ) by 20.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 164,513 shares of the company’s stock after selling 41,635 shares during the period. Johnson & Johnson makes up 1.9% of Roosevelt Investment Group Inc.’s portfolio, making the stock its 17th largest position. Roosevelt Investment Group Inc.’s holdings in Johnson & Johnson were worth $19,962,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. R.M.SINCERBEAUX Capital Management LLC grew its stake in Johnson & Johnson by 11.7% in the 2nd quarter. R.M.SINCERBEAUX Capital Management LLC now owns 3,652 shares of the company’s stock worth $443,000 after buying an additional 382 shares in the last quarter. Tufton Capital Management lifted its holdings in shares of Johnson & Johnson by 0.4% in the 2nd quarter. Tufton Capital Management now owns 88,258 shares of the company’s stock worth $10,709,000 after acquiring an additional 382 shares during the last quarter. SFE Investment Counsel lifted its holdings in shares of Johnson & Johnson by 1.8% in the 2nd quarter. SFE Investment Counsel now owns 22,110 shares of the company’s stock worth $2,683,000 after acquiring an additional 383 shares during the last quarter. Capital Advantage Inc. lifted its holdings in shares of Johnson & Johnson by 4.4% in the 2nd quarter. Capital Advantage Inc. now owns 9,436 shares of the company’s stock worth $1,145,000 after acquiring an additional 394 shares during the last quarter. Finally, Sather Financial Group Inc lifted its holdings in shares of Johnson & Johnson by 3.7% in the 2nd quarter. Sather Financial Group Inc now owns 11,051 shares of the company’s stock worth $1,341,000 after acquiring an additional 399 shares during the last quarter. 66.51% of the stock is currently owned by institutional investors and hedge funds.

NYSE:JNJ opened at $145.91 on Friday. Johnson & Johnson has a 1-year low of $118.62 and a 1-year high of $148.99. The stock has a market capitalization of $391.78 billion, a PE ratio of 19.99, a price-to-earnings-growth ratio of 2.28 and a beta of 0.59. The company has a current ratio of 1.72, a quick ratio of 1.40 and a debt-to-equity ratio of 0.46.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, October 16th. The company reported $2.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.02. Johnson & Johnson had a net margin of 1.89% and a return on equity of 34.62%. The company had revenue of $20.35 billion for the quarter, compared to the consensus estimate of $20.05 billion. During the same period in the prior year, the firm posted $1.90 EPS. Johnson & Johnson’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, analysts forecast that Johnson & Johnson will post 8.16 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 11th. Investors of record on Tuesday, November 27th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Monday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is 49.32%.

A number of research firms recently commented on JNJ. Raymond James upped their price target on shares of Johnson & Johnson from $144.00 to $149.00 and gave the company an “outperform” rating in a report on Wednesday, October 17th. Credit Suisse Group upped their price target on shares of Johnson & Johnson from $149.00 to $152.00 and gave the company an “outperform” rating in a report on Wednesday, October 17th. Citigroup upped their price target on shares of Johnson & Johnson from $137.00 to $148.00 and gave the company a “neutral” rating in a report on Monday, October 22nd. Zacks Investment Research lowered shares of Johnson & Johnson from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Wells Fargo & Co reiterated an “outperform” rating and set a $160.00 price target (up from $155.00) on shares of Johnson & Johnson in a report on Wednesday, October 17th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $143.90.

In related news, EVP Michael E. Sneed sold 30,943 shares of the stock in a transaction dated Friday, November 23rd. The shares were sold at an average price of $142.46, for a total transaction of $4,408,139.78. Following the sale, the executive vice president now directly owns 70,817 shares of the company’s stock, valued at approximately $10,088,589.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Ronald A. Kapusta sold 8,441 shares of the firm’s stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $145.15, for a total transaction of $1,225,211.15. Following the sale, the chief accounting officer now directly owns 17,284 shares in the company, valued at approximately $2,508,772.60. The disclosure for this sale can be found here. Insiders have sold a total of 510,544 shares of company stock worth $74,414,877 over the last three months. 0.22% of the stock is currently owned by insiders.

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Johnson & Johnson Profile

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, Pharmaceutical, and Medical Devices. The Consumer segment includes products used in the baby care, oral care, beauty, over-the-counter pharmaceutical, women’s health, and wound care markets.

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

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