Cito Capital Group LLC cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 6.5% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 14,468 shares of the company’s stock after selling 1,000 shares during the period. Johnson & Johnson makes up approximately 1.1% of Cito Capital Group LLC’s holdings, making the stock its 16th largest holding. Cito Capital Group LLC’s holdings in Johnson & Johnson were worth $2,337,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC lifted its position in Johnson & Johnson by 3.3% during the 3rd quarter. Mutual of America Capital Management LLC now owns 354,720 shares of the company’s stock worth $57,287,000 after acquiring an additional 11,295 shares in the last quarter. German American Bancorp Inc. raised its position in shares of Johnson & Johnson by 3.1% in the 3rd quarter. German American Bancorp Inc. now owns 45,841 shares of the company’s stock valued at $7,404,000 after purchasing an additional 1,398 shares in the last quarter. Panagora Asset Management Inc. raised its position in shares of Johnson & Johnson by 13.9% in the 3rd quarter. Panagora Asset Management Inc. now owns 948,568 shares of the company’s stock valued at $153,194,000 after purchasing an additional 115,480 shares in the last quarter. Formidable Asset Management LLC raised its position in shares of Johnson & Johnson by 14.8% in the 3rd quarter. Formidable Asset Management LLC now owns 9,265 shares of the company’s stock valued at $1,496,000 after purchasing an additional 1,195 shares in the last quarter. Finally, IndexIQ Advisors LLC raised its position in shares of Johnson & Johnson by 3.3% in the 3rd quarter. IndexIQ Advisors LLC now owns 65,121 shares of the company’s stock valued at $10,517,000 after purchasing an additional 2,077 shares in the last quarter. 67.48% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:JNJ traded down $0.75 during midday trading on Friday, hitting $168.01. The company had a trading volume of 170,233 shares, compared to its average volume of 6,336,759. Johnson & Johnson has a 12 month low of $151.47 and a 12 month high of $179.92. The company has a current ratio of 1.34, a quick ratio of 1.11 and a debt-to-equity ratio of 0.43. The stock has a market cap of $442.30 billion, a price-to-earnings ratio of 25.08, a PEG ratio of 2.36 and a beta of 0.74. The firm has a fifty day simple moving average of $165.94 and a 200 day simple moving average of $167.40.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 8th. Stockholders of record on Tuesday, February 22nd will be given a $1.06 dividend. The ex-dividend date of this dividend is Friday, February 18th. This represents a $4.24 annualized dividend and a dividend yield of 2.52%. Johnson & Johnson’s dividend payout ratio is currently 63.38%.
JNJ has been the topic of a number of recent analyst reports. Zacks Investment Research raised Johnson & Johnson from a “hold” rating to a “buy” rating and set a $172.00 target price on the stock in a research report on Friday, October 22nd. The Goldman Sachs Group assumed coverage on Johnson & Johnson in a research report on Friday, December 17th. They issued a “neutral” rating and a $161.00 target price on the stock. Citigroup reiterated a “buy” rating and issued a $195.00 price target (up from $192.00) on shares of Johnson & Johnson in a report on Wednesday, December 15th. Wells Fargo & Company reiterated a “buy” rating on shares of Johnson & Johnson in a report on Thursday, October 7th. Finally, Raymond James lowered their price target on Johnson & Johnson from $183.00 to $178.00 and set an “outperform” rating for the company in a report on Wednesday, October 20th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Buy” and a consensus target price of $186.00.
In other Johnson & Johnson news, CAO Robert J. Decker sold 5,000 shares of Johnson & Johnson stock in a transaction dated Tuesday, December 7th. The stock was sold at an average price of $163.21, for a total transaction of $816,050.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.30% of the company’s stock.
About Johnson & Johnson
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.
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