Monterey Private Wealth Inc. Reduces Position in Johnson & Johnson (NYSE:JNJ)

Monterey Private Wealth Inc. decreased its holdings in Johnson & Johnson (NYSE:JNJ) by 24.1% in the second quarter, Holdings Channel.com reports. The institutional investor owned 3,822 shares of the company’s stock after selling 1,214 shares during the period. Monterey Private Wealth Inc.’s holdings in Johnson & Johnson were worth $633,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of JNJ. Moneta Group Investment Advisors LLC boosted its holdings in Johnson & Johnson by 90,144.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 54,386,720 shares of the company’s stock worth $9,607,414,000 after purchasing an additional 54,326,454 shares during the last quarter. Norges Bank bought a new position in shares of Johnson & Johnson during the 4th quarter valued at $4,609,399,000. Providence Capital Advisors LLC boosted its stake in shares of Johnson & Johnson by 141,974.0% in the 1st quarter. Providence Capital Advisors LLC now owns 4,750,956 shares of the company’s stock worth $30,651,000 after buying an additional 4,747,612 shares during the last quarter. Morgan Stanley grew its holdings in shares of Johnson & Johnson by 12.0% in the fourth quarter. Morgan Stanley now owns 42,224,521 shares of the company’s stock worth $7,458,962,000 after acquiring an additional 4,521,062 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in Johnson & Johnson by 15.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,277,774 shares of the company’s stock valued at $5,171,919,000 after acquiring an additional 3,849,148 shares during the last quarter. Institutional investors own 68.40% of the company’s stock.

Insider Activity

In other Johnson & Johnson news, VP Peter Fasolo sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $170.32, for a total transaction of $3,406,400.00. Following the sale, the vice president now directly owns 102,696 shares of the company’s stock, valued at $17,491,182.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider William Hait sold 14,698 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $172.00, for a total transaction of $2,528,056.00. Following the transaction, the insider now directly owns 87,747 shares in the company, valued at approximately $15,092,484. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Peter Fasolo sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $170.32, for a total transaction of $3,406,400.00. Following the completion of the sale, the vice president now directly owns 102,696 shares of the company’s stock, valued at approximately $17,491,182.72. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Johnson & Johnson Stock Up 0.6 %

JNJ opened at $162.41 on Tuesday. Johnson & Johnson has a 52 week low of $150.11 and a 52 week high of $181.04. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 0.44. The firm has a 50-day simple moving average of $166.21 and a two-hundred day simple moving average of $161.83. The company has a market capitalization of $422.10 billion, a PE ratio of 32.88, a price-to-earnings-growth ratio of 3.26 and a beta of 0.54.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Thursday, July 20th. The company reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.18. Johnson & Johnson had a return on equity of 36.72% and a net margin of 13.35%. The company had revenue of $25.53 billion during the quarter, compared to analyst estimates of $24.63 billion. During the same period in the prior year, the company earned $2.59 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. Analysts forecast that Johnson & Johnson will post 10.03 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Monday, August 28th were issued a $1.19 dividend. The ex-dividend date of this dividend was Friday, August 25th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.93%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 96.36%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Stifel Nicolaus raised their price objective on shares of Johnson & Johnson from $165.00 to $175.00 in a report on Friday, July 21st. Barclays dropped their price target on shares of Johnson & Johnson from $175.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Friday, September 8th. JPMorgan Chase & Co. upped their price objective on Johnson & Johnson from $175.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, July 21st. Raymond James lowered their target price on Johnson & Johnson from $184.00 to $179.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 5th. Finally, Citigroup started coverage on Johnson & Johnson in a research report on Tuesday, May 30th. They issued a “buy” rating and a $185.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $170.65.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment provides skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR. CI:LABO, NEUTROGENA, and OGX brands; baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; TYLENOL acetaminophen products; SUDAFED cold, flu, and allergy products; BENADRYL and ZYRTEC allergy products; MOTRIN IB ibuprofen products; NICORETTE smoking cessation products; and PEPCID acid reflux products.