Johnson & Johnson $JNJ Holdings Cut by Peninsula Asset Management Inc.

Peninsula Asset Management Inc. reduced its stake in shares of Johnson & Johnson (NYSE:JNJ) by 14.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,650 shares of the company’s stock after selling 280 shares during the period. Peninsula Asset Management Inc.’s holdings in Johnson & Johnson were worth $252,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of JNJ. Clark Asset Management LLC grew its holdings in shares of Johnson & Johnson by 51.6% in the 2nd quarter. Clark Asset Management LLC now owns 8,884 shares of the company’s stock worth $1,357,000 after purchasing an additional 3,025 shares during the last quarter. Apexium Financial LP boosted its position in Johnson & Johnson by 10.7% in the first quarter. Apexium Financial LP now owns 23,989 shares of the company’s stock valued at $3,978,000 after buying an additional 2,310 shares in the last quarter. Avanza Fonder AB grew its stake in Johnson & Johnson by 2.9% during the second quarter. Avanza Fonder AB now owns 234,647 shares of the company’s stock worth $35,842,000 after buying an additional 6,566 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of Johnson & Johnson by 7.0% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 73,350 shares of the company’s stock worth $12,164,000 after buying an additional 4,816 shares in the last quarter. Finally, Klingman & Associates LLC raised its stake in shares of Johnson & Johnson by 13.4% in the first quarter. Klingman & Associates LLC now owns 16,984 shares of the company’s stock valued at $2,817,000 after acquiring an additional 2,005 shares during the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Down 0.3%

Shares of Johnson & Johnson stock opened at $186.50 on Monday. The business has a fifty day simple moving average of $184.25 and a 200 day simple moving average of $168.80. The stock has a market cap of $449.34 billion, a PE ratio of 18.00, a price-to-earnings-growth ratio of 2.19 and a beta of 0.38. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $194.48.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. The company had revenue of $24.02 billion during the quarter. Johnson & Johnson had a return on equity of 32.73% and a net margin of 27.26%. Research analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $5.20 annualized dividend and a dividend yield of 2.8%. Johnson & Johnson’s payout ratio is 50.19%.

Insider Activity at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the firm’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the sale, the executive vice president owned 178,013 shares of the company’s stock, valued at approximately $31,652,491.53. This trade represents a 24.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.16% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $209.00 price target on shares of Johnson & Johnson in a report on Friday, October 10th. Raymond James Financial increased their price objective on shares of Johnson & Johnson from $174.00 to $209.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. Wall Street Zen upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Daiwa America raised shares of Johnson & Johnson from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Finally, Citigroup upped their price objective on Johnson & Johnson from $213.00 to $215.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Three analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average target price of $199.05.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.