Guinness Asset Management LTD Lowers Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Guinness Asset Management LTD decreased its position in shares of Johnson & Johnson (NYSE:JNJ) by 13.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 230,699 shares of the company’s stock after selling 36,280 shares during the period. Johnson & Johnson makes up approximately 3.8% of Guinness Asset Management LTD’s holdings, making the stock its 13th largest holding. Guinness Asset Management LTD’s holdings in Johnson & Johnson were worth $32,443,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sofos Investments Inc. grew its stake in shares of Johnson & Johnson by 172.0% during the first quarter. Sofos Investments Inc. now owns 1,148 shares of the company’s stock valued at $33,000 after buying an additional 726 shares during the last quarter. Altshuler Shaham Ltd bought a new position in shares of Johnson & Johnson during the first quarter valued at about $35,000. Lake Point Wealth Management grew its stake in shares of Johnson & Johnson by 144.4% during the first quarter. Lake Point Wealth Management now owns 286 shares of the company’s stock valued at $38,000 after buying an additional 169 shares during the last quarter. Lion Street Advisors LLC bought a new position in shares of Johnson & Johnson during the first quarter valued at about $45,000. Finally, SeaBridge Investment Advisors LLC grew its stake in shares of Johnson & Johnson by 160.0% during the second quarter. SeaBridge Investment Advisors LLC now owns 325 shares of the company’s stock valued at $46,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 68.44% of the company’s stock.

In other news, EVP Ashley Mcevoy sold 29,000 shares of Johnson & Johnson stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $147.47, for a total transaction of $4,276,630.00. Following the completion of the transaction, the executive vice president now directly owns 21,682 shares in the company, valued at $3,197,444.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is currently owned by company insiders.

Several analysts recently issued reports on JNJ shares. Bank of America reissued a “buy” rating on shares of Johnson & Johnson in a research note on Monday, July 20th. Credit Suisse Group reissued a “buy” rating and issued a $161.00 target price on shares of Johnson & Johnson in a research note on Tuesday, April 28th. Wells Fargo & Co raised Johnson & Johnson to a “hold” rating in a research note on Wednesday, April 22nd. Raymond James raised their target price on Johnson & Johnson from $157.00 to $158.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $168.00 target price on shares of Johnson & Johnson in a research note on Tuesday, April 28th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $163.38.

Johnson & Johnson stock opened at $145.76 on Friday. The stock’s 50 day simple moving average is $144.04 and its two-hundred day simple moving average is $144.14. Johnson & Johnson has a fifty-two week low of $109.16 and a fifty-two week high of $157.00. The stock has a market cap of $383.76 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 3.23 and a beta of 0.69. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.05 and a current ratio of 1.25.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Thursday, July 16th. The company reported $1.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.17. Johnson & Johnson had a net margin of 22.69% and a return on equity of 35.21%. The firm had revenue of $18.34 billion during the quarter, compared to analyst estimates of $17.73 billion. During the same period last year, the business earned $2.58 earnings per share. The business’s revenue was down 10.8% on a year-over-year basis. On average, analysts predict that Johnson & Johnson will post 7.85 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 25th will be issued a dividend of $1.01 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a $4.04 annualized dividend and a dividend yield of 2.77%. Johnson & Johnson’s payout ratio is 46.54%.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.

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

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