Concord Asset Management LLC VA Sells 996 Shares of Johnson & Johnson (NYSE:JNJ)

Concord Asset Management LLC VA trimmed its stake in Johnson & Johnson (NYSE:JNJ) by 4.8% during the first quarter, HoldingsChannel.com reports. The fund owned 19,720 shares of the company’s stock after selling 996 shares during the quarter. Concord Asset Management LLC VA’s holdings in Johnson & Johnson were worth $3,064,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of JNJ. Norges Bank bought a new stake in Johnson & Johnson in the fourth quarter valued at $4,390,037,000. GAMMA Investing LLC grew its position in Johnson & Johnson by 24,450.4% in the first quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company’s stock valued at $1,196,596,000 after acquiring an additional 7,185,977 shares during the period. Bank of New York Mellon Corp grew its position in Johnson & Johnson by 26.4% in the first quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company’s stock valued at $3,844,580,000 after acquiring an additional 4,842,582 shares during the period. Janus Henderson Group PLC boosted its stake in Johnson & Johnson by 134.5% in the fourth quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company’s stock worth $1,149,536,000 after purchasing an additional 4,559,147 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Johnson & Johnson by 12.3% in the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company’s stock worth $4,456,201,000 after purchasing an additional 3,363,235 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Trading Down 0.9%

NYSE:JNJ opened at $155.38 on Wednesday. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $169.99. The business’s 50-day moving average price is $153.80 and its two-hundred day moving average price is $154.64. The company has a current ratio of 1.26, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $373.86 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 2.14 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.18. Johnson & Johnson had a return on equity of 33.46% and a net margin of 24.42%. The firm had revenue of $21.89 billion for the quarter, compared to analyst estimates of $21.65 billion. On average, equities analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on JNJ shares. Leerink Partnrs lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Wall Street Zen raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 21st. Barclays reduced their price objective on Johnson & Johnson from $166.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 17th. Royal Bank Of Canada reissued an “outperform” rating and issued a $181.00 price objective on shares of Johnson & Johnson in a research note on Thursday, June 5th. Finally, Leerink Partners lowered Johnson & Johnson from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $169.00 to $153.00 in a research note on Tuesday, May 13th. Eleven analysts have rated the stock with a hold rating, seven have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $171.00.

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.