Johnson & Johnson $JNJ Stock Position Decreased by Applied Finance Capital Management LLC

Applied Finance Capital Management LLC cut its position in shares of Johnson & Johnson (NYSE:JNJ) by 6.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,106 shares of the company’s stock after selling 2,079 shares during the period. Applied Finance Capital Management LLC’s holdings in Johnson & Johnson were worth $4,599,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GFG Capital LLC purchased a new stake in shares of Johnson & Johnson during the 2nd quarter worth about $35,000. Stone House Investment Management LLC acquired a new position in shares of Johnson & Johnson during the 1st quarter valued at about $47,000. 1248 Management LLC acquired a new position in shares of Johnson & Johnson during the 1st quarter valued at about $48,000. von Borstel & Associates Inc. acquired a new position in shares of Johnson & Johnson during the 1st quarter valued at about $49,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Johnson & Johnson during the 1st quarter valued at about $52,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on JNJ shares. Guggenheim raised Johnson & Johnson from a “neutral” rating to a “buy” rating and increased their price objective for the company from $167.00 to $206.00 in a report on Tuesday, September 23rd. Bank of America increased their price objective on Johnson & Johnson from $198.00 to $204.00 and gave the company a “neutral” rating in a report on Wednesday. HSBC increased their price objective on Johnson & Johnson from $188.00 to $210.00 in a report on Tuesday, September 30th. Wells Fargo & Company set a $212.00 price objective on Johnson & Johnson and gave the company an “overweight” rating in a report on Friday, October 3rd. Finally, The Goldman Sachs Group raised their target price on Johnson & Johnson from $186.00 to $212.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $199.59.

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $177.81, for a total value of $10,041,108.51. Following the completion of the transaction, the executive vice president owned 178,013 shares in the company, valued at approximately $31,652,491.53. The trade was a 24.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $193.27 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. The company has a market capitalization of $465.45 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 2.27 and a beta of 0.40. Johnson & Johnson has a one year low of $140.68 and a one year high of $194.40. The business has a 50 day simple moving average of $180.49 and a 200 day simple moving average of $164.86.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. The business had revenue of $24.02 billion during the quarter. Johnson & Johnson had a return on equity of 33.08% and a net margin of 27.26%. On average, sell-side analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be given a $1.30 dividend. The ex-dividend date is Tuesday, November 25th. This represents a $5.20 annualized dividend and a yield of 2.7%. Johnson & Johnson’s payout ratio is presently 50.19%.

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.