Kornitzer Capital Management Inc. KS Has $53.38 Million Stock Holdings in Johnson & Johnson $JNJ

Kornitzer Capital Management Inc. KS lowered its position in shares of Johnson & Johnson (NYSE:JNJ) by 1.1% in the second quarter, Holdings Channel reports. The firm owned 349,458 shares of the company’s stock after selling 3,730 shares during the period. Johnson & Johnson accounts for 1.1% of Kornitzer Capital Management Inc. KS’s investment portfolio, making the stock its 19th biggest holding. Kornitzer Capital Management Inc. KS’s holdings in Johnson & Johnson were worth $53,380,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of JNJ. Vanguard Group Inc. increased its position in shares of Johnson & Johnson by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 233,962,679 shares of the company’s stock valued at $38,800,371,000 after buying an additional 1,170,120 shares in the last quarter. Northern Trust Corp grew its stake in Johnson & Johnson by 0.4% in the first quarter. Northern Trust Corp now owns 30,943,820 shares of the company’s stock valued at $5,131,723,000 after acquiring an additional 130,645 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of 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 worth $3,844,580,000 after acquiring an additional 4,842,582 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Johnson & Johnson by 3.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,899,263 shares of the company’s stock worth $3,133,602,000 after purchasing an additional 712,181 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Johnson & Johnson by 2.5% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 18,282,410 shares of the company’s stock valued at $3,031,955,000 after purchasing an additional 448,666 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president directly owned 178,013 shares of the company’s stock, valued at $31,652,491.53. This trade represents a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.16% of the stock is owned by corporate insiders.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $190.38 on Friday. The stock has a market capitalization of $458.69 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 2.24 and a beta of 0.40. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $194.48. The firm has a fifty day simple moving average of $182.26 and a 200 day simple moving average of $166.25. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50.

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

Johnson & Johnson Announces Dividend

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

Analyst Ratings Changes

JNJ has been the subject of a number of research reports. Citigroup increased their target price on Johnson & Johnson from $213.00 to $215.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Raymond James Financial upped their price target on shares of Johnson & Johnson from $174.00 to $209.00 and gave the company an “outperform” rating in a report on Wednesday, October 15th. Barclays raised their price objective on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an “equal weight” rating in a report on Thursday, July 17th. JPMorgan Chase & Co. upped their target price on shares of Johnson & Johnson from $185.00 to $200.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 16th. Finally, Wall Street Zen upgraded Johnson & Johnson from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.05.

About Johnson & Johnson

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.