Logan Capital Management Inc. Sells 28,482 Shares of Johnson & Johnson $JNJ

Logan Capital Management Inc. lessened its holdings in Johnson & Johnson (NYSE:JNJ) by 26.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 77,403 shares of the company’s stock after selling 28,482 shares during the period. Logan Capital Management Inc.’s holdings in Johnson & Johnson were worth $11,823,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Johnson & Johnson by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 233,962,679 shares of the company’s stock worth $38,800,371,000 after acquiring an additional 1,170,120 shares during the last quarter. Northern Trust Corp raised its holdings in Johnson & Johnson by 0.4% in the 1st quarter. Northern Trust Corp now owns 30,943,820 shares of the company’s stock worth $5,131,723,000 after purchasing an additional 130,645 shares during the period. Bank of New York Mellon Corp lifted its position in Johnson & Johnson by 26.4% during 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 purchasing an additional 4,842,582 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in 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 valued at $3,133,602,000 after purchasing an additional 712,181 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in Johnson & Johnson by 2.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 18,282,410 shares of the company’s stock worth $3,031,955,000 after buying an additional 448,666 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on JNJ shares. Daiwa America raised Johnson & Johnson from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Citigroup upped their price target on shares of Johnson & Johnson from $213.00 to $215.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Guggenheim upgraded shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and raised their price objective for the company from $167.00 to $206.00 in a research report on Tuesday, September 23rd. Raymond James Financial lifted their target price on shares of Johnson & Johnson from $174.00 to $209.00 and gave the company an “outperform” rating in a research note on Wednesday, October 15th. Finally, Cowen reiterated a “buy” rating on shares of Johnson & Johnson in a research note on Tuesday, October 14th. Three equities research 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 company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $199.05.

Johnson & Johnson Stock Performance

JNJ opened at $190.31 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a market capitalization of $458.50 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 2.24 and a beta of 0.40. The company has a fifty day moving average of $182.54 and a 200 day moving average of $166.65. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $194.48.

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

Johnson & Johnson Announces Dividend

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

Insider Activity

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the company’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 transaction of $10,041,108.51. Following the sale, the executive vice president directly owned 178,013 shares of the company’s stock, valued at $31,652,491.53. This represents a 24.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by company insiders.

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.