Grant Street Asset Management Inc. Has $491,000 Position in Johnson & Johnson $JNJ

Grant Street Asset Management Inc. lowered its position in Johnson & Johnson (NYSE:JNJ) by 14.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,214 shares of the company’s stock after selling 557 shares during the period. Grant Street Asset Management Inc.’s holdings in Johnson & Johnson were worth $491,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JNJ. Nuveen LLC acquired a new position in Johnson & Johnson during the first quarter valued at approximately $1,369,188,000. Bank of New York Mellon Corp grew its holdings 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 during the last quarter. Pacer Advisors Inc. grew its holdings in Johnson & Johnson by 1,382.0% during the first quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company’s stock valued at $502,509,000 after purchasing an additional 2,825,626 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Johnson & Johnson by 159.6% in the second quarter. Assenagon Asset Management S.A. now owns 4,159,260 shares of the company’s stock valued at $635,327,000 after acquiring an additional 2,557,388 shares during the period. Finally, Kingstone Capital Partners Texas LLC acquired a new stake in shares of Johnson & Johnson in the second quarter worth $401,420,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on JNJ shares. Sanford C. Bernstein raised their price objective on shares of Johnson & Johnson from $172.00 to $193.00 and gave the stock a “market perform” rating in a research note on Monday, October 6th. Daiwa America upgraded shares of Johnson & Johnson from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Raymond James Financial raised their price objective on shares of Johnson & Johnson from $174.00 to $209.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 15th. UBS Group raised their price objective on shares of Johnson & Johnson from $190.00 to $214.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Finally, Argus set a $210.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, October 15th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average price target of $199.05.

Insider Buying and Selling

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the firm’s 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is currently owned by company insiders.

Johnson & Johnson Stock Down 0.3%

Shares of JNJ stock opened at $186.39 on Thursday. The stock has a market cap of $449.07 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 2.20 and a beta of 0.40. Johnson & Johnson has a one year low of $140.68 and a one year high of $194.48. The stock has a fifty day moving average price of $182.88 and a 200 day moving average price of $167.17. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.07 and a quick ratio of 0.80.

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

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 25th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, November 25th. Johnson & Johnson’s dividend payout ratio (DPR) is 50.19%.

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.