Cooke & Bieler LP Reduces Stock Position in Johnson & Johnson $JNJ

Cooke & Bieler LP trimmed its position in Johnson & Johnson (NYSE:JNJ) by 7.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 746,495 shares of the company’s stock after selling 59,251 shares during the period. Cooke & Bieler LP’s holdings in Johnson & Johnson were worth $114,027,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Mill Capital Management LLC raised its position in shares of Johnson & Johnson by 0.6% in the second quarter. Mill Capital Management LLC now owns 118,172 shares of the company’s stock valued at $18,051,000 after buying an additional 716 shares during the last quarter. Syverson Strege & Co boosted its position in Johnson & Johnson by 335.0% during the second quarter. Syverson Strege & Co now owns 6,525 shares of the company’s stock worth $997,000 after acquiring an additional 5,025 shares during the last quarter. Great Lakes Retirement Inc. boosted its holdings in shares of Johnson & Johnson by 10.1% during the second quarter. Great Lakes Retirement Inc. now owns 8,373 shares of the company’s stock worth $1,279,000 after purchasing an additional 765 shares during the last quarter. AlphaStar Capital Management LLC acquired a new stake in shares of Johnson & Johnson during the second quarter worth $4,150,000. Finally, Bridgewealth Advisory Group LLC acquired a new stake in shares of Johnson & Johnson during the second quarter worth $337,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on JNJ. Erste Group Bank raised Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Argus set a $210.00 target price on shares of Johnson & Johnson in a research report on Wednesday, October 15th. Raymond James Financial raised their target price on shares of Johnson & Johnson from $174.00 to $209.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 15th. Bank of America lifted their price target on shares of Johnson & Johnson from $198.00 to $204.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Finally, UBS Group lifted their price target on shares of Johnson & Johnson from $190.00 to $214.00 and gave the company a “buy” rating in a report on Tuesday, October 14th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus target price of $199.05.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president owned 178,013 shares in the company, valued at $31,652,491.53. The trade was a 24.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $189.02 on Friday. The firm has a market capitalization of $455.40 billion, a P/E ratio of 18.25, a P/E/G ratio of 2.19 and a beta of 0.40. 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 has a 1-year low of $140.68 and a 1-year high of $194.48. The business’s 50-day simple moving average is $183.28 and its 200-day simple moving average is $167.56.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. The firm 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%. Equities analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 25th will be issued a dividend of $1.30 per share. The ex-dividend date is Tuesday, November 25th. This represents a $5.20 annualized dividend and a dividend yield of 2.8%. Johnson & Johnson’s payout ratio is presently 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.