Johnson & Johnson $JNJ Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp reduced its position in Johnson & Johnson (NYSE:JNJ) by 1.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 446,871 shares of the company’s stock after selling 5,435 shares during the quarter. King Luther Capital Management Corp’s holdings in Johnson & Johnson were worth $68,260,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nuveen LLC purchased a new stake in Johnson & Johnson in the first quarter valued at about $1,369,188,000. Pacer Advisors Inc. increased its holdings in shares of 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 acquiring an additional 2,825,626 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Johnson & Johnson by 159.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,159,260 shares of the company’s stock valued at $635,327,000 after purchasing an additional 2,557,388 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in Johnson & Johnson in the 2nd quarter worth approximately $401,420,000. Finally, Dimensional Fund Advisors LP grew its position in Johnson & Johnson by 14.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 16,903,105 shares of the company’s stock worth $2,803,042,000 after purchasing an additional 2,129,612 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Stifel Nicolaus lifted their price objective on shares of Johnson & Johnson from $165.00 to $190.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Erste Group Bank upgraded Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Sanford C. Bernstein increased their price objective on Johnson & Johnson from $172.00 to $193.00 and gave the company a “market perform” rating in a report on Monday, October 6th. JPMorgan Chase & Co. upped their target price on Johnson & Johnson from $185.00 to $200.00 and gave the company a “neutral” rating in a research report on Tuesday, September 16th. Finally, Citigroup lifted their price objective on shares of Johnson & Johnson from $213.00 to $215.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $199.05.

Insider Activity

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the business’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the completion of the sale, the executive vice president owned 178,013 shares of the company’s stock, valued at $31,652,491.53. The trade was a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is currently owned by company insiders.

Johnson & Johnson Stock Down 0.3%

JNJ opened at $186.50 on Friday. The company has a fifty day moving average of $184.25 and a two-hundred day moving average of $168.70. The stock has a market capitalization of $449.34 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 2.19 and a beta of 0.38. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $194.48. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.80 and a current ratio of 1.07.

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

Johnson & Johnson Dividend Announcement

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