Johnson & Johnson (NYSE:JNJ) Shares Sold by Brooktree Capital Management

Brooktree Capital Management lowered its stake in shares of Johnson & Johnson (NYSE:JNJ) by 6.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,474 shares of the company’s stock after selling 1,797 shares during the quarter. Johnson & Johnson comprises approximately 3.4% of Brooktree Capital Management’s investment portfolio, making the stock its 10th largest holding. Brooktree Capital Management’s holdings in Johnson & Johnson were worth $4,128,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC grew its position in Johnson & Johnson by 20,130.0% during the 3rd quarter. International Assets Investment Management LLC now owns 3,454,473 shares of the company’s stock worth $559,832,000 after purchasing an additional 3,437,397 shares during the period. Marshall Wace LLP grew its position in shares of Johnson & Johnson by 506.9% during the 2nd quarter. Marshall Wace LLP now owns 3,884,962 shares of the company’s stock valued at $567,826,000 after acquiring an additional 3,244,862 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Johnson & Johnson by 16.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock valued at $3,453,978,000 after purchasing an additional 3,139,499 shares in the last quarter. Ninety One UK Ltd raised its holdings in Johnson & Johnson by 59.0% in the 2nd quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock worth $980,579,000 after purchasing an additional 2,489,925 shares during the period. Finally, Swedbank AB acquired a new stake in Johnson & Johnson in the first quarter valued at approximately $331,178,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insider Activity

In related news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now directly owns 18,973 shares in the company, valued at approximately $3,131,683.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Trading Up 0.4 %

Shares of JNJ stock opened at $153.28 on Thursday. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $168.85. The company’s 50-day moving average price is $161.82 and its 200-day moving average price is $155.99. The stock has a market cap of $369.04 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 2.71 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.21. The company had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. Johnson & Johnson’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.66 EPS. As a group, equities analysts predict that Johnson & Johnson will post 9.93 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 10th. Shareholders of record on Tuesday, November 26th will be given a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a yield of 3.24%. Johnson & Johnson’s dividend payout ratio is currently 71.78%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Royal Bank of Canada increased their target price on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. TD Securities dropped their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Wells Fargo & Company raised their price target on shares of Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Finally, TD Cowen lowered their price target on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.00.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.