Kornitzer Capital Management Inc. KS Sells 1,064 Shares of Johnson & Johnson (NYSE:JNJ)

Kornitzer Capital Management Inc. KS lessened its holdings in Johnson & Johnson (NYSE:JNJ) by 0.3% during the third quarter, Holdings Channel reports. The fund owned 343,854 shares of the company’s stock after selling 1,064 shares during the period. Johnson & Johnson makes up 1.0% of Kornitzer Capital Management Inc. KS’s holdings, making the stock its 19th largest holding. Kornitzer Capital Management Inc. KS’s holdings in Johnson & Johnson were worth $55,725,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in JNJ. International Assets Investment Management LLC raised its stake in Johnson & Johnson by 20,130.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,454,473 shares of the company’s stock valued at $559,832,000 after acquiring an additional 3,437,397 shares during the period. Marshall Wace LLP increased its position in Johnson & Johnson by 506.9% during the 2nd quarter. Marshall Wace LLP now owns 3,884,962 shares of the company’s stock worth $567,826,000 after buying an additional 3,244,862 shares during the period. Price T Rowe Associates Inc. MD increased its position in Johnson & Johnson by 16.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after buying an additional 3,139,499 shares during the period. Ninety One UK Ltd increased its position in Johnson & Johnson by 59.0% during the 2nd quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock worth $980,579,000 after buying an additional 2,489,925 shares during the period. Finally, Swedbank AB bought a new position in Johnson & Johnson during the 1st quarter worth $331,178,000. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

JNJ opened at $156.71 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. The stock has a market capitalization of $377.30 billion, a P/E ratio of 22.68, a P/E/G ratio of 2.81 and a beta of 0.53. The company’s 50-day simple moving average is $162.96 and its two-hundred day simple moving average is $155.76. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The company had revenue of $22.47 billion for the quarter, compared to analysts’ expectations of $22.17 billion. During the same quarter last year, the business earned $2.66 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, analysts predict that Johnson & Johnson will post 9.94 EPS for the current year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 3.17%. Johnson & Johnson’s dividend payout ratio is presently 71.78%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday, October 16th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Royal Bank of Canada raised their price objective on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Sanford C. Bernstein increased their target price on Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Finally, TD Securities dropped their target price on Johnson & Johnson from $195.00 to $185.00 in a research report 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 MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average price target of $175.00.

Insider Buying and Selling

In related news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the sale, the vice president now directly owns 18,973 shares in the company, valued at $3,131,683.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.16% of the stock is owned by corporate insiders.

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.