Reynders McVeigh Capital Management LLC Decreases Stake in Johnson & Johnson (NYSE:JNJ)

Reynders McVeigh Capital Management LLC lessened its stake in Johnson & Johnson (NYSE:JNJ) by 2.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 87,974 shares of the company’s stock after selling 2,587 shares during the quarter. Reynders McVeigh Capital Management LLC’s holdings in Johnson & Johnson were worth $14,257,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in JNJ. McElhenny Sheffield Capital Management LLC raised its position in shares of Johnson & Johnson by 164.4% during the 2nd quarter. McElhenny Sheffield Capital Management LLC now owns 5,518 shares of the company’s stock worth $806,000 after acquiring an additional 3,431 shares in the last quarter. MADDEN SECURITIES Corp acquired a new position in Johnson & Johnson during the second quarter worth approximately $981,000. Guinness Asset Management LTD increased its position in Johnson & Johnson by 30.8% during the second quarter. Guinness Asset Management LTD now owns 1,266,158 shares of the company’s stock worth $185,043,000 after buying an additional 298,063 shares during the period. Butensky & Cohen Financial Security Inc. increased its position in Johnson & Johnson by 2.3% during the second quarter. Butensky & Cohen Financial Security Inc. now owns 24,769 shares of the company’s stock worth $3,620,000 after buying an additional 549 shares during the period. Finally, Guinness Atkinson Asset Management Inc increased its position in Johnson & Johnson by 26.3% during the second quarter. Guinness Atkinson Asset Management Inc now owns 6,150 shares of the company’s stock worth $899,000 after buying an additional 1,282 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analyst Ratings Changes

JNJ has been the topic of a number of recent research reports. Guggenheim boosted their target price on Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Wells Fargo & Company boosted their target price on Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Morgan Stanley lifted their price target on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Citigroup lifted their price target on Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $175.67.

Johnson & Johnson Stock Down 1.6 %

JNJ opened at $152.31 on Wednesday. The business’s fifty day moving average is $158.77 and its two-hundred day moving average is $156.45. 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 company has a market cap of $366.70 billion, a price-to-earnings ratio of 22.04, a PEG ratio of 2.75 and a beta of 0.51. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The business had revenue of $22.47 billion for the quarter, compared to the consensus estimate of $22.17 billion. During the same period in the prior year, the business earned $2.66 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. Analysts anticipate that Johnson & Johnson will post 9.93 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 annualized dividend and a yield of 3.26%. Johnson & Johnson’s dividend payout ratio is presently 71.78%.

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.