Intech Investment Management LLC Decreases Stock Position in Johnson & Johnson (NYSE:JNJ)

Intech Investment Management LLC trimmed its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 30.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 106,726 shares of the company's stock after selling 45,821 shares during the quarter. Intech Investment Management LLC's holdings in Johnson & Johnson were worth $17,296,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Johnson & Johnson in the first quarter valued at about $765,000. Canada Pension Plan Investment Board raised its position in shares of Johnson & Johnson by 25.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 3,487,163 shares of the company's stock valued at $551,634,000 after buying an additional 703,158 shares during the period. Stonebridge Capital Advisors LLC lifted its holdings in Johnson & Johnson by 10.0% in the first quarter. Stonebridge Capital Advisors LLC now owns 105,170 shares of the company's stock valued at $16,637,000 after acquiring an additional 9,556 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. increased its stake in Johnson & Johnson by 33.3% during the first quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 2,000 shares of the company's stock worth $316,000 after acquiring an additional 500 shares during the last quarter. Finally, Truvestments Capital LLC raised its position in Johnson & Johnson by 8.4% in the first quarter. Truvestments Capital LLC now owns 21,805 shares of the company's stock valued at $3,449,000 after purchasing an additional 1,690 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on JNJ shares. StockNews.com raised Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 14th. Morgan Stanley upped their price objective on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 16th. Citigroup lifted their target price on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Wells Fargo & Company raised their price target on Johnson & Johnson from $163.00 to $166.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 16th. Finally, Guggenheim increased their target price on Johnson & Johnson from $156.00 to $162.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 6th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $175.94.

Johnson & Johnson Price Performance

Shares of JNJ opened at $153.10 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. The stock has a market cap of $368.59 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 2.72 and a beta of 0.53. The firm has a fifty day moving average price of $160.59 and a 200 day moving average price of $156.17.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping 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 return on equity of 35.45% and a net margin of 19.14%. The firm's revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.66 earnings per share. As a group, sell-side analysts anticipate that Johnson & Johnson will post 9.93 EPS for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be issued a $1.24 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.24%. Johnson & Johnson's payout ratio is 71.78%.

Insider Buying and Selling

In related news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction on Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the transaction, the vice president now directly owns 18,973 shares in the company, valued at $3,131,683.38. This trade represents a 22.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.16% of the company's stock.

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.

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