King Luther Capital Management Corp Cuts Stock Position in Johnson & Johnson (NYSE:JNJ)

King Luther Capital Management Corp reduced its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 1.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 531,574 shares of the company's stock after selling 7,570 shares during the quarter. King Luther Capital Management Corp's holdings in Johnson & Johnson were worth $86,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in JNJ. Innealta Capital LLC purchased a new position in Johnson & Johnson in the 2nd quarter worth approximately $27,000. Highline Wealth Partners LLC bought a new stake in shares of Johnson & Johnson in the 3rd quarter valued at approximately $31,000. Mowery & Schoenfeld Wealth Management LLC boosted its stake in Johnson & Johnson by 58.7% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company's stock worth $40,000 after buying an additional 91 shares during the period. Morton Brown Family Wealth LLC boosted its position in shares of Johnson & Johnson by 400.0% during the third quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company's stock valued at $41,000 after buying an additional 200 shares during the period. Finally, MFA Wealth Advisors LLC bought a new position in Johnson & Johnson in the 2nd quarter worth about $43,000. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $153.10 on Thursday. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85. The firm 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 company's 50 day simple moving average is $160.59 and its 200-day simple moving average is $156.17. 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 (NYSE:JNJ - Get Free Report) last released its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.21. The firm had revenue of $22.47 billion during the quarter, compared to analysts' expectations of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. Johnson & Johnson's revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.66 earnings per share. As a group, equities analysts predict that Johnson & Johnson will post 9.93 EPS for the current year.

Johnson & Johnson Announces Dividend

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

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the business's stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the transaction, the vice president now owns 18,973 shares in the company, valued at $3,131,683.38. The trade was a 22.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.16% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on JNJ shares. Morgan Stanley increased their price target on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 16th. Cantor Fitzgerald reissued an "overweight" rating and set a $215.00 target price on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Royal Bank of Canada increased their price objective on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. StockNews.com upgraded shares of Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 14th. Finally, Wells Fargo & Company lifted 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. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $175.94.

Johnson & Johnson Profile

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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