MAI Capital Management Reduces Stock Position in Johnson & Johnson (NYSE:JNJ)

MAI Capital Management lessened its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 17.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 398,046 shares of the company's stock after selling 84,452 shares during the period. MAI Capital Management's holdings in Johnson & Johnson were worth $64,507,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC lifted its stake in Johnson & Johnson by 20,130.0% in the third quarter. International Assets Investment Management LLC now owns 3,454,473 shares of the company's stock valued at $559,832,000 after purchasing an additional 3,437,397 shares during the last quarter. Marshall Wace LLP lifted its stake in Johnson & Johnson by 506.9% in the second quarter. Marshall Wace LLP now owns 3,884,962 shares of the company's stock valued at $567,826,000 after purchasing an additional 3,244,862 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Johnson & Johnson by 16.8% in the first 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 during the last quarter. Ninety One UK Ltd lifted its stake in Johnson & Johnson by 59.0% in the second quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company's stock valued at $980,579,000 after purchasing an additional 2,489,925 shares during the last quarter. Finally, Swedbank AB purchased a new position 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.

Johnson & Johnson Price Performance

JNJ traded up $0.77 during trading on Monday, reaching $154.77. The stock had a trading volume of 7,510,581 shares, compared to its average volume of 7,018,732. The stock has a market cap of $372.63 billion, a PE ratio of 22.40, a PEG ratio of 2.74 and a beta of 0.53. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85. The business has a 50-day moving average of $161.11 and a 200-day moving average of $156.16.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, beating analysts' consensus estimates of $2.21 by $0.21. The business had revenue of $22.47 billion for 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%. The firm's revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.66 earnings per share. As a group, equities research analysts anticipate that Johnson & Johnson will post 9.93 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be given 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 3.20%. Johnson & Johnson's payout ratio is 71.78%.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the company's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction 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. This represents a 22.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.16% of the company's stock.

Analysts Set New Price Targets

JNJ has been the topic of several research analyst reports. Citigroup upped their price objective on Johnson & Johnson from $180.00 to $185.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Cantor Fitzgerald restated an "overweight" rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Daiwa Capital Markets downgraded Johnson & Johnson from an "outperform" rating to a "neutral" rating and dropped their target price for the stock from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Wells Fargo & Company increased their target price 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, Morgan Stanley increased their target price on Johnson & Johnson from $169.00 to $175.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Johnson & Johnson currently has an average rating of "Moderate Buy" and an average target price of $175.94.

Johnson & Johnson Company 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.