Levin Capital Strategies L.P. Has $30.99 Million Position in Johnson & Johnson (NYSE:JNJ)

Levin Capital Strategies L.P. reduced its position in Johnson & Johnson (NYSE:JNJ) by 0.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 212,042 shares of the company’s stock after selling 1,041 shares during the period. Johnson & Johnson accounts for approximately 3.2% of Levin Capital Strategies L.P.’s portfolio, making the stock its 4th largest holding. Levin Capital Strategies L.P.’s holdings in Johnson & Johnson were worth $30,992,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in Johnson & Johnson in the 2nd quarter worth approximately $27,000. Christopher J. Hasenberg Inc bought a new position in Johnson & Johnson in the 1st quarter worth approximately $31,000. Vermillion & White Wealth Management Group LLC bought a new position in Johnson & Johnson in the 4th quarter worth approximately $44,000. MFA Wealth Advisors LLC bought a new position in Johnson & Johnson in the 2nd quarter worth approximately $43,000. Finally, Grayhawk Investment Strategies Inc. boosted its holdings in Johnson & Johnson by 528.6% in the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after buying an additional 259 shares during the period. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $164.82 on Thursday. The firm’s fifty day moving average price is $158.79 and its 200-day moving average price is $153.93. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. The stock has a market cap of $396.67 billion, a P/E ratio of 10.28, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $168.85.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.33 billion. During the same quarter last year, the company posted $2.80 EPS. The business’s quarterly revenue was up 4.3% on a year-over-year basis. On average, equities research analysts expect that Johnson & Johnson will post 10.02 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Insider Activity at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction on Friday, August 30th. The shares were 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 of the company’s stock, valued at approximately $3,131,683.38. 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 insiders.

Analysts Set New Price Targets

Several research analysts recently commented on JNJ shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a report on Tuesday, July 30th. Daiwa America downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Morgan Stanley increased their target price on shares of Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. TD Cowen lowered their target price on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Finally, The Goldman Sachs Group lowered their target price on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $173.21.

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.