Johnson & Johnson (NYSE:JNJ) Shares Sold by Van Cleef Asset Management Inc

Van Cleef Asset Management Inc lowered its position in shares of Johnson & Johnson (NYSE:JNJ) by 0.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 75,752 shares of the company’s stock after selling 561 shares during the quarter. Johnson & Johnson makes up approximately 1.4% of Van Cleef Asset Management Inc’s holdings, making the stock its 18th biggest holding. Van Cleef Asset Management Inc’s holdings in Johnson & Johnson were worth $11,072,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in Johnson & Johnson in the fourth quarter valued at $4,071,642,000. Wellington Management Group LLP increased its stake in shares of Johnson & Johnson by 16.4% during the 4th quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after acquiring an additional 3,391,657 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Johnson & Johnson by 16.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after acquiring an additional 3,139,499 shares during the period. Ninety One UK Ltd boosted its position in shares of Johnson & Johnson by 59.0% in the second quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock worth $980,579,000 after acquiring an additional 2,489,925 shares during the last quarter. Finally, Swedbank AB acquired a new position in Johnson & Johnson during the first quarter worth approximately $331,178,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock opened at $164.64 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85. The firm’s 50-day simple moving average is $159.17 and its 200-day simple moving average is $154.00. The firm has a market cap of $396.24 billion, a PE ratio of 10.26, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The business had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. During the same period in the previous year, the business earned $2.80 EPS. The business’s quarterly revenue was up 4.3% on a year-over-year basis. Equities analysts forecast 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. Shareholders of record on Tuesday, August 27th were issued a $1.24 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a yield of 3.01%. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Analyst Ratings Changes

Several analysts have recently issued reports on JNJ shares. TD Cowen lowered their price objective on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Morgan Stanley boosted their price target on Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Daiwa Capital Markets lowered Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Sanford C. Bernstein increased their target price on shares of Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Finally, TD Securities reduced their price target on shares of Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average target price of $173.21.

Insider Buying and Selling

In other news, VP Robert J. Decker sold 5,635 shares of the business’s 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 completion of the transaction, the vice president now owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company 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.