Highland Capital Management LLC Sells 2,550 Shares of Johnson & Johnson (NYSE:JNJ)

Highland Capital Management LLC reduced its stake in shares of Johnson & Johnson (NYSE:JNJ) by 2.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,982 shares of the company’s stock after selling 2,550 shares during the period. Johnson & Johnson accounts for approximately 0.8% of Highland Capital Management LLC’s portfolio, making the stock its 28th biggest holding. Highland Capital Management LLC’s holdings in Johnson & Johnson were worth $13,610,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Innealta Capital LLC acquired a new position in Johnson & Johnson in the 2nd quarter valued at $27,000. Mowery & Schoenfeld Wealth Management LLC grew its position in shares of Johnson & Johnson by 58.7% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after purchasing an additional 91 shares during the last quarter. MFA Wealth Advisors LLC bought a new position in shares of Johnson & Johnson in the second quarter worth about $43,000. Fairfield Financial Advisors LTD acquired a new position in shares of Johnson & Johnson during the 2nd quarter worth about $46,000. Finally, Fairway Wealth LLC boosted its stake in Johnson & Johnson by 217.1% during the 2nd quarter. Fairway Wealth LLC now owns 333 shares of the company’s stock valued at $49,000 after purchasing an additional 228 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.

Insider Activity 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 transaction, the vice president now directly owns 18,973 shares in the company, valued at approximately $3,131,683.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.16% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on JNJ shares. Wells Fargo & Company upped their price target on Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. TD Securities reduced their price target on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Citigroup boosted their price objective on shares of Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. TD Cowen reduced their target price 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. Finally, Sanford C. Bernstein boosted their price objective on Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Johnson & Johnson presently has an average rating of “Moderate Buy” and an average target price of $175.93.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ opened at $160.88 on Friday. The business has a fifty day moving average of $163.41 and a 200-day moving average of $155.07. 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 twelve month low of $143.13 and a twelve month high of $168.85. The firm has a market cap of $387.28 billion, a PE ratio of 23.28, a price-to-earnings-growth ratio of 2.90 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.46%. The firm had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. During the same quarter last year, the company posted $2.66 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, equities research analysts predict that Johnson & Johnson will post 9.94 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 71.78%.

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.