New York Life Investment Management LLC Reduces Stake in Johnson & Johnson (NYSE:JNJ)

New York Life Investment Management LLC trimmed its holdings in Johnson & Johnson (NYSE:JNJFree Report) by 6.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 348,956 shares of the company’s stock after selling 25,626 shares during the quarter. New York Life Investment Management LLC’s holdings in Johnson & Johnson were worth $54,350,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of JNJ. Rather & Kittrell Inc. lifted its stake in Johnson & Johnson by 2.0% in the 2nd quarter. Rather & Kittrell Inc. now owns 2,909 shares of the company’s stock worth $481,000 after purchasing an additional 58 shares in the last quarter. Capital Square LLC lifted its stake in Johnson & Johnson by 1.4% in the 2nd quarter. Capital Square LLC now owns 4,245 shares of the company’s stock worth $703,000 after purchasing an additional 58 shares in the last quarter. Wagner Wealth Management LLC lifted its stake in Johnson & Johnson by 1.3% in the 2nd quarter. Wagner Wealth Management LLC now owns 4,543 shares of the company’s stock worth $752,000 after purchasing an additional 59 shares in the last quarter. Chesapeake Wealth Management raised its position in shares of Johnson & Johnson by 0.7% during the 2nd quarter. Chesapeake Wealth Management now owns 9,196 shares of the company’s stock valued at $1,522,000 after buying an additional 60 shares in the last quarter. Finally, RPG Investment Advisory LLC raised its position in shares of Johnson & Johnson by 1.2% during the 2nd quarter. RPG Investment Advisory LLC now owns 4,876 shares of the company’s stock valued at $807,000 after buying an additional 60 shares in the last quarter. 68.40% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $156.76 on Monday. The firm’s fifty day moving average price is $158.20 and its 200 day moving average price is $158.73. Johnson & Johnson has a 1-year low of $144.95 and a 1-year high of $175.97. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.21 and a quick ratio of 0.96. The firm has a market cap of $377.37 billion, a price-to-earnings ratio of 11.35, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJGet Free Report) last posted its quarterly earnings data on Tuesday, January 23rd. The company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.01. The firm had revenue of $21.40 billion during the quarter, compared to analysts’ expectations of $21.02 billion. Johnson & Johnson had a return on equity of 36.75% and a net margin of 37.79%. The firm’s quarterly revenue was down 9.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.35 EPS. On average, sell-side analysts expect that Johnson & Johnson will post 10.65 EPS for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 5th. Shareholders of record on Tuesday, February 20th will be given a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Friday, February 16th. Johnson & Johnson’s payout ratio is 34.47%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on JNJ shares. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 6th. UBS Group raised shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and lifted their target price for the company from $167.00 to $180.00 in a research note on Friday, December 1st. Wells Fargo & Company lowered shares of Johnson & Johnson from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $170.00 to $163.00 in a research note on Wednesday, December 13th. Raymond James boosted their price objective on shares of Johnson & Johnson from $172.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 3rd. Finally, TheStreet cut shares of Johnson & Johnson from a “b” rating to a “c+” rating in a report on Friday, November 17th. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $176.14.

Check Out Our Latest Research Report on Johnson & Johnson

Johnson & Johnson Profile

(Free Report)

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment provides skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR. CI:LABO, NEUTROGENA, and OGX brands; baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; TYLENOL acetaminophen products; SUDAFED cold, flu, and allergy products; BENADRYL and ZYRTEC allergy products; MOTRIN IB ibuprofen products; NICORETTE smoking cessation products; and PEPCID acid reflux products.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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