Los Angeles Capital Management LLC Sells 98,322 Shares of Johnson & Johnson (NYSE:JNJ)

Los Angeles Capital Management LLC cut its stake in Johnson & Johnson (NYSE:JNJ) by 10.0% in the third quarter, Holdings Channel.com reports. The firm owned 880,152 shares of the company’s stock after selling 98,322 shares during the period. Los Angeles Capital Management LLC’s holdings in Johnson & Johnson were worth $142,637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of JNJ. Innealta Capital LLC bought a new position in shares of Johnson & Johnson during the 2nd quarter worth about $27,000. Highline Wealth Partners LLC bought a new position in shares of Johnson & Johnson during the 3rd quarter worth about $31,000. Mowery & Schoenfeld Wealth Management LLC increased its position in shares of Johnson & Johnson by 58.7% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after purchasing an additional 91 shares in the last quarter. Morton Brown Family Wealth LLC increased its position in shares of Johnson & Johnson by 400.0% during the 3rd quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock worth $41,000 after purchasing an additional 200 shares in the last quarter. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of Johnson & Johnson during the 2nd quarter worth about $43,000. 69.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on JNJ. Guggenheim increased their target price on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Wells Fargo & Company increased their target price on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Sanford C. Bernstein raised their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Royal Bank of Canada raised their price objective on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $175.00.

Insider Activity

In other news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now directly owns 18,973 shares in the company, valued at $3,131,683.38. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by corporate insiders.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $155.05 on Tuesday. 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 twelve month low of $143.13 and a twelve month high of $168.85. The firm’s 50 day moving average price is $162.61 and its two-hundred day moving average price is $155.91. The firm has a market cap of $373.30 billion, a P/E ratio of 22.44, a PEG ratio of 2.76 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The firm had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. During the same quarter in the previous year, the firm posted $2.66 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. On average, analysts forecast that Johnson & Johnson will post 9.93 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be issued a $1.24 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.20%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 71.78%.

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.