Mill Creek Capital Advisors LLC Sells 7,631 Shares of Johnson & Johnson (NYSE:JNJ)

Mill Creek Capital Advisors LLC decreased its position in shares of Johnson & Johnson (NYSE:JNJ) by 3.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 247,517 shares of the company’s stock after selling 7,631 shares during the quarter. Johnson & Johnson makes up approximately 1.0% of Mill Creek Capital Advisors LLC’s investment portfolio, making the stock its 18th biggest position. Mill Creek Capital Advisors LLC’s holdings in Johnson & Johnson were worth $40,113,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. acquired a new position in Johnson & Johnson in the first quarter valued at approximately $765,000. Empowered Funds LLC boosted its position in shares of Johnson & Johnson by 46.7% in the 1st quarter. Empowered Funds LLC now owns 101,237 shares of the company’s stock worth $16,015,000 after purchasing an additional 32,244 shares during the last quarter. Motco grew its stake in shares of Johnson & Johnson by 4.1% during the first quarter. Motco now owns 97,659 shares of the company’s stock worth $15,449,000 after purchasing an additional 3,846 shares during the period. Sentry Investment Management LLC lifted its stake in Johnson & Johnson by 9.8% in the first quarter. Sentry Investment Management LLC now owns 13,868 shares of the company’s stock valued at $2,194,000 after buying an additional 1,241 shares during the period. Finally, J.Safra Asset Management Corp boosted its holdings in Johnson & Johnson by 37.6% during the first quarter. J.Safra Asset Management Corp now owns 1,047 shares of the company’s stock worth $166,000 after buying an additional 286 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Price Performance

NYSE JNJ opened at $154.00 on Friday. The firm’s 50 day moving average is $161.35 and its 200-day moving average is $156.10. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $370.77 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 2.74 and a beta of 0.53. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85.

Johnson & Johnson (NYSE:JNJ) last posted 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. The firm had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company earned $2.66 earnings per share. Equities research analysts anticipate that Johnson & Johnson will post 9.93 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s payout ratio is currently 71.78%.

Wall Street Analyst Weigh In

JNJ has been the topic of a number of analyst reports. Morgan Stanley increased their price target on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Daiwa America cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Wells Fargo & Company upped their price objective on shares of Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Citigroup lifted their target price on Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Wolfe Research started coverage on Johnson & Johnson in a report on Friday. They issued an “outperform” rating and a $190.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus target price of $175.94.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the sale, the vice president now owns 18,973 shares of the company’s stock, valued at $3,131,683.38. This trade represents a 22.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson 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.