Johnson & Johnson (NYSE:JNJ) Position Trimmed by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lowered its position in shares of Johnson & Johnson (NYSE:JNJ) by 0.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 343,854 shares of the company’s stock after selling 1,064 shares during the period. Johnson & Johnson accounts for 1.0% of Kornitzer Capital Management Inc. KS’s portfolio, making the stock its 19th biggest holding. Kornitzer Capital Management Inc. KS’s holdings in Johnson & Johnson were worth $55,725,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of JNJ. China Universal Asset Management Co. Ltd. bought a new position in shares of Johnson & Johnson during the first quarter worth about $765,000. Financial Counselors Inc. lifted its holdings in Johnson & Johnson by 14.3% in the first quarter. Financial Counselors Inc. now owns 183,373 shares of the company’s stock worth $29,008,000 after purchasing an additional 22,943 shares during the period. Blume Capital Management Inc. lifted its holdings in Johnson & Johnson by 2.6% in the first quarter. Blume Capital Management Inc. now owns 59,265 shares of the company’s stock worth $9,375,000 after purchasing an additional 1,500 shares during the period. Pegasus Asset Management Inc. lifted its holdings in Johnson & Johnson by 2.6% in the first quarter. Pegasus Asset Management Inc. now owns 28,165 shares of the company’s stock worth $4,455,000 after purchasing an additional 725 shares during the period. Finally, Smart Money Group LLC lifted its holdings in Johnson & Johnson by 31.3% in the first quarter. Smart Money Group LLC now owns 5,074 shares of the company’s stock worth $734,000 after purchasing an additional 1,209 shares during the period. Institutional investors 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 business’s stock in a transaction dated 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 directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.16% of the stock is currently owned by company insiders.

Johnson & Johnson Stock Down 0.7 %

JNJ opened at $156.71 on Friday. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $377.30 billion, a price-to-earnings ratio of 22.68, a P/E/G ratio of 2.81 and a beta of 0.53. The business has a 50 day moving average of $162.96 and a 200-day moving average of $155.76.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The firm had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. During the same period last year, the business earned $2.66 earnings per share. Johnson & Johnson’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Johnson & Johnson will post 9.94 earnings per share for the current year.

Johnson & Johnson Announces Dividend

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 $1.24 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.17%. Johnson & Johnson’s dividend payout ratio is 71.78%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Sanford C. Bernstein upped their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Daiwa America downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group cut their price target on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Citigroup upped their price target on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Daiwa Capital Markets lowered shares of 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. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.00.

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.