Johnson & Johnson (JNJ) Shares Sold by Summit Securities Group LLC

Summit Securities Group LLC cut its stake in Johnson & Johnson (NYSE:JNJ) by 70.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,300 shares of the company’s stock after selling 5,500 shares during the period. Summit Securities Group LLC’s holdings in Johnson & Johnson were worth $279,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Narwhal Capital Management lifted its position in shares of Johnson & Johnson by 2.5% during the second quarter. Narwhal Capital Management now owns 40,917 shares of the company’s stock valued at $4,965,000 after buying an additional 1,010 shares during the last quarter. TT International lifted its position in shares of Johnson & Johnson by 254.1% during the first quarter. TT International now owns 136,518 shares of the company’s stock valued at $15,930,000 after buying an additional 97,969 shares during the last quarter. Eagle Global Advisors LLC lifted its position in shares of Johnson & Johnson by 1.6% during the first quarter. Eagle Global Advisors LLC now owns 77,460 shares of the company’s stock valued at $9,927,000 after buying an additional 1,221 shares during the last quarter. Chilton Capital Management LLC lifted its position in shares of Johnson & Johnson by 23.6% during the first quarter. Chilton Capital Management LLC now owns 95,055 shares of the company’s stock valued at $12,181,000 after buying an additional 18,122 shares during the last quarter. Finally, LPL Financial LLC lifted its position in shares of Johnson & Johnson by 9.7% during the first quarter. LPL Financial LLC now owns 957,508 shares of the company’s stock valued at $122,705,000 after buying an additional 84,855 shares during the last quarter. Institutional investors own 66.70% of the company’s stock.

JNJ has been the subject of several research analyst reports. Credit Suisse Group increased their price objective on shares of Johnson & Johnson from $149.00 to $152.00 and gave the company an “outperform” rating in a research report on Wednesday, October 17th. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $160.00 price objective on shares of Johnson & Johnson in a research report on Friday, September 14th. Goldman Sachs Group raised shares of Johnson & Johnson from a “sell” rating to a “neutral” rating in a research report on Thursday, July 12th. Citigroup increased their price objective on shares of Johnson & Johnson from $137.00 to $148.00 and gave the company a “neutral” rating in a research report on Monday, October 22nd. Finally, Jefferies Financial Group set a $145.00 price target on shares of Johnson & Johnson and gave the stock a “buy” rating in a report on Sunday, July 15th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $142.54.

In other news, COO Michael E. Sneed sold 29,000 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $134.80, for a total transaction of $3,909,200.00. Following the sale, the chief operating officer now owns 59,124 shares of the company’s stock, valued at approximately $7,969,915.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Ronald A. Kapusta sold 7,899 shares of the firm’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $137.18, for a total transaction of $1,083,584.82. Following the sale, the chief accounting officer now directly owns 25,725 shares in the company, valued at approximately $3,528,955.50. The disclosure for this sale can be found here. 0.22% of the stock is owned by company insiders.

Shares of NYSE:JNJ opened at $140.82 on Friday. Johnson & Johnson has a twelve month low of $118.62 and a twelve month high of $148.32. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.33 and a current ratio of 1.65. The company has a market capitalization of $377.62 billion, a P/E ratio of 19.29, a price-to-earnings-growth ratio of 2.20 and a beta of 0.70.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, October 16th. The company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.02. The business had revenue of $20.35 billion for the quarter, compared to analysts’ expectations of $20.05 billion. Johnson & Johnson had a net margin of 1.89% and a return on equity of 34.97%. The business’s revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the company earned $1.90 EPS. On average, analysts forecast that Johnson & Johnson will post 8.16 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 11th. Stockholders of record on Tuesday, November 27th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Monday, November 26th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.56%. Johnson & Johnson’s payout ratio is 49.32%.

Johnson & Johnson Profile

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. Its Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, RoC, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.

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

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