Harbour Investment Management LLC Decreases Holdings in Johnson & Johnson (JNJ)

Harbour Investment Management LLC cut its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 2.2% in the second quarter, HoldingsChannel.com reports. The fund owned 20,778 shares of the company’s stock after selling 475 shares during the quarter. Johnson & Johnson accounts for 2.0% of Harbour Investment Management LLC’s portfolio, making the stock its 16th biggest holding. Harbour Investment Management LLC’s holdings in Johnson & Johnson were worth $2,521,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. BlackRock Inc. lifted its holdings in shares of Johnson & Johnson by 4.7% during the 1st quarter. BlackRock Inc. now owns 175,389,024 shares of the company’s stock valued at $22,476,102,000 after buying an additional 7,853,141 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Johnson & Johnson by 1.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 30,303,272 shares of the company’s stock valued at $3,676,999,000 after buying an additional 541,338 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Johnson & Johnson by 3.8% during the 2nd quarter. Fisher Asset Management LLC now owns 13,118,604 shares of the company’s stock valued at $1,591,811,000 after buying an additional 478,982 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Johnson & Johnson by 9.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,552,034 shares of the company’s stock valued at $967,793,000 after buying an additional 654,350 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Johnson & Johnson by 11.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 7,080,648 shares of the company’s stock valued at $907,384,000 after buying an additional 702,986 shares during the last quarter. Hedge funds and other institutional investors own 66.60% of the company’s stock.

JNJ opened at $145.34 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 0.46, a current ratio of 1.72 and a quick ratio of 1.40. The company has a market capitalization of $382.50 billion, a P/E ratio of 19.91, a P/E/G ratio of 2.23 and a beta of 0.58.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, October 16th. The company reported $2.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.03 by $0.02. Johnson & Johnson had a return on equity of 34.62% and a net margin of 1.89%. The firm had revenue of $20.35 billion during the quarter, compared to analyst estimates of $20.05 billion. During the same period in the previous year, the company earned $1.90 EPS. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. Equities analysts expect that Johnson & Johnson will post 8.16 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 11th. Investors of record on Tuesday, November 27th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Monday, November 26th. This represents a $3.60 annualized dividend and a yield of 2.48%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 49.32%.

Several equities research analysts have recently issued reports on JNJ shares. Credit Suisse Group lifted their price target on Johnson & Johnson from $149.00 to $152.00 and gave the company an “outperform” rating in a report on Wednesday, October 17th. Citigroup lifted their price target on Johnson & Johnson from $137.00 to $148.00 and gave the company a “neutral” rating in a report on Monday, October 22nd. Wells Fargo & Co reiterated an “outperform” rating and set a $160.00 price target on shares of Johnson & Johnson in a report on Friday, September 14th. Raymond James lifted their price target on Johnson & Johnson from $144.00 to $149.00 and gave the company an “outperform” rating in a report on Wednesday, October 17th. Finally, ValuEngine upgraded Johnson & Johnson from a “sell” rating to a “hold” rating in a report on Saturday, July 28th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $142.54.

In other Johnson & Johnson news, CAO Ronald A. Kapusta sold 7,899 shares of Johnson & Johnson stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $137.18, for a total value of $1,083,584.82. Following the transaction, the chief accounting officer now directly owns 25,725 shares of the company’s stock, valued at approximately $3,528,955.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Joaquin Duato sold 40,000 shares of Johnson & Johnson stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $144.36, for a total value of $5,774,400.00. Following the completion of the transaction, the insider now directly owns 112,848 shares in the company, valued at $16,290,737.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 85,340 shares of company stock valued at $11,992,396. Corporate insiders own 0.22% of the company’s stock.

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About Johnson & Johnson

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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