Perpetual Ltd Lowers Position in Johnson & Johnson (NYSE:JNJ)

by · The Markets Daily

Perpetual Ltd trimmed its stake in Johnson & Johnson (NYSE:JNJ – Free Report) by 11.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,541 shares of the company’s stock after selling 4,338 shares during the period. Perpetual Ltd’s holdings in Johnson & Johnson were worth $5,274,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of JNJ. BSN CAPITAL PARTNERS Ltd purchased a new stake in shares of Johnson & Johnson during the 3rd quarter valued at $14,585,000. Wealth Group Ltd purchased a new stake in Johnson & Johnson during the third quarter valued at about $213,000. TL Private Wealth lifted its stake in Johnson & Johnson by 41.1% during the third quarter. TL Private Wealth now owns 2,221 shares of the company’s stock worth $354,000 after purchasing an additional 647 shares during the last quarter. Somerset Trust Co boosted its holdings in shares of Johnson & Johnson by 1.3% in the 3rd quarter. Somerset Trust Co now owns 36,263 shares of the company’s stock worth $5,877,000 after purchasing an additional 478 shares in the last quarter. Finally, Bruce G. Allen Investments LLC increased its position in shares of Johnson & Johnson by 4.9% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 3,293 shares of the company’s stock valued at $534,000 after purchasing an additional 153 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the sale, the vice president now owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on JNJ shares. Sanford C. Bernstein upped their target price on Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Royal Bank of Canada increased their target price on shares of Johnson & Johnson from $175.00 to $178.00 and gave the company an “outperform” rating in a report on Tuesday. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. TD Securities decreased their price objective on Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Finally, Daiwa Capital Markets cut Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $173.43.

Get Our Latest Stock Analysis on Johnson & Johnson

Johnson & Johnson Stock Down 0.1 %

Shares of Johnson & Johnson stock opened at $160.52 on Friday. The company’s fifty day simple moving average is $162.65 and its two-hundred day simple moving average is $154.41. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The company has a market cap of $386.41 billion, a P/E ratio of 10.03, a PEG ratio of 2.65 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last released its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The company had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. During the same period in the prior year, the firm earned $2.80 earnings per share. Johnson & Johnson’s revenue was up 4.3% on a year-over-year basis. Research analysts anticipate that Johnson & Johnson will post 10 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.98%.

About Johnson & Johnson

(Free Report)

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.

See Also

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