Doheny Asset Management CA Has $2.30 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

Doheny Asset Management CA lifted its position in shares of Johnson & Johnson (NYSE:JNJ) by 65.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,327 shares of the company’s stock after purchasing an additional 6,437 shares during the quarter. Johnson & Johnson makes up about 1.8% of Doheny Asset Management CA’s investment portfolio, making the stock its 22nd largest position. Doheny Asset Management CA’s holdings in Johnson & Johnson were worth $2,296,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new stake in Johnson & Johnson in the fourth quarter valued at about $4,071,642,000. Wellington Management Group LLP grew its stake in shares of Johnson & Johnson by 16.4% in the 4th quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after purchasing an additional 3,391,657 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Johnson & Johnson by 16.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after buying an additional 3,139,499 shares in the last quarter. Ninety One UK Ltd lifted its position in shares of Johnson & Johnson by 59.0% during the 2nd quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock worth $980,579,000 after buying an additional 2,489,925 shares during the period. Finally, Swedbank AB acquired a new stake in Johnson & Johnson in the 1st quarter valued at $331,178,000. 69.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on JNJ shares. Daiwa Capital Markets cut Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. StockNews.com downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th. Daiwa America cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. TD Cowen cut their target price on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Finally, TD Securities decreased their price target on Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus price target of $173.21.

Insider Activity

In related news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson 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 directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.16% of the stock is currently owned by company insiders.

Johnson & Johnson Trading Down 1.5 %

Shares of JNJ opened at $164.82 on Thursday. The stock’s fifty day simple moving average is $158.79 and its 200-day simple moving average is $153.93. The firm has a market capitalization of $396.67 billion, a PE ratio of 10.28, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $22.33 billion. During the same period in the prior year, the company posted $2.80 EPS. The company’s revenue was up 4.3% compared to the same quarter last year. As a group, research analysts predict that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders 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 yield of 3.01%. The ex-dividend date was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

About Johnson & Johnson

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.