Van Cleef Asset Management Inc Trims Stock Position in Johnson & Johnson (NYSE:JNJ)

Van Cleef Asset Management Inc reduced its stake in shares of Johnson & Johnson (NYSE:JNJ) by 0.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,752 shares of the company’s stock after selling 561 shares during the quarter. Johnson & Johnson comprises approximately 1.4% of Van Cleef Asset Management Inc’s portfolio, making the stock its 18th largest holding. Van Cleef Asset Management Inc’s holdings in Johnson & Johnson were worth $11,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of JNJ. Norges Bank acquired a new stake in shares of Johnson & Johnson in the 4th quarter valued at about $4,071,642,000. Wellington Management Group LLP lifted its stake in Johnson & Johnson by 16.4% in the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after buying an additional 3,391,657 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Johnson & Johnson by 16.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock valued at $3,453,978,000 after acquiring an additional 3,139,499 shares during the period. Ninety One UK Ltd increased its holdings in shares of Johnson & Johnson by 59.0% in the 2nd quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock valued at $980,579,000 after acquiring an additional 2,489,925 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in Johnson & Johnson by 0.8% during the 4th quarter. Clearbridge Investments LLC now owns 6,285,184 shares of the company’s stock worth $985,140,000 after purchasing an additional 50,822 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

JNJ stock opened at $164.64 on Friday. The company has a market cap of $396.24 billion, a price-to-earnings ratio of 10.26, a PEG ratio of 2.71 and a beta of 0.53. 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 firm has a 50 day moving average of $159.17 and a 200-day moving average of $154.00. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. The company had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. Johnson & Johnson’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.80 earnings per share. As a group, equities analysts expect that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were issued a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

Analyst Ratings Changes

JNJ has been the subject of a number of research reports. TD Securities reduced their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Monday. Daiwa America lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. StockNews.com downgraded Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th. Finally, TD Cowen dropped their price objective on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, 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 the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.16% of the company’s stock.

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.