3Chopt Investment Partners LLC Reduces Position in Johnson & Johnson (NYSE:JNJ)

3Chopt Investment Partners LLC cut its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 0.5% during the second quarter, HoldingsChannel.com reports. The fund owned 15,553 shares of the company’s stock after selling 78 shares during the period. 3Chopt Investment Partners LLC’s holdings in Johnson & Johnson were worth $2,273,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Meridian Financial Partners LLC acquired a new stake in shares of Johnson & Johnson in the second quarter valued at approximately $1,626,000. Summit Financial Wealth Advisors LLC raised its holdings in shares of Johnson & Johnson by 26.3% during the 1st quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock worth $853,000 after acquiring an additional 1,122 shares during the period. Franklin Parlapiano Turner & Welch LLC boosted its position in shares of Johnson & Johnson by 0.7% during the 1st quarter. Franklin Parlapiano Turner & Welch LLC now owns 47,186 shares of the company’s stock valued at $7,464,000 after acquiring an additional 325 shares during the last quarter. Capital Asset Advisory Services LLC raised its stake in Johnson & Johnson by 8.8% during the first quarter. Capital Asset Advisory Services LLC now owns 26,539 shares of the company’s stock worth $4,044,000 after purchasing an additional 2,151 shares during the period. Finally, NTV Asset Management LLC boosted its holdings in Johnson & Johnson by 1.6% in the 1st quarter. NTV Asset Management LLC now owns 36,000 shares of the company’s stock valued at $5,695,000 after purchasing an additional 565 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insider Activity

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction that occurred 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 transaction, the vice president now owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Sanford C. Bernstein lifted their price target on shares of Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Monday. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a research note on Friday, September 20th. Finally, TD Cowen decreased their price target on 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 equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $173.21.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock opened at $162.02 on Tuesday. The business has a 50-day simple moving average of $162.30 and a 200-day simple moving average of $154.18. The company has a market cap of $389.93 billion, a PE ratio of 10.10, a P/E/G ratio of 2.69 and a beta of 0.53. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07.

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

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 30.92%.

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.