BayBridge Capital Group LLC Lowers Position in Johnson & Johnson (NYSE:JNJ)

BayBridge Capital Group LLC cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 71.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,107 shares of the company’s stock after selling 5,336 shares during the period. BayBridge Capital Group LLC’s holdings in Johnson & Johnson were worth $341,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in JNJ. Price T Rowe Associates Inc. MD increased its stake in Johnson & Johnson by 16.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after acquiring an additional 3,139,499 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Johnson & Johnson by 10.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock worth $2,744,979,000 after purchasing an additional 1,831,751 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Johnson & Johnson by 5.5% in the second quarter. Ameriprise Financial Inc. now owns 14,374,397 shares of the company’s stock valued at $2,100,427,000 after buying an additional 754,200 shares during the period. Dimensional Fund Advisors LP lifted its position in Johnson & Johnson by 16.2% during the second quarter. Dimensional Fund Advisors LP now owns 13,147,352 shares of the company’s stock valued at $1,921,565,000 after buying an additional 1,829,257 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Johnson & Johnson by 5.8% in the second quarter. American Century Companies Inc. now owns 8,014,213 shares of the company’s stock worth $1,171,357,000 after acquiring an additional 437,637 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Robert J. Decker sold 5,635 shares of the 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 in the company, valued at $3,131,683.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Price Performance

JNJ opened at $160.88 on Friday. 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 has a 1-year low of $143.13 and a 1-year high of $168.85. The company has a 50-day moving average of $163.41 and a 200-day moving average of $155.07. The company has a market capitalization of $387.28 billion, a P/E ratio of 23.28, a PEG ratio of 2.90 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.46% and a net margin of 19.14%. The company had revenue of $22.47 billion for the quarter, compared to the consensus estimate of $22.17 billion. During the same quarter last year, the business posted $2.66 EPS. Johnson & Johnson’s quarterly revenue was up 5.2% compared to the same quarter last year. Equities analysts expect that Johnson & Johnson will post 9.94 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be issued a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.08%. Johnson & Johnson’s dividend payout ratio (DPR) is 71.78%.

Analysts Set New Price Targets

JNJ has been the topic of several recent research reports. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday, October 16th. TD Cowen decreased their target price on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Morgan Stanley raised their target price on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Daiwa Capital Markets cut Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $160.00 to $150.00 in a report on Tuesday, July 23rd. Finally, StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $175.93.

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.