Levin Capital Strategies L.P. Cuts Stake in Johnson & Johnson (NYSE:JNJ)

Levin Capital Strategies L.P. lessened its position in Johnson & Johnson (NYSE:JNJ) by 0.5% during the second quarter, Holdings Channel.com reports. The fund owned 212,042 shares of the company’s stock after selling 1,041 shares during the period. Johnson & Johnson accounts for 3.2% of Levin Capital Strategies L.P.’s holdings, making the stock its 4th largest holding. Levin Capital Strategies L.P.’s holdings in Johnson & Johnson were worth $30,992,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Sachetta LLC grew its holdings in Johnson & Johnson by 5.6% in the 2nd quarter. Sachetta LLC now owns 6,797 shares of the company’s stock worth $1,097,000 after acquiring an additional 359 shares during the last quarter. Bright Futures Wealth Management LLC. grew its holdings in Johnson & Johnson by 2.9% in the 2nd quarter. Bright Futures Wealth Management LLC. now owns 3,389 shares of the company’s stock worth $495,000 after acquiring an additional 94 shares during the last quarter. Global X Japan Co. Ltd. grew its holdings in Johnson & Johnson by 9.1% in the 2nd quarter. Global X Japan Co. Ltd. now owns 2,837 shares of the company’s stock worth $415,000 after acquiring an additional 236 shares during the last quarter. LGT Fund Management Co Ltd. grew its holdings in Johnson & Johnson by 9.8% in the 2nd quarter. LGT Fund Management Co Ltd. now owns 6,843 shares of the company’s stock worth $1,000,000 after acquiring an additional 613 shares during the last quarter. Finally, Lane & Associates LLC boosted its stake in shares of Johnson & Johnson by 2.7% during the 2nd quarter. Lane & Associates LLC now owns 4,251 shares of the company’s stock valued at $621,000 after purchasing an additional 111 shares in the last quarter. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Down 1.5 %

Shares of Johnson & Johnson stock opened at $164.82 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. The stock 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 52-week low of $143.13 and a 52-week high of $168.85. The company has a 50-day simple moving average of $158.79 and a two-hundred day simple moving average of $153.93.

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

Johnson & Johnson Announces Dividend

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

Insider Activity

In other news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on JNJ shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research note on Monday. Morgan Stanley lifted their target price on shares of Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Daiwa Capital Markets lowered shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their target price for the company from $160.00 to $150.00 in a research note on Tuesday, July 23rd. StockNews.com lowered shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 target price on shares of Johnson & Johnson in a research note on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $173.21.

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.