Johnson & Johnson (NYSE:JNJ) Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. reduced its stake in Johnson & Johnson (NYSE:JNJ) by 3.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 222,005 shares of the company’s stock after selling 7,321 shares during the period. Johnson & Johnson makes up about 2.0% of Cullinan Associates Inc.’s holdings, making the stock its 10th largest holding. Cullinan Associates Inc.’s holdings in Johnson & Johnson were worth $36,223,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of JNJ. International Assets Investment Management LLC boosted its stake in shares of Johnson & Johnson by 20,130.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,454,473 shares of the company’s stock valued at $559,832,000 after buying an additional 3,437,397 shares during the period. Marshall Wace LLP raised its holdings in Johnson & Johnson by 506.9% in the second quarter. Marshall Wace LLP now owns 3,884,962 shares of the company’s stock valued at $567,826,000 after acquiring an additional 3,244,862 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in 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 worth $3,453,978,000 after acquiring an additional 3,139,499 shares during the last quarter. Ninety One UK Ltd grew its holdings in 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 acquiring an additional 2,489,925 shares in the last quarter. Finally, Swedbank AB purchased a new stake in shares of Johnson & Johnson in the 1st quarter valued at approximately $331,178,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $160.88 on Friday. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85. The stock has a market capitalization of $387.28 billion, a price-to-earnings ratio of 23.28, a PEG ratio of 2.90 and a beta of 0.52. The company has a 50-day simple moving average of $163.41 and a 200-day simple moving average of $155.07. 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 quarterly earnings data on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.46% and a net margin of 19.14%. The firm had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. During the same period in the prior year, the business earned $2.66 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. On average, analysts predict that Johnson & Johnson will post 9.94 EPS for the current year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be paid a $1.24 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 annualized dividend and a yield of 3.08%. Johnson & Johnson’s dividend payout ratio is currently 71.78%.

Insiders Place Their Bets

In other news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction dated Friday, August 30th. The shares were 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 $3,131,683.38. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on JNJ shares. Morgan Stanley lifted their price objective on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Citigroup upped their price objective on Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Royal Bank of Canada boosted their target price on Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Daiwa America lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Daiwa Capital Markets downgraded shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.