TD Asset Management Inc Cuts Stake in Johnson & Johnson $JNJ

TD Asset Management Inc cut its stake in Johnson & Johnson (NYSE:JNJ) by 2.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,551,304 shares of the company’s stock after selling 41,149 shares during the quarter. TD Asset Management Inc’s holdings in Johnson & Johnson were worth $236,962,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. GFG Capital LLC purchased a new position in Johnson & Johnson in the second quarter valued at about $35,000. Stone House Investment Management LLC acquired a new stake in shares of Johnson & Johnson during the first quarter valued at about $47,000. 1248 Management LLC acquired a new stake in shares of Johnson & Johnson during the first quarter valued at about $48,000. von Borstel & Associates Inc. acquired a new stake in shares of Johnson & Johnson during the first quarter valued at about $49,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Johnson & Johnson during the first quarter valued at about $52,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Up 0.3%

NYSE:JNJ opened at $191.79 on Friday. The company has a market capitalization of $461.90 billion, a price-to-earnings ratio of 18.51, a price-to-earnings-growth ratio of 2.40 and a beta of 0.40. Johnson & Johnson has a one year low of $140.68 and a one year high of $194.40. The stock has a 50-day simple moving average of $180.09 and a 200 day simple moving average of $164.52. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. The business had revenue of $24.02 billion during the quarter. Johnson & Johnson had a return on equity of 33.08% and a net margin of 27.26%. Sell-side analysts predict that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Tuesday, November 25th. Johnson & Johnson’s payout ratio is presently 55.61%.

Insider Buying and Selling

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $177.81, for a total value of $10,041,108.51. Following the completion of the transaction, the executive vice president directly owned 178,013 shares in the company, valued at $31,652,491.53. The trade was a 24.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on JNJ. The Goldman Sachs Group raised their target price on Johnson & Johnson from $186.00 to $212.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Piper Sandler restated an “overweight” rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Sanford C. Bernstein raised their target price on Johnson & Johnson from $172.00 to $193.00 and gave the company a “market perform” rating in a research note on Monday, October 6th. Argus set a $210.00 target price on Johnson & Johnson in a research note on Wednesday. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $209.00 price target on shares of Johnson & Johnson in a research note on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.59.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.