Cullen Frost Bankers Inc. Lowers Position in Johnson & Johnson $JNJ

Cullen Frost Bankers Inc. reduced its stake in Johnson & Johnson (NYSE:JNJ) by 2.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 334,983 shares of the company’s stock after selling 9,664 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Johnson & Johnson were worth $51,169,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. GFG Capital LLC purchased a new stake in shares of Johnson & Johnson during the 2nd quarter valued at $35,000. Stone House Investment Management LLC bought a new position in Johnson & Johnson in the 1st quarter worth about $47,000. 1248 Management LLC bought a new position in Johnson & Johnson in the 1st quarter worth about $48,000. von Borstel & Associates Inc. bought a new position in Johnson & Johnson in the 1st quarter worth about $49,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Johnson & Johnson during the 1st quarter valued at about $52,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ opened at $192.81 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The stock’s 50-day moving average is $181.64 and its 200 day moving average is $165.56. The stock has a market cap of $464.35 billion, a price-to-earnings ratio of 18.61, a P/E/G ratio of 2.25 and a beta of 0.40. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $194.48.

Johnson & Johnson (NYSE:JNJ) last announced 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 for the quarter. Johnson & Johnson had a return on equity of 33.08% and a net margin of 27.26%. On average, sell-side analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 25th will be given a dividend of $1.30 per share. The ex-dividend date is Tuesday, November 25th. This represents a $5.20 annualized dividend and a dividend yield of 2.7%. Johnson & Johnson’s payout ratio is currently 50.19%.

Insider Buying and Selling at Johnson & Johnson

In related 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 transaction of $10,041,108.51. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on JNJ shares. Guggenheim upgraded Johnson & Johnson from a “neutral” rating to a “buy” rating and lifted their price target for the company from $167.00 to $206.00 in a research report on Tuesday, September 23rd. Erste Group Bank upgraded Johnson & Johnson from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Cowen reiterated a “buy” rating on shares of Johnson & Johnson in a research report on Tuesday, October 14th. Loop Capital set a $190.00 price objective on Johnson & Johnson in a report on Wednesday. Finally, UBS Group raised their price objective on Johnson & Johnson from $190.00 to $214.00 and gave the company a “buy” rating in a report on Tuesday, October 14th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $199.05.

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.