Schmidt P J Investment Management Inc. Has $2.69 Million Stake in Johnson & Johnson (NYSE:JNJ)

Schmidt P J Investment Management Inc. reduced its holdings in Johnson & Johnson (NYSE:JNJ) by 6.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,589 shares of the company’s stock after selling 1,218 shares during the quarter. Schmidt P J Investment Management Inc.’s holdings in Johnson & Johnson were worth $2,688,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of JNJ. International Assets Investment Management LLC lifted its position in shares of Johnson & Johnson by 20,130.0% during the third quarter. International Assets Investment Management LLC now owns 3,454,473 shares of the company’s stock worth $559,832,000 after purchasing an additional 3,437,397 shares in the last quarter. Marshall Wace LLP lifted its holdings in Johnson & Johnson by 506.9% during the 2nd quarter. Marshall Wace LLP now owns 3,884,962 shares of the company’s stock worth $567,826,000 after buying an additional 3,244,862 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Johnson & Johnson by 16.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock valued at $3,453,978,000 after buying an additional 3,139,499 shares during the last quarter. Ninety One UK Ltd increased its stake in shares of Johnson & Johnson by 59.0% in the 2nd quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock valued at $980,579,000 after buying an additional 2,489,925 shares during the period. Finally, Swedbank AB acquired a new position in shares of Johnson & Johnson during the first quarter valued at $331,178,000. 69.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction on 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 directly owns 18,973 shares in the company, valued at approximately $3,131,683.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

JNJ has been the subject of several recent research reports. TD Cowen dropped their price objective on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Morgan Stanley increased their price objective on shares of 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 lowered shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $160.00 to $150.00 in a report on Tuesday, July 23rd. Sanford C. Bernstein increased their price target on Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Finally, Daiwa America cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.93.

Johnson & Johnson Stock Down 1.7 %

Johnson & Johnson stock opened at $160.88 on Friday. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $168.85. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The company has a 50 day moving average of $163.38 and a 200-day moving average of $154.98. The stock has a market capitalization of $387.28 billion, a PE ratio of 23.28, a price-to-earnings-growth 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. The firm had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. Johnson & Johnson had a return on equity of 35.46% and a net margin of 19.14%. The company’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.66 EPS. On average, equities research analysts anticipate that Johnson & Johnson will post 9.94 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

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

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.