Davis R M Inc. lowered its position in shares of Johnson & Johnson (NYSE:JNJ) by 0.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 348,969 shares of the company’s stock after selling 1,645 shares during the quarter. Johnson & Johnson comprises about 1.7% of Davis R M Inc.’s investment portfolio, making the stock its 8th largest position. Davis R M Inc.’s holdings in Johnson & Johnson were worth $48,217,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in JNJ. Fundsmith Equity Fund L.P. acquired a new stake in Johnson & Johnson during the second quarter valued at approximately $552,762,000. Cornerstone Wealth Management LLC raised its stake in Johnson & Johnson by 10,307.6% during the second quarter. Cornerstone Wealth Management LLC now owns 2,497,098 shares of the company’s stock valued at $20,537,000 after buying an additional 2,473,105 shares in the last quarter. Bank of Montreal Can raised its stake in Johnson & Johnson by 36.1% during the second quarter. Bank of Montreal Can now owns 6,910,459 shares of the company’s stock valued at $838,515,000 after buying an additional 1,833,622 shares in the last quarter. Summit Trail Advisors LLC raised its stake in Johnson & Johnson by 11,692.6% during the first quarter. Summit Trail Advisors LLC now owns 1,767,832 shares of the company’s stock valued at $1,768,000 after buying an additional 1,752,841 shares in the last quarter. Finally, Royal London Asset Management Ltd. acquired a new stake in Johnson & Johnson during the second quarter valued at approximately $150,576,000. Hedge funds and other institutional investors own 66.23% of the company’s stock.

In other Johnson & Johnson news, Director Charles Prince acquired 2,000 shares of the firm’s stock in a transaction that occurred on Friday, December 14th. The stock was acquired at an average cost of $134.37 per share, with a total value of $268,740.00. Following the acquisition, the director now directly owns 28,520 shares of the company’s stock, valued at approximately $3,832,232.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Ronald A. Kapusta sold 8,441 shares of the stock in a transaction that occurred on Thursday, November 8th. The stock was sold at an average price of $145.15, for a total value of $1,225,211.15. Following the completion of the transaction, the chief accounting officer now directly owns 17,284 shares of the company’s stock, valued at $2,508,772.60. The disclosure for this sale can be found here. Insiders sold a total of 514,187 shares of company stock valued at $74,951,528 over the last three months. Corporate insiders own 0.22% of the company’s stock.

Several analysts have issued reports on the company. Credit Suisse Group set a $149.00 price objective on Johnson & Johnson and gave the company a “buy” rating in a research note on Sunday, October 14th. Raymond James increased their price target on Johnson & Johnson from $144.00 to $149.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 17th. HC Wainwright reiterated a “buy” rating on shares of Johnson & Johnson in a research report on Wednesday, October 17th. Zacks Investment Research cut Johnson & Johnson from a “buy” rating to a “hold” rating in a research report on Tuesday, December 4th. Finally, Citigroup increased their price target on Johnson & Johnson from $137.00 to $148.00 and gave the stock a “neutral” rating in a research report on Monday, October 22nd. Three analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $140.89.

Shares of Johnson & Johnson stock opened at $129.75 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.40 and a current ratio of 1.72. The company has a market cap of $345.91 billion, a PE ratio of 17.77, a P/E/G ratio of 1.90 and a beta of 0.72. Johnson & Johnson has a twelve month low of $118.62 and a twelve month high of $148.99.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, October 16th. The company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.02. Johnson & Johnson had a return on equity of 34.62% and a net margin of 1.89%. The business had revenue of $20.35 billion for the quarter, compared to analysts’ expectations of $20.05 billion. During the same period in the prior year, the firm earned $1.90 EPS. The business’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, research analysts expect that Johnson & Johnson will post 8.16 EPS for the current year.

Johnson & Johnson declared that its Board of Directors has initiated a share repurchase program on Monday, December 17th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to repurchase up to 1.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 12th. Investors of record on Tuesday, February 26th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Monday, February 25th. Johnson & Johnson’s dividend payout ratio (DPR) is 49.32%.

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Johnson & Johnson Profile

Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment includes products used in the baby care, oral care, beauty, over-the-counter pharmaceutical, women’s health, and wound care markets.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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