Daniel Devine & Co Decreases Stake in Johnson & Johnson (NYSE:JNJ)

Daniel Devine & Co decreased its stake in shares of Johnson & Johnson (NYSE:JNJ) by 19.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,732 shares of the company’s stock after selling 9,650 shares during the period. Johnson & Johnson accounts for 4.0% of Daniel Devine & Co’s investment portfolio, making the stock its 5th largest position. Daniel Devine & Co’s holdings in Johnson & Johnson were worth $4,824,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in JNJ. Lenox Wealth Advisors Inc. raised its position in Johnson & Johnson by 0.7% in the first quarter. Lenox Wealth Advisors Inc. now owns 871 shares of the company’s stock valued at $108,000 after buying an additional 6 shares during the period. Thomas J. Herzfeld Advisors Inc. purchased a new stake in shares of Johnson & Johnson during the fourth quarter valued at $117,000. Empirical Finance LLC purchased a new stake in shares of Johnson & Johnson during the fourth quarter valued at $144,000. Taylor Wealth Management Partners increased its stake in shares of Johnson & Johnson by 19.8% in the first quarter. Taylor Wealth Management Partners now owns 1,510 shares of the company’s stock valued at $188,000 after buying an additional 250 shares in the last quarter. Finally, Foundation Resource Management Inc. purchased a new stake in shares of Johnson & Johnson during the first quarter valued at $204,000. Institutional investors and hedge funds own 66.10% of the company’s stock.

Johnson & Johnson (NYSE JNJ) traded down 0.31% during trading on Friday, hitting $132.63. 4,792,761 shares of the stock traded hands. The firm’s 50-day moving average is $132.88 and its 200-day moving average is $127.04. Johnson & Johnson has a 12 month low of $109.32 and a 12 month high of $137.08. The stock has a market cap of $355.98 billion, a P/E ratio of 22.44 and a beta of 0.78.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, July 18th. The company reported $1.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.79 by $0.04. Johnson & Johnson had a return on equity of 26.76% and a net margin of 22.52%. The firm had revenue of $18.84 billion during the quarter, compared to the consensus estimate of $18.94 billion. During the same period last year, the company earned $1.74 earnings per share. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, analysts forecast that Johnson & Johnson will post $7.18 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Tuesday, August 29th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Friday, August 25th. Johnson & Johnson’s dividend payout ratio is presently 56.76%.

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Several equities research analysts have recently weighed in on JNJ shares. BidaskClub raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 17th. Jefferies Group LLC reissued a “hold” rating and issued a $135.00 target price (down previously from $140.00) on shares of Johnson & Johnson in a research note on Sunday, May 14th. Royal Bank Of Canada reissued a “buy” rating and issued a $128.00 target price on shares of Johnson & Johnson in a research note on Thursday, June 15th. Atlantic Securities downgraded shares of Johnson & Johnson from a “neutral” rating to an “underweight” rating and set a $113.00 price target on the stock. in a research note on Friday, July 21st. Finally, Morgan Stanley raised their price target on shares of Johnson & Johnson from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 5th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company’s stock. Johnson & Johnson presently has a consensus rating of “Hold” and an average target price of $134.12.

In other Johnson & Johnson news, VP Paulus Stoffels sold 102,692 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $133.14, for a total value of $13,672,412.88. Following the completion of the sale, the vice president now owns 230,342 shares of the company’s stock, valued at $30,667,733.88. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Dominic J. Caruso sold 82,591 shares of the firm’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $136.72, for a total value of $11,291,841.52. Following the completion of the transaction, the vice president now owns 226,693 shares of the company’s stock, valued at approximately $30,993,466.96. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. It operates through three segments: Consumer, Pharmaceutical and Medical Devices. Its primary focus is products related to human health and well-being.

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

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