Johnson & Johnson (JNJ) Holdings Cut by Leavell Investment Management Inc.

Leavell Investment Management Inc. lessened its position in Johnson & Johnson (NYSE:JNJ) by 1.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,892 shares of the company’s stock after selling 450 shares during the period. Leavell Investment Management Inc.’s holdings in Johnson & Johnson were worth $5,542,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its stake in shares of Johnson & Johnson by 4.3% during the 1st quarter. State Street Corp now owns 160,223,321 shares of the company’s stock valued at $19,955,806,000 after purchasing an additional 6,656,371 shares in the last quarter. Korea Investment CORP boosted its stake in shares of Johnson & Johnson by 38.9% during the 1st quarter. Korea Investment CORP now owns 2,130,033 shares of the company’s stock valued at $265,296,000 after purchasing an additional 596,134 shares in the last quarter. Bank of Nova Scotia boosted its stake in shares of Johnson & Johnson by 94.5% during the 1st quarter. Bank of Nova Scotia now owns 1,171,517 shares of the company’s stock valued at $145,914,000 after purchasing an additional 569,313 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Johnson & Johnson during the 1st quarter valued at about $65,598,000. Finally, CIBC World Markets Inc. boosted its stake in shares of Johnson & Johnson by 111.8% during the 1st quarter. CIBC World Markets Inc. now owns 948,655 shares of the company’s stock valued at $118,155,000 after purchasing an additional 500,662 shares in the last quarter. 65.90% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently weighed in on JNJ. J P Morgan Chase & Co lifted their target price on shares of Johnson & Johnson from $140.00 to $148.00 and gave the company an “overweight” rating in a research note on Wednesday, August 16th. Jefferies Group LLC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their target price for the company from $145.00 to $157.00 in a research note on Wednesday. UBS AG reaffirmed a “buy” rating and set a $148.00 target price (up previously from $136.00) on shares of Johnson & Johnson in a research note on Wednesday, July 19th. BidaskClub raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 17th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and set a $135.00 target price (up previously from $132.00) on shares of Johnson & Johnson in a research note on Thursday, July 6th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. Johnson & Johnson currently has an average rating of “Hold” and a consensus target price of $136.02.

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

Shares of Johnson & Johnson (JNJ) traded up 2.02% on Wednesday, reaching $136.60. 3,921,067 shares of the company’s stock traded hands. The company has a market cap of $366.63 billion, a PE ratio of 22.96 and a beta of 0.78. Johnson & Johnson has a 12-month low of $109.32 and a 12-month high of $137.08. The stock has a 50-day moving average price of $132.27 and a 200-day moving average price of $130.03.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, July 18th. The company reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.04. Johnson & Johnson had a net margin of 22.52% and a return on equity of 26.76%. The business had revenue of $18.84 billion for the quarter, compared to analysts’ expectations of $18.94 billion. During the same period last year, the business earned $1.74 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. Equities research analysts anticipate that Johnson & Johnson will post $7.18 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Tuesday, August 29th were issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date was Friday, August 25th. Johnson & Johnson’s dividend payout ratio is currently 56.76%.

About Johnson & Johnson

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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