Gateway Investment Advisers LLC Sells 3,062 Shares of Johnson & Johnson (NYSE:JNJ)

Gateway Investment Advisers LLC cut its position in Johnson & Johnson (NYSE:JNJ) by 0.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 534,880 shares of the company’s stock after selling 3,062 shares during the period. Johnson & Johnson makes up about 1.0% of Gateway Investment Advisers LLC’s investment portfolio, making the stock its 20th largest holding. Gateway Investment Advisers LLC’s holdings in Johnson & Johnson were worth $86,683,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in JNJ. Code Waechter LLC bought a new position in shares of Johnson & Johnson during the third quarter valued at $730,000. Atwater Malick LLC raised its position in Johnson & Johnson by 0.6% in the 3rd quarter. Atwater Malick LLC now owns 50,152 shares of the company’s stock worth $8,128,000 after buying an additional 312 shares during the last quarter. Guinness Asset Management LTD boosted its holdings in shares of Johnson & Johnson by 4.6% during the 3rd quarter. Guinness Asset Management LTD now owns 1,324,122 shares of the company’s stock valued at $214,540,000 after acquiring an additional 57,964 shares during the last quarter. Avity Investment Management Inc. grew its stake in shares of Johnson & Johnson by 0.6% in the third quarter. Avity Investment Management Inc. now owns 242,217 shares of the company’s stock worth $39,254,000 after acquiring an additional 1,498 shares during the period. Finally, Octavia Wealth Advisors LLC raised its holdings in shares of Johnson & Johnson by 29.4% during the third quarter. Octavia Wealth Advisors LLC now owns 13,438 shares of the company’s stock valued at $2,178,000 after purchasing an additional 3,054 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.16% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Sanford C. Bernstein lifted their target price on shares of Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. The Goldman Sachs Group lowered their target price on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Morgan Stanley boosted their price target on Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Daiwa America downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $173.43.

Johnson & Johnson Price Performance

JNJ traded up $0.95 on Friday, hitting $161.46. 5,253,459 shares of the company’s stock traded hands, compared to its average volume of 7,039,524. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The firm has a market cap of $388.58 billion, a price-to-earnings ratio of 10.07, a P/E/G ratio of 2.65 and a beta of 0.52. The company’s 50 day simple moving average is $162.59 and its 200-day simple moving average is $154.49.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.71 by $0.11. The firm had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.80 earnings per share. As a group, research analysts anticipate that Johnson & Johnson will post 10 EPS for the current year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were given a $1.24 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.07%. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Johnson & Johnson Company 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.