Kanawha Capital Management LLC Cuts Position in Johnson & Johnson (NYSE:JNJ)

Kanawha Capital Management LLC reduced its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 0.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 146,277 shares of the company’s stock after selling 1,306 shares during the quarter. Johnson & Johnson accounts for 1.7% of Kanawha Capital Management LLC’s portfolio, making the stock its 16th largest position. Kanawha Capital Management LLC’s holdings in Johnson & Johnson were worth $23,706,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its position in Johnson & Johnson by 16.8% in the first 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 acquiring an additional 3,139,499 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Johnson & Johnson by 10.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock worth $2,744,979,000 after acquiring an additional 1,831,751 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Johnson & Johnson by 5.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 14,374,397 shares of the company’s stock worth $2,100,427,000 after purchasing an additional 754,200 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Johnson & Johnson by 16.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,147,352 shares of the company’s stock valued at $1,921,565,000 after purchasing an additional 1,829,257 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of Johnson & Johnson by 5.8% during the second quarter. American Century Companies Inc. now owns 8,014,213 shares of the company’s stock worth $1,171,357,000 after buying an additional 437,637 shares in the last quarter. Institutional investors and hedge funds 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 the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the sale, the vice president now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Johnson & Johnson Stock Down 1.2 %

JNJ stock opened at $158.24 on Tuesday. The firm’s 50-day moving average is $163.18 and its two-hundred day moving average is $155.68. The company has a market capitalization of $380.98 billion, a price-to-earnings ratio of 22.90, a price-to-earnings-growth ratio of 2.84 and a beta of 0.52. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The firm had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. During the same period in the prior year, the firm posted $2.66 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, analysts forecast that Johnson & Johnson will post 9.94 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio is presently 71.78%.

Wall Street Analyst Weigh In

JNJ has been the topic of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Wednesday, October 16th. Wells Fargo & Company boosted their price target on Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. The Goldman Sachs Group reduced their price objective on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Daiwa America cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, Sanford C. Bernstein upped their target price on Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $175.93.

About Johnson & Johnson

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.