Brooktree Capital Management Sells 1,797 Shares of Johnson & Johnson (NYSE:JNJ)

Brooktree Capital Management reduced its position in Johnson & Johnson (NYSE:JNJ) by 6.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,474 shares of the company’s stock after selling 1,797 shares during the quarter. Johnson & Johnson makes up approximately 3.4% of Brooktree Capital Management’s portfolio, making the stock its 10th biggest position. Brooktree Capital Management’s holdings in Johnson & Johnson were worth $4,128,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of JNJ. Innealta Capital LLC acquired a new position in shares of Johnson & Johnson in the second quarter valued at approximately $27,000. Highline Wealth Partners LLC acquired a new position in shares of Johnson & Johnson in the third quarter worth $31,000. Mowery & Schoenfeld Wealth Management LLC increased its position in shares of Johnson & Johnson by 58.7% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after acquiring an additional 91 shares during the period. Morton Brown Family Wealth LLC increased its position in shares of Johnson & Johnson by 400.0% during the third quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock worth $41,000 after acquiring an additional 200 shares during the period. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of Johnson & Johnson in the second quarter valued at $43,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Up 0.4 %

JNJ opened at $153.28 on Thursday. The stock has a market capitalization of $369.04 billion, a P/E ratio of 22.18, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85. The business’s 50-day simple moving average is $161.82 and its 200-day simple moving average is $155.99.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. The company had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.66 earnings per share. Analysts anticipate that Johnson & Johnson will post 9.93 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.24%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s payout ratio is currently 71.78%.

Analysts Set New Price Targets

JNJ has been the topic of several recent research reports. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. TD Cowen cut their target price on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Daiwa Capital Markets downgraded shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Finally, Daiwa America cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $175.00.

Insider Activity

In related 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 value of $930,113.10. Following the transaction, the vice president now owns 18,973 shares in the company, valued at $3,131,683.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.16% of the company’s stock.

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.