Novare Capital Management LLC Sells 3,143 Shares of Johnson & Johnson (NYSE:JNJ)

Novare Capital Management LLC trimmed its stake in shares of Johnson & Johnson (NYSE:JNJ) by 2.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,294 shares of the company’s stock after selling 3,143 shares during the quarter. Johnson & Johnson makes up 1.8% of Novare Capital Management LLC’s investment portfolio, making the stock its 14th largest position. Novare Capital Management LLC’s holdings in Johnson & Johnson were worth $20,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Norges Bank bought a new stake in Johnson & Johnson in the 4th quarter worth $4,071,642,000. Wellington Management Group LLP boosted its holdings in shares of Johnson & Johnson by 16.4% during the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock worth $3,764,852,000 after purchasing an additional 3,391,657 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of 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 worth $3,453,978,000 after purchasing an additional 3,139,499 shares during the last quarter. Ninety One UK Ltd raised its position in Johnson & Johnson by 59.0% during the 2nd quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock valued at $980,579,000 after purchasing an additional 2,489,925 shares during the last quarter. Finally, Swedbank AB purchased a new stake in Johnson & Johnson in the 1st quarter worth approximately $331,178,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on JNJ shares. Daiwa Capital Markets cut Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Tuesday. The Goldman Sachs Group dropped their target price on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. TD Securities reduced their price target on shares of Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a report on Tuesday, July 30th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.21.

Johnson & Johnson Stock Up 0.1 %

JNJ stock opened at $167.27 on Thursday. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average of $156.82 and a 200 day moving average of $153.70. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $168.85. The firm has a market cap of $402.57 billion, a PE ratio of 10.43, a price-to-earnings-growth ratio of 2.73 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.11. The firm had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. Johnson & Johnson’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 EPS. On average, research analysts forecast that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be paid a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $4.96 annualized dividend and a dividend yield of 2.97%. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Insider Activity

In related news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the transaction, the vice president now directly owns 18,973 shares in the company, valued at approximately $3,131,683.38. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.