Cullen Capital Management LLC Sells 23,269 Shares of Johnson & Johnson $JNJ

Cullen Capital Management LLC decreased its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 1.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,211,617 shares of the company’s stock after selling 23,269 shares during the period. Johnson & Johnson makes up approximately 2.1% of Cullen Capital Management LLC’s portfolio, making the stock its 18th largest position. Cullen Capital Management LLC’s holdings in Johnson & Johnson were worth $185,074,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Clark Asset Management LLC grew its holdings in shares of Johnson & Johnson by 51.6% in the 2nd quarter. Clark Asset Management LLC now owns 8,884 shares of the company’s stock worth $1,357,000 after purchasing an additional 3,025 shares during the last quarter. Treasurer of the State of North Carolina boosted its position in Johnson & Johnson by 8.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 1,234,945 shares of the company’s stock valued at $188,638,000 after buying an additional 94,957 shares during the last quarter. Apexium Financial LP increased its stake in shares of Johnson & Johnson by 10.7% in the 1st quarter. Apexium Financial LP now owns 23,989 shares of the company’s stock valued at $3,978,000 after buying an additional 2,310 shares during the period. Avanza Fonder AB lifted its stake in shares of Johnson & Johnson by 2.9% during the second quarter. Avanza Fonder AB now owns 234,647 shares of the company’s stock valued at $35,842,000 after acquiring an additional 6,566 shares during the period. Finally, Winnow Wealth LLC acquired a new position in Johnson & Johnson during the 2nd quarter valued at about $295,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on JNJ shares. Wall Street Zen raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Citigroup upped their target price on shares of Johnson & Johnson from $215.00 to $232.00 and gave the company a “buy” rating in a research report on Thursday. Argus set a $210.00 price target on Johnson & Johnson in a research report on Wednesday, October 15th. UBS Group upped their price objective on Johnson & Johnson from $190.00 to $214.00 and gave the company a “buy” rating in a report on Tuesday, October 14th. Finally, Bank of America raised their target price on Johnson & Johnson from $204.00 to $220.00 and gave the stock a “neutral” rating in a report on Monday. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $208.35.

Johnson & Johnson Price Performance

JNJ opened at $214.41 on Tuesday. The stock has a market cap of $516.58 billion, a P/E ratio of 20.70, a P/E/G ratio of 2.36 and a beta of 0.36. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $215.19. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.50. The company has a fifty day simple moving average of $196.61 and a 200 day simple moving average of $177.85.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. Johnson & Johnson had a return on equity of 32.73% and a net margin of 27.26%.The firm had revenue of $24.02 billion during the quarter. On average, research analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 2.4%. The ex-dividend date was Tuesday, November 25th. Johnson & Johnson’s dividend payout ratio (DPR) is 50.19%.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.