Yacktman Asset Management LP Lowers Stock Position in Johnson & Johnson (NYSE:JNJ)

by · The Markets Daily

Yacktman Asset Management LP lowered its holdings in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 6.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,413,400 shares of the company’s stock after selling 93,440 shares during the quarter. Johnson & Johnson makes up 2.3% of Yacktman Asset Management LP’s holdings, making the stock its 15th largest position. Yacktman Asset Management LP owned about 0.06% of Johnson & Johnson worth $229,056,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its holdings in shares of Johnson & Johnson by 16.8% during 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 during 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 purchasing an additional 1,831,751 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Johnson & Johnson by 5.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 14,374,397 shares of the company’s stock valued at $2,100,427,000 after purchasing an additional 754,200 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in 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. boosted its stake in Johnson & Johnson by 5.8% during the 2nd quarter. American Century Companies Inc. now owns 8,014,213 shares of the company’s stock worth $1,171,357,000 after purchasing an additional 437,637 shares during the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Stock Up 0.1 %

Shares of NYSE JNJ opened at $158.35 on Wednesday. The business’s fifty day simple moving average is $163.09 and its 200-day simple moving average is $155.75. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The stock has a market cap of $381.25 billion, a P/E ratio of 22.92, a PEG ratio of 2.84 and a beta of 0.53. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last issued its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The firm had revenue of $22.47 billion for the quarter, compared to analysts’ expectations of $22.17 billion. During the same quarter last year, the company earned $2.66 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, equities analysts predict that Johnson & Johnson will post 9.94 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is 71.78%.

Insider Activity at Johnson & Johnson

In other 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 transaction of $930,113.10. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Morgan Stanley increased their price objective on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Royal Bank of Canada upped their price objective on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Daiwa Capital Markets downgraded 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 report on Tuesday, July 23rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Wednesday, October 16th. Finally, TD Cowen reduced their price objective on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Six equities 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $175.93.

Read Our Latest Stock Analysis on JNJ

Johnson & Johnson Company Profile

(Free Report)

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.

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