Cumberland Partners Ltd Trims Stock Position in Johnson & Johnson $JNJ

Cumberland Partners Ltd reduced its stake in Johnson & Johnson (NYSE:JNJ) by 18.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,800 shares of the company’s stock after selling 2,730 shares during the period. Cumberland Partners Ltd’s holdings in Johnson & Johnson were worth $1,802,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. W.H. Cornerstone Investments Inc. grew its position in Johnson & Johnson by 0.7% in the 2nd quarter. W.H. Cornerstone Investments Inc. now owns 7,896 shares of the company’s stock valued at $1,206,000 after acquiring an additional 58 shares in the last quarter. Greenup Street Wealth Management LLC increased its stake in shares of Johnson & Johnson by 3.1% during the second quarter. Greenup Street Wealth Management LLC now owns 2,021 shares of the company’s stock worth $309,000 after buying an additional 60 shares during the period. Ellis Investment Partners LLC raised its holdings in shares of Johnson & Johnson by 0.7% in the 2nd quarter. Ellis Investment Partners LLC now owns 8,559 shares of the company’s stock valued at $1,307,000 after purchasing an additional 62 shares in the last quarter. Cypress Wealth Services LLC boosted its position in shares of Johnson & Johnson by 0.9% during the 2nd quarter. Cypress Wealth Services LLC now owns 6,634 shares of the company’s stock worth $1,013,000 after acquiring an additional 62 shares in the last quarter. Finally, Horizon Bancorp Inc. IN raised its stake in Johnson & Johnson by 11.2% during the 2nd quarter. Horizon Bancorp Inc. IN now owns 636 shares of the company’s stock worth $97,000 after acquiring an additional 64 shares in the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JNJ has been the subject of several recent research reports. Erste Group Bank upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Stifel Nicolaus lifted their price objective on Johnson & Johnson from $165.00 to $190.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Argus set a $210.00 price target on shares of Johnson & Johnson in a research report on Wednesday, October 15th. Sanford C. Bernstein increased their price objective on shares of Johnson & Johnson from $172.00 to $193.00 and gave the company a “market perform” rating in a report on Monday, October 6th. Finally, Citigroup boosted their price target on shares of Johnson & Johnson from $213.00 to $215.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Four analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus target price of $201.05.

Johnson & Johnson Price Performance

Shares of JNJ opened at $203.04 on Thursday. The firm has a market cap of $489.18 billion, a PE ratio of 19.60, a PEG ratio of 2.19 and a beta of 0.38. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $203.48. The firm’s 50 day moving average price is $187.24 and its 200 day moving average price is $170.99. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.80 and a current ratio of 1.07.

Johnson & Johnson (NYSE:JNJ) last released its quarterly 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 company had revenue of $24.02 billion during the quarter. As a group, research analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th will be given a dividend of $1.30 per share. The ex-dividend date is Tuesday, November 25th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.6%. Johnson & Johnson’s payout ratio is currently 50.19%.

Insider Buying and Selling at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the company’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $177.81, for a total value of $10,041,108.51. Following the sale, the executive vice president owned 178,013 shares of the company’s stock, valued at $31,652,491.53. The trade was a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson 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.