Los Angeles Capital Management LLC Lowers Stock Holdings in Johnson & Johnson $JNJ

Los Angeles Capital Management LLC cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 43.1% in the 2nd quarter, Holdings Channel reports. The fund owned 819,653 shares of the company’s stock after selling 620,731 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Johnson & Johnson were worth $125,202,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nuveen LLC purchased a new position in Johnson & Johnson in the 1st quarter valued at $1,369,188,000. Pacer Advisors Inc. lifted its stake in shares of Johnson & Johnson by 1,382.0% in the 1st quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company’s stock worth $502,509,000 after acquiring an additional 2,825,626 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Johnson & Johnson by 159.6% in the second quarter. Assenagon Asset Management S.A. now owns 4,159,260 shares of the company’s stock valued at $635,327,000 after acquiring an additional 2,557,388 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in Johnson & Johnson during the second quarter worth about $401,420,000. Finally, Dimensional Fund Advisors LP raised its holdings in Johnson & Johnson by 14.4% during the first quarter. Dimensional Fund Advisors LP now owns 16,903,105 shares of the company’s stock worth $2,803,042,000 after purchasing an additional 2,129,612 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Trading Down 0.3%

Shares of JNJ opened at $186.50 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.07 and a quick ratio of 0.80. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $194.48. The stock has a market cap of $449.34 billion, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 2.19 and a beta of 0.38. The firm has a 50 day simple moving average of $184.25 and a 200-day simple moving average of $168.63.

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

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 25th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Tuesday, November 25th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 50.19%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. UBS Group lifted 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. Johnson Rice set a $190.00 price target on Johnson & Johnson and gave the company a “hold” rating in a research note on Wednesday, October 22nd. Erste Group Bank raised Johnson & Johnson from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Cowen reissued a “buy” rating on shares of Johnson & Johnson in a report on Tuesday, October 14th. Finally, Barclays upped their price target on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 17th. Three analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.05.

Insiders Place Their Bets

In other Johnson & Johnson 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 transaction, the executive vice president directly owned 178,013 shares in the company, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.16% of the company’s stock.

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.