Tufton Capital Management Lowers Stock Holdings in Johnson & Johnson $JNJ

Tufton Capital Management trimmed its position in Johnson & Johnson (NYSE:JNJ) by 3.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,186 shares of the company’s stock after selling 2,096 shares during the quarter. Johnson & Johnson makes up approximately 1.6% of Tufton Capital Management’s portfolio, making the stock its 24th biggest holding. Tufton Capital Management’s holdings in Johnson & Johnson were worth $8,429,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC raised its stake in Johnson & Johnson by 13.9% in the fourth quarter. Brighton Jones LLC now owns 51,876 shares of the company’s stock valued at $7,502,000 after purchasing an additional 6,332 shares in the last quarter. Wealth Group Ltd. purchased a new stake in Johnson & Johnson in the first quarter valued at approximately $218,000. Smart Money Group LLC raised its stake in Johnson & Johnson by 6.5% in the first quarter. Smart Money Group LLC now owns 6,687 shares of the company’s stock valued at $1,109,000 after purchasing an additional 407 shares in the last quarter. Argyle Capital Management LLC raised its stake in Johnson & Johnson by 0.8% in the first quarter. Argyle Capital Management LLC now owns 26,004 shares of the company’s stock valued at $4,313,000 after purchasing an additional 200 shares in the last quarter. Finally, Element Wealth LLC raised its stake in Johnson & Johnson by 5.8% in the first quarter. Element Wealth LLC now owns 1,886 shares of the company’s stock valued at $313,000 after purchasing an additional 104 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Sanford C. Bernstein raised their target price on shares of Johnson & Johnson from $172.00 to $193.00 and gave the company a “market perform” rating in a research note on Monday, October 6th. Morgan Stanley set a $190.00 price target on shares of Johnson & Johnson in a research note on Wednesday, October 15th. Citigroup lifted their price target on shares of Johnson & Johnson from $213.00 to $215.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Stifel Nicolaus lifted their price target on shares of Johnson & Johnson from $165.00 to $190.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Finally, Barclays lifted 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 assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and an average price target of $199.05.

Johnson & Johnson Stock Down 1.4%

Shares of NYSE JNJ opened at $186.24 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $194.48. The firm’s fifty day moving average is $183.43 and its 200 day moving average is $167.96. The company has a market cap of $448.71 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 2.19 and a beta of 0.40.

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

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders 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 of this dividend is Tuesday, November 25th. Johnson & Johnson’s payout ratio is presently 50.19%.

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the business’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the transaction, the executive vice president directly owned 178,013 shares of the company’s stock, valued at approximately $31,652,491.53. The trade was a 24.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.