Johnson & Johnson (NYSE:JNJ) Shares Sold by Empire Life Investments Inc.

Empire Life Investments Inc. lowered its holdings in Johnson & Johnson (NYSE:JNJ) by 3.1% in the third quarter, Holdings Channel.com reports. The firm owned 283,555 shares of the company’s stock after selling 9,055 shares during the period. Johnson & Johnson accounts for 3.4% of Empire Life Investments Inc.’s investment portfolio, making the stock its 8th largest holding. Empire Life Investments Inc.’s holdings in Johnson & Johnson were worth $42,216,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Morgan Stanley increased its position in Johnson & Johnson by 0.3% during the first quarter. Morgan Stanley now owns 20,801,433 shares of the company’s stock worth $2,727,694,000 after purchasing an additional 54,563 shares during the last quarter. First Command Bank grew its stake in shares of Johnson & Johnson by 81.6% during the 2nd quarter. First Command Bank now owns 29,634 shares of the company’s stock valued at $4,168,000 after buying an additional 13,312 shares during the period. Pachira Investments Inc. increased its holdings in shares of Johnson & Johnson by 26.5% during the 2nd quarter. Pachira Investments Inc. now owns 3,330 shares of the company’s stock worth $468,000 after buying an additional 698 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Johnson & Johnson by 7.9% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 1,407,370 shares of the company’s stock worth $197,925,000 after buying an additional 103,523 shares during the period. Finally, San Francisco Sentry Investment Group CA boosted its holdings in Johnson & Johnson by 2.1% in the second quarter. San Francisco Sentry Investment Group CA now owns 4,716 shares of the company’s stock valued at $663,000 after acquiring an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 67.44% of the company’s stock.

A number of equities analysts have recently commented on the company. Credit Suisse Group raised their price objective on Johnson & Johnson from $163.00 to $168.00 and gave the stock an “outperform” rating in a report on Wednesday, October 14th. ValuEngine raised shares of Johnson & Johnson from a “sell” rating to a “hold” rating in a research report on Monday, August 3rd. Stifel Nicolaus downgraded shares of Johnson & Johnson from a “buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Cantor Fitzgerald raised their target price on shares of Johnson & Johnson from $168.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday, October 14th. Finally, Bank of America reaffirmed a “buy” rating on shares of Johnson & Johnson in a research report on Monday, July 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. Johnson & Johnson currently has an average rating of “Buy” and a consensus price target of $164.93.

In related news, EVP Kathryn E. Wengel sold 16,115 shares of Johnson & Johnson stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $153.52, for a total value of $2,473,974.80. Following the completion of the sale, the executive vice president now owns 66,658 shares in the company, valued at $10,233,336.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.27% of the stock is currently owned by company insiders.

NYSE:JNJ opened at $150.85 on Tuesday. The firm has a 50-day moving average of $145.39 and a two-hundred day moving average of $146.58. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.48 and a quick ratio of 1.24. The stock has a market cap of $397.12 billion, a P/E ratio of 23.72, a PEG ratio of 3.04 and a beta of 0.69. Johnson & Johnson has a 1-year low of $109.16 and a 1-year high of $157.00.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Sunday, October 18th. The company reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.22. Johnson & Johnson had a return on equity of 34.64% and a net margin of 21.01%. The firm had revenue of $21.08 billion during the quarter, compared to the consensus estimate of $20.15 billion. During the same quarter in the prior year, the business posted $2.12 earnings per share. Johnson & Johnson’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, equities analysts expect that Johnson & Johnson will post 7.99 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Tuesday, November 24th will be paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Monday, November 23rd. Johnson & Johnson’s dividend payout ratio (DPR) is currently 46.54%.

Johnson & Johnson Company Profile

Johnson & Johnson researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DR.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)