Moors & Cabot Inc. Lowers Holdings in Johnson & Johnson (NYSE:JNJ)

Moors & Cabot Inc. reduced its position in shares of Johnson & Johnson (NYSE:JNJ) by 1.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 125,283 shares of the company’s stock after selling 1,649 shares during the quarter. Johnson & Johnson comprises about 1.0% of Moors & Cabot Inc.’s portfolio, making the stock its 15th biggest position. Moors & Cabot Inc.’s holdings in Johnson & Johnson were worth $18,311,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Excalibur Management Corp lifted its stake in Johnson & Johnson by 1.6% in the second quarter. Excalibur Management Corp now owns 40,514 shares of the company’s stock worth $5,921,000 after acquiring an additional 629 shares during the period. Luts & Greenleigh Group Inc. purchased a new stake in shares of Johnson & Johnson in the 2nd quarter worth approximately $1,131,000. Wulff Hansen & CO. boosted its stake in shares of Johnson & Johnson by 14,424.6% during the second quarter. Wulff Hansen & CO. now owns 1,625,299 shares of the company’s stock valued at $237,554,000 after purchasing an additional 1,614,109 shares in the last quarter. Citizens Financial Group Inc. RI increased its holdings in Johnson & Johnson by 82.8% during the second quarter. Citizens Financial Group Inc. RI now owns 180,501 shares of the company’s stock valued at $26,382,000 after buying an additional 81,780 shares during the period. Finally, One Capital Management LLC raised its stake in Johnson & Johnson by 22.2% in the second quarter. One Capital Management LLC now owns 66,330 shares of the company’s stock worth $9,695,000 after buying an additional 12,034 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $167.02 on Tuesday. The stock has a 50-day moving average of $159.98 and a two-hundred day moving average of $153.98. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. The stock has a market cap of $401.96 billion, a P/E ratio of 10.41, a P/E/G ratio of 2.71 and a beta of 0.53. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The firm had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.33 billion. During the same quarter in the prior year, the firm earned $2.80 earnings per share. Johnson & Johnson’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, research analysts predict that Johnson & Johnson will post 10.02 EPS for the current year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Daiwa Capital Markets downgraded Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their price target for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. TD Securities cut their target price on Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. TD Cowen decreased their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a research report on Tuesday, July 30th. Finally, The Goldman Sachs Group decreased their target price on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $173.21.

Insider Activity

In related news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the transaction, the vice president now directly owns 18,973 shares in the company, valued at $3,131,683.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.16% of the company’s stock.

About Johnson & Johnson

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.