Klingenstein Fields & Co. LP Has $39.70 Million Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Klingenstein Fields & Co. LP trimmed its position in shares of Johnson & Johnson (NYSE:JNJ) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 244,972 shares of the company’s stock after selling 2,038 shares during the period. Johnson & Johnson comprises approximately 1.6% of Klingenstein Fields & Co. LP’s portfolio, making the stock its 21st biggest holding. Klingenstein Fields & Co. LP’s holdings in Johnson & Johnson were worth $39,700,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Innealta Capital LLC bought a new position in Johnson & Johnson during the second quarter valued at about $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Johnson & Johnson in the third quarter valued at about $31,000. Mowery & Schoenfeld Wealth Management LLC grew its position in shares of Johnson & Johnson by 58.7% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after purchasing an additional 91 shares during the last quarter. Morton Brown Family Wealth LLC grew its position in shares of Johnson & Johnson by 400.0% in the third quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock valued at $41,000 after purchasing an additional 200 shares during the last quarter. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of Johnson & Johnson in the second quarter valued at about $43,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the sale, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on JNJ shares. Morgan Stanley raised their price target on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a report on Wednesday, October 16th. Citigroup lifted their price objective on Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, TD Securities decreased their price objective on Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and an average price target of $175.93.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $158.24 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The firm has a 50 day moving average of $163.18 and a 200-day moving average of $155.68. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85. The stock has a market capitalization of $380.98 billion, a P/E ratio of 22.90, a price-to-earnings-growth ratio of 2.84 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The firm had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. During the same quarter in the previous year, the company posted $2.66 EPS. Johnson & Johnson’s revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Johnson & Johnson will post 9.94 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s payout ratio is 71.78%.

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.