Cypress Capital Management LLC Sells 70,796 Shares of Johnson & Johnson (NYSE:JNJ)

Cypress Capital Management LLC lowered its position in shares of Johnson & Johnson (NYSE:JNJ) by 66.1% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 36,311 shares of the company’s stock after selling 70,796 shares during the quarter. Cypress Capital Management LLC’s holdings in Johnson & Johnson were worth $5,057,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Zions Bancorporation N.A. increased its holdings in Johnson & Johnson by 0.4% in the second quarter. Zions Bancorporation N.A. now owns 20,173 shares of the company’s stock valued at $2,810,000 after buying an additional 73 shares during the last quarter. Cambridge Advisors Inc. grew its holdings in shares of Johnson & Johnson by 0.3% during the fourth quarter. Cambridge Advisors Inc. now owns 22,436 shares of the company’s stock worth $2,895,000 after purchasing an additional 78 shares during the last quarter. Vishria Bird Financial Group LLC grew its holdings in shares of Johnson & Johnson by 3.0% during the second quarter. Vishria Bird Financial Group LLC now owns 2,736 shares of the company’s stock worth $381,000 after purchasing an additional 80 shares during the last quarter. Burt Wealth Advisors grew its holdings in shares of Johnson & Johnson by 0.6% during the fourth quarter. Burt Wealth Advisors now owns 12,898 shares of the company’s stock worth $1,665,000 after purchasing an additional 82 shares during the last quarter. Finally, Timber Creek Capital Management LLC grew its holdings in shares of Johnson & Johnson by 8.7% during the fourth quarter. Timber Creek Capital Management LLC now owns 1,035 shares of the company’s stock worth $133,000 after purchasing an additional 83 shares during the last quarter. 72.12% of the stock is owned by institutional investors.

JNJ stock opened at $131.30 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.04 and a current ratio of 1.33. The stock has a market capitalization of $341.90 billion, a P/E ratio of 16.05, a PEG ratio of 2.19 and a beta of 0.68. The company has a 50 day moving average price of $130.11 and a two-hundred day moving average price of $135.97. Johnson & Johnson has a one year low of $121.00 and a one year high of $148.99.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, July 16th. The company reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.16. The firm had revenue of $20.56 billion for the quarter, compared to analyst estimates of $20.39 billion. Johnson & Johnson had a net margin of 20.08% and a return on equity of 38.63%. The firm’s revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.10 EPS. Research analysts forecast that Johnson & Johnson will post 8.6 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were given a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.89%. The ex-dividend date was Monday, August 26th. Johnson & Johnson’s payout ratio is currently 46.45%.

JNJ has been the topic of several research reports. Morgan Stanley reaffirmed an “equal weight” rating and set a $145.00 price objective on shares of Johnson & Johnson in a report on Tuesday, August 27th. Zacks Investment Research downgraded shares of Johnson & Johnson from a “buy” rating to a “hold” rating and set a $139.00 target price for the company. in a research note on Thursday, July 18th. Raymond James decreased their target price on shares of Johnson & Johnson from $147.00 to $146.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Goldman Sachs Group set a $169.00 price objective on shares of Johnson & Johnson and gave the company a “buy” rating in a research report on Tuesday, August 27th. Finally, Bank of America restated a “hold” rating and issued a $150.00 price objective on shares of Johnson & Johnson in a research report on Tuesday, July 16th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $150.60.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, 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, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.

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

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