Bank of New York Mellon Corp Has $3.17 Billion Holdings in Johnson & Johnson (NYSE:JNJ)

Bank of New York Mellon Corp lowered its stake in Johnson & Johnson (NYSE:JNJ) by 2.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 21,694,534 shares of the company’s stock after selling 450,431 shares during the quarter. Johnson & Johnson makes up approximately 0.6% of Bank of New York Mellon Corp’s portfolio, making the stock its 22nd largest holding. Bank of New York Mellon Corp’s holdings in Johnson & Johnson were worth $3,170,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in JNJ. Christopher J. Hasenberg Inc acquired a new position in shares of Johnson & Johnson during the 1st quarter worth about $31,000. MFA Wealth Advisors LLC acquired a new position in shares of Johnson & Johnson during the 2nd quarter worth about $43,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Johnson & Johnson during the 4th quarter worth about $44,000. Disciplined Equity Management Inc. acquired a new position in shares of Johnson & Johnson during the 4th quarter worth about $45,000. Finally, Grayhawk Investment Strategies Inc. raised its holdings in Johnson & Johnson by 528.6% in the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after acquiring an additional 259 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Trading Up 0.4 %

Johnson & Johnson stock traded up $0.66 during mid-day trading on Monday, hitting $164.79. 4,233,964 shares of the company’s stock were exchanged, compared to its average volume of 7,282,905. The company’s 50 day simple moving average is $153.92 and its 200-day simple moving average is $153.20. The firm has a market capitalization of $396.60 billion, a P/E ratio of 10.31, a PEG ratio of 2.63 and a beta of 0.52. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $166.21.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The company had revenue of $22.45 billion during the quarter, compared to analysts’ expectations of $22.33 billion. During the same quarter last year, the company earned $2.80 EPS. Johnson & Johnson’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, equities analysts anticipate that Johnson & Johnson will post 10.07 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 3.01%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

Wall Street Analyst Weigh In

Several equities analysts have commented on JNJ shares. The Goldman Sachs Group cut their price target on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Sanford C. Bernstein upped their price target on Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a report on Tuesday, July 30th. Daiwa America lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research report on Monday, August 5th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $173.21.

Johnson & Johnson Profile

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.