Welch & Forbes LLC cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 724,328 shares of the company’s stock after selling 3,171 shares during the period. Johnson & Johnson accounts for about 2.7% of Welch & Forbes LLC’s investment portfolio, making the stock its 2nd largest position. Welch & Forbes LLC’s holdings in Johnson & Johnson were worth $87,862,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in JNJ. Bank of Montreal Can bought a new position in Johnson & Johnson during the second quarter worth approximately $858,505,000. Investec Asset Management LTD raised its position in Johnson & Johnson by 49.2% in the first quarter. Investec Asset Management LTD now owns 5,050,411 shares of the company’s stock worth $546,454,000 after buying an additional 1,665,644 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Johnson & Johnson by 2.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 73,530,716 shares of the company’s stock worth $7,956,023,000 after buying an additional 1,546,408 shares in the last quarter. Artemis Investment Management LLP raised its position in Johnson & Johnson by 430.5% in the second quarter. Artemis Investment Management LLP now owns 1,902,486 shares of the company’s stock worth $230,762,000 after buying an additional 1,543,842 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its position in Johnson & Johnson by 12.5% in the first quarter. TIAA CREF Investment Management LLC now owns 13,848,797 shares of the company’s stock worth $1,498,440,000 after buying an additional 1,534,277 shares in the last quarter. Institutional investors own 65.32% of the company’s stock.
Shares of Johnson & Johnson (NYSE:JNJ) traded down 1.540% on Tuesday, reaching $117.955. 2,246,125 shares of the company traded hands. The stock has a 50 day moving average of $118.85 and a 200 day moving average of $117.29. Johnson & Johnson has a 52-week low of $94.12 and a 52-week high of $126.07. The stock has a market cap of $322.71 billion, a price-to-earnings ratio of 21.982 and a beta of 0.62.
Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, July 19th. The company reported $1.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.06. Johnson & Johnson had a net margin of 20.97% and a return on equity of 24.70%. The business earned $18.50 billion during the quarter, compared to analysts’ expectations of $17.98 billion. On average, analysts expect that Johnson & Johnson will post $6.69 earnings per share for the current year.
JNJ has been the topic of several recent research reports. Goldman Sachs Group Inc. set a $121.00 price target on shares of Johnson & Johnson and gave the stock a “neutral” rating in a research report on Monday, June 13th. Jefferies Group restated a “hold” rating and issued a $109.00 price target (up previously from $108.00) on shares of Johnson & Johnson in a research report on Tuesday, June 14th. Barclays PLC restated an “overweight” rating and issued a $125.00 price target (up previously from $120.00) on shares of Johnson & Johnson in a research report on Sunday, July 10th. Wells Fargo & Co. restated a “buy” rating on shares of Johnson & Johnson in a research report on Monday, July 11th. Finally, Royal Bank Of Canada lifted their price target on shares of Johnson & Johnson from $125.00 to $133.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 20th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $120.19.
In related news, VP Dominic J. Caruso sold 41,146 shares of the stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $125.01, for a total transaction of $5,143,661.46. Following the completion of the transaction, the vice president now owns 157,819 shares in the company, valued at $19,728,953.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Ronald A. Kapusta sold 2,935 shares of the stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $125.01, for a total transaction of $366,904.35. Following the transaction, the chief accounting officer now owns 28,660 shares of the company’s stock, valued at approximately $3,582,786.60. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.
About Johnson & Johnson
Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. The Company’s segments include Consumer, Pharmaceutical and Medical Devices. The Consumer segment includes a range of products used in the baby care, oral care, skin care, over-the-counter pharmaceutical, women’s health and wound care markets.
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