MAI Capital Management Sells 84,452 Shares of Johnson & Johnson (NYSE:JNJ)

MAI Capital Management cut its holdings in Johnson & Johnson (NYSE:JNJ) by 17.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 398,046 shares of the company’s stock after selling 84,452 shares during the period. MAI Capital Management’s holdings in Johnson & Johnson were worth $64,507,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Equity Investment Corp raised its position in Johnson & Johnson by 1.2% during the third quarter. Equity Investment Corp now owns 86,613 shares of the company’s stock valued at $14,036,000 after purchasing an additional 1,004 shares during the period. Phillips Financial Management LLC boosted its holdings in shares of Johnson & Johnson by 6.7% in the 3rd quarter. Phillips Financial Management LLC now owns 1,836 shares of the company’s stock worth $298,000 after purchasing an additional 116 shares during the period. Aljian Capital Management LLC purchased a new stake in Johnson & Johnson during the 3rd quarter valued at $567,000. TrinityPoint Wealth LLC lifted its position in Johnson & Johnson by 0.6% in the third quarter. TrinityPoint Wealth LLC now owns 46,994 shares of the company’s stock worth $7,616,000 after buying an additional 295 shares during the last quarter. Finally, Clarkston Capital Partners LLC increased its position in Johnson & Johnson by 1.3% during the third quarter. Clarkston Capital Partners LLC now owns 123,157 shares of the company’s stock valued at $19,959,000 after acquiring an additional 1,632 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Up 1.4 %

Shares of JNJ opened at $154.00 on Monday. The company has a market capitalization of $370.77 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 2.74 and a beta of 0.53. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85. The stock’s 50-day moving average price is $161.35 and its 200-day moving average price is $156.13. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.21 by $0.21. The business had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.66 EPS. On average, sell-side analysts predict that Johnson & Johnson will post 9.93 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be given a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.22%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 71.78%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Guggenheim lifted their price target on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Daiwa Capital Markets lowered Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $160.00 to $150.00 in a research note on Tuesday, July 23rd. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Morgan Stanley boosted their target price on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada lifted their price objective on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus price target of $175.94.

Insider Activity

In other news, VP Robert J. Decker sold 5,635 shares of the company’s 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 of the company’s stock, valued at $3,131,683.38. This represents a 22.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.16% of the company’s stock.

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.