Cito Capital Group LLC Cuts Position in Johnson & Johnson (NYSE:JNJ)

Cito Capital Group LLC trimmed its position in shares of Johnson & Johnson (NYSE:JNJ) by 6.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,468 shares of the company’s stock after selling 1,000 shares during the period. Johnson & Johnson comprises about 1.1% of Cito Capital Group LLC’s portfolio, making the stock its 16th biggest position. Cito Capital Group LLC’s holdings in Johnson & Johnson were worth $2,337,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in JNJ. Nordea Investment Management AB increased its stake in shares of Johnson & Johnson by 102.3% during the third quarter. Nordea Investment Management AB now owns 19,399,590 shares of the company’s stock worth $3,189,681,000 after buying an additional 9,808,798 shares during the period. Amundi purchased a new stake in shares of Johnson & Johnson during the second quarter worth approximately $911,021,000. BlackRock Inc. increased its stake in Johnson & Johnson by 1.9% in the third quarter. BlackRock Inc. now owns 195,038,467 shares of the company’s stock valued at $31,498,715,000 after purchasing an additional 3,653,357 shares during the last quarter. Franklin Resources Inc. increased its stake in Johnson & Johnson by 15.8% in the second quarter. Franklin Resources Inc. now owns 16,118,269 shares of the company’s stock valued at $2,655,321,000 after purchasing an additional 2,197,757 shares during the last quarter. Finally, State Street Corp increased its stake in Johnson & Johnson by 1.3% in the second quarter. State Street Corp now owns 142,047,884 shares of the company’s stock valued at $23,400,968,000 after purchasing an additional 1,777,289 shares during the last quarter. Hedge funds and other institutional investors own 67.48% of the company’s stock.

Shares of NYSE JNJ traded down $0.75 during mid-day trading on Friday, hitting $168.01. 170,233 shares of the company were exchanged, compared to its average volume of 6,336,759. The company has a quick ratio of 1.11, a current ratio of 1.34 and a debt-to-equity ratio of 0.43. The stock has a 50 day simple moving average of $165.94 and a 200-day simple moving average of $167.40. Johnson & Johnson has a 1-year low of $151.47 and a 1-year high of $179.92. The firm has a market cap of $442.30 billion, a price-to-earnings ratio of 25.08, a price-to-earnings-growth ratio of 2.36 and a beta of 0.74.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Monday, October 18th. The company reported $2.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.35 by $0.25. Johnson & Johnson had a return on equity of 37.90% and a net margin of 19.55%. The firm had revenue of $23.34 billion during the quarter, compared to the consensus estimate of $23.72 billion. During the same period last year, the company earned $2.20 earnings per share. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. Analysts anticipate that Johnson & Johnson will post 9.8 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 8th. Investors of record on Tuesday, February 22nd will be issued a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Friday, February 18th. Johnson & Johnson’s dividend payout ratio is presently 63.38%.

In related news, CAO Robert J. Decker sold 5,000 shares of the stock in a transaction on Tuesday, December 7th. The stock was sold at an average price of $163.21, for a total transaction of $816,050.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is owned by company insiders.

Several brokerages have commented on JNJ. Zacks Investment Research upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and set a $172.00 price target on the stock in a research note on Friday, October 22nd. The Goldman Sachs Group began coverage on shares of Johnson & Johnson in a research note on Friday, December 17th. They issued a “neutral” rating and a $161.00 price target on the stock. Citigroup reiterated a “buy” rating and issued a $195.00 price target (up from $192.00) on shares of Johnson & Johnson in a research note on Wednesday, December 15th. Wells Fargo & Company reiterated a “buy” rating on shares of Johnson & Johnson in a research note on Thursday, October 7th. Finally, Raymond James lowered their target price on shares of Johnson & Johnson from $183.00 to $178.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 20th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $186.00.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer Health, Pharmaceutical, and Medical Devices. The Consumer Health segment includes products used in the baby care, oral care, beauty, over-the-counter pharmaceutical, women’s health, and wound care markets.

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

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