KCM Investment Advisors LLC Decreases Stock Position in Johnson & Johnson (NYSE:JNJ)

KCM Investment Advisors LLC lessened its position in Johnson & Johnson (NYSE:JNJ) by 4.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 221,691 shares of the company’s stock after selling 9,840 shares during the quarter. Johnson & Johnson comprises 1.2% of KCM Investment Advisors LLC’s holdings, making the stock its 25th largest position. KCM Investment Advisors LLC’s holdings in Johnson & Johnson were worth $35,927,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in JNJ. Innealta Capital LLC acquired a new stake in shares of Johnson & Johnson in the second quarter valued at $27,000. Highline Wealth Partners LLC acquired a new position in Johnson & Johnson during the 3rd quarter worth $31,000. Mowery & Schoenfeld Wealth Management LLC grew its stake in Johnson & Johnson by 58.7% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after purchasing an additional 91 shares in the last quarter. Morton Brown Family Wealth LLC lifted its holdings in Johnson & Johnson by 400.0% during the 3rd quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock worth $41,000 after buying an additional 200 shares during the last quarter. Finally, MFA Wealth Advisors LLC purchased a new stake in Johnson & Johnson during the 2nd quarter worth about $43,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on JNJ shares. TD Cowen dropped their price target on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Daiwa Capital Markets cut Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Daiwa America cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Citigroup upped their price target on Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Sanford C. Bernstein upped their target price on Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $175.94.

Insider Activity at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the transaction, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. This trade represents a 22.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Price Performance

NYSE:JNJ traded up $1.23 during trading hours on Friday, reaching $153.10. The company had a trading volume of 2,107,479 shares, compared to its average volume of 6,975,723. The stock has a 50-day moving average of $161.56 and a two-hundred day moving average of $155.97. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85. The firm has a market capitalization of $368.61 billion, a PE ratio of 22.04, a PEG ratio of 2.72 and a beta of 0.53. 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 issued its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The business had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. During the same quarter in the prior year, the firm posted $2.66 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. Analysts forecast that Johnson & Johnson will post 9.93 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be issued a dividend of $1.24 per share. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.24%. Johnson & Johnson’s payout ratio is presently 71.78%.

About Johnson & Johnson

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.