Martingale Asset Management L P Has $46.01 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

Martingale Asset Management L P trimmed its stake in shares of Johnson & Johnson (NYSE:JNJ) by 13.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 283,888 shares of the company’s stock after selling 45,664 shares during the quarter. Johnson & Johnson comprises approximately 1.1% of Martingale Asset Management L P’s investment portfolio, making the stock its 9th biggest position. Martingale Asset Management L P’s holdings in Johnson & Johnson were worth $46,007,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA boosted its position in Johnson & Johnson by 10.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock worth $2,744,979,000 after purchasing an additional 1,831,751 shares during the period. FMR LLC boosted its position in Johnson & Johnson by 7.4% during the third quarter. FMR LLC now owns 18,316,920 shares of the company’s stock worth $2,968,440,000 after purchasing an additional 1,265,748 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Johnson & Johnson by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock worth $2,858,543,000 after buying an additional 102,502 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Johnson & Johnson by 5.5% during the second quarter. Ameriprise Financial Inc. now owns 14,374,397 shares of the company’s stock worth $2,100,427,000 after buying an additional 754,200 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Johnson & Johnson by 16.2% during the second quarter. Dimensional Fund Advisors LP now owns 13,147,352 shares of the company’s stock worth $1,921,565,000 after buying an additional 1,829,257 shares in the last quarter. 69.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wolfe Research assumed coverage on Johnson & Johnson in a report on Friday, November 15th. They set an “outperform” rating and a $190.00 target price for the company. Wells Fargo & Company lifted their target price on Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Citigroup lifted their target price on Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Guggenheim lifted their target price on Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Finally, Morgan Stanley boosted their price target on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $175.94.

Johnson & Johnson Stock Up 0.6 %

Shares of NYSE JNJ opened at $155.40 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The company has a market cap of $374.14 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 2.76 and a beta of 0.53. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85. The stock has a 50-day moving average price of $159.33 and a two-hundred day moving average price of $156.38.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.21 by $0.21. The firm had revenue of $22.47 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.66 earnings per share. As a group, analysts forecast that Johnson & Johnson will post 9.93 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 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.