Rockefeller Capital Management L.P. Has $111.69 Million Position in Johnson & Johnson (NYSE:JNJ)

Rockefeller Capital Management L.P. decreased its stake in Johnson & Johnson (NYSE:JNJ) by 5.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 689,250 shares of the company’s stock after selling 41,252 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Johnson & Johnson were worth $111,686,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Innealta Capital LLC bought a new stake in Johnson & Johnson during the 2nd quarter worth $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Johnson & Johnson during the third quarter valued at about $31,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Johnson & Johnson during the third quarter worth about $35,000. Mowery & Schoenfeld Wealth Management LLC increased its stake in shares of Johnson & Johnson by 58.7% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after buying an additional 91 shares during the period. Finally, Activest Wealth Management bought a new position in Johnson & Johnson in the 3rd quarter valued at approximately $40,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Wolfe Research started coverage on shares of Johnson & Johnson in a research report on Friday, November 15th. They issued an “outperform” rating and a $190.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Guggenheim upped their price target on Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Royal Bank of Canada raised their price objective on Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. 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 stock. According to data from MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and an average target price of $175.94.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock opened at $155.40 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85. The business has a 50-day simple moving average of $159.33 and a 200 day simple moving average of $156.38. The firm has a market capitalization 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 (NYSE:JNJ) last issued its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The company had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. During the same period in the prior year, the firm earned $2.66 earnings per share. Johnson & Johnson’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, research analysts anticipate that Johnson & Johnson will post 9.93 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be issued a $1.24 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.19%. Johnson & Johnson’s dividend 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.