Toronto Dominion Bank Sells 405,791 Shares of Johnson & Johnson (NYSE:JNJ)

Toronto Dominion Bank lowered its holdings in Johnson & Johnson (NYSE:JNJ) by 33.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 791,523 shares of the company’s stock after selling 405,791 shares during the period. Toronto Dominion Bank’s holdings in Johnson & Johnson were worth $128,274,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in JNJ. Vinva Investment Management Ltd boosted its holdings in shares of Johnson & Johnson by 6.8% during the 3rd quarter. Vinva Investment Management Ltd now owns 111,448 shares of the company’s stock valued at $17,988,000 after buying an additional 7,110 shares in the last quarter. Financial Counselors Inc. increased its holdings in shares of Johnson & Johnson by 5.3% in the 3rd quarter. Financial Counselors Inc. now owns 185,093 shares of the company’s stock worth $29,996,000 after purchasing an additional 9,309 shares in the last quarter. Meridian Financial Partners LLC purchased a new stake in shares of Johnson & Johnson during the second quarter valued at $1,626,000. Meridian Investment Counsel Inc. grew its stake in shares of Johnson & Johnson by 19.6% in the third quarter. Meridian Investment Counsel Inc. now owns 22,629 shares of the company’s stock worth $3,667,000 after acquiring an additional 3,710 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in 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 valued at $2,858,543,000 after purchasing an additional 102,502 shares during the period. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Down 0.2 %

Shares of NYSE:JNJ opened at $149.26 on Wednesday. The business’s 50 day moving average is $157.84 and its 200 day moving average is $156.40. The stock has a market cap of $359.35 billion, a P/E ratio of 21.60, a price-to-earnings-growth ratio of 2.66 and a beta of 0.51. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85. 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 announced its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 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 firm had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. During the same quarter last year, the firm posted $2.66 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. Sell-side analysts predict that Johnson & Johnson will post 9.93 EPS for the current year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th were given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date was Tuesday, November 26th. Johnson & Johnson’s payout ratio is currently 71.78%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on JNJ shares. Morgan Stanley increased their price objective on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Wolfe Research initiated coverage on Johnson & Johnson in a report on Friday, November 15th. They set an “outperform” rating and a $190.00 price target for the company. Bank of America reissued a “neutral” rating and issued a $166.00 target price on shares of Johnson & Johnson in a report on Tuesday. Finally, Citigroup boosted their target price on shares of Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $175.40.

Johnson & Johnson Company 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.