Oak Asset Management LLC Lowers Stock Holdings in Johnson & Johnson (NYSE:JNJ)

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Oak Asset Management LLC lessened its stake in shares of Johnson & Johnson (NYSE:JNJ) by 1.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,774 shares of the company’s stock after selling 230 shares during the quarter. Johnson & Johnson comprises approximately 2.0% of Oak Asset Management LLC’s portfolio, making the stock its 14th biggest position. Oak Asset Management LLC’s holdings in Johnson & Johnson were worth $3,343,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of JNJ. Geode Capital Management LLC grew its holdings in Johnson & Johnson by 1.5% during the first quarter. Geode Capital Management LLC now owns 38,965,156 shares of the company’s stock worth $5,100,421,000 after acquiring an additional 572,077 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Johnson & Johnson by 3.2% during the 4th quarter. Bank of New York Mellon Corp now owns 32,846,195 shares of the company’s stock worth $4,791,274,000 after purchasing an additional 1,021,877 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Johnson & Johnson by 10.8% during the 1st quarter. Wellington Management Group LLP now owns 30,556,662 shares of the company’s stock worth $4,006,895,000 after purchasing an additional 2,968,879 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Johnson & Johnson by 7.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 29,526,058 shares of the company’s stock valued at $3,871,753,000 after purchasing an additional 2,118,870 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Johnson & Johnson in the fourth quarter valued at about $4,139,107,000. 68.51% of the stock is owned by hedge funds and other institutional investors.

JNJ stock traded down $1.43 during midday trading on Thursday, hitting $141.84. The stock had a trading volume of 1,350,570 shares, compared to its average volume of 7,245,217. Johnson & Johnson has a 12-month low of $109.16 and a 12-month high of $157.00. The firm has a market cap of $377.46 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 3.11 and a beta of 0.69. The company’s 50-day moving average price is $143.95 and its 200 day moving average price is $143.96. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 1.05.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, April 14th. The company reported $2.30 EPS for the quarter, beating the Zacks’ consensus estimate of $2.03 by $0.27. Johnson & Johnson had a return on equity of 39.71% and a net margin of 24.47%. The business had revenue of $20.69 billion during the quarter, compared to the consensus estimate of $19.48 billion. During the same quarter in the previous year, the business earned $2.10 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Johnson & Johnson will post 7.7 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 26th were paid a dividend of $1.01 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.85%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $0.95. Johnson & Johnson’s dividend payout ratio is currently 46.54%.

A number of research analysts have issued reports on the stock. Stifel Nicolaus increased their target price on shares of Johnson & Johnson from $140.00 to $155.00 and gave the company a “hold” rating in a report on Wednesday, April 15th. Citigroup lifted their price objective on Johnson & Johnson from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. Bank of America raised Johnson & Johnson from a “neutral” rating to a “buy” rating and upped their target price for the company from $150.00 to $175.00 in a report on Wednesday, April 22nd. Zacks Investment Research downgraded Johnson & Johnson from a “hold” rating to a “sell” rating and set a $150.00 price target for the company. in a research note on Tuesday. Finally, Wells Fargo & Co upgraded shares of Johnson & Johnson to a “hold” rating in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company’s stock. Johnson & Johnson currently has a consensus rating of “Buy” and a consensus target price of $162.93.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.

Further Reading: Sell-Side Analysts

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

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