Johnson & Johnson (NYSE:JNJ) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lessened its position in Johnson & Johnson (NYSE:JNJ) by 5.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 437,540 shares of the company’s stock after selling 27,356 shares during the period. Johnson & Johnson makes up 1.0% of Kornitzer Capital Management Inc. KS’s investment portfolio, making the stock its 9th largest holding. Kornitzer Capital Management Inc. KS’s holdings in Johnson & Johnson were worth $56,609,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Johnson & Johnson by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 225,158,988 shares of the company’s stock valued at $31,360,143,000 after acquiring an additional 1,627,370 shares in the last quarter. Phocas Financial Corp. increased its holdings in Johnson & Johnson by 999,928.6% during the 2nd quarter. Phocas Financial Corp. now owns 125,173,583 shares of the company’s stock valued at $174,342,000 after acquiring an additional 125,161,066 shares in the last quarter. Northern Trust Corp increased its holdings in Johnson & Johnson by 0.9% during the 2nd quarter. Northern Trust Corp now owns 35,255,462 shares of the company’s stock valued at $4,910,381,000 after acquiring an additional 313,073 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Johnson & Johnson by 11.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 20,791,713 shares of the company’s stock valued at $2,895,870,000 after acquiring an additional 2,204,757 shares in the last quarter. Finally, Morgan Stanley increased its holdings in Johnson & Johnson by 0.6% during the 2nd quarter. Morgan Stanley now owns 19,995,067 shares of the company’s stock valued at $2,784,913,000 after acquiring an additional 122,033 shares in the last quarter. Institutional investors own 72.22% of the company’s stock.

Shares of NYSE JNJ traded down $0.51 during midday trading on Tuesday, reaching $131.47. 2,482,874 shares of the stock were exchanged, compared to its average volume of 8,718,446. The company has a market capitalization of $350.04 billion, a P/E ratio of 16.07, a P/E/G ratio of 2.25 and a beta of 0.69. Johnson & Johnson has a 52-week low of $121.00 and a 52-week high of $148.99. The company has a current ratio of 1.26, a quick ratio of 1.00 and a debt-to-equity ratio of 0.46. The stock has a 50 day moving average price of $130.89 and a 200-day moving average price of $134.00.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, October 15th. The company reported $2.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.00 by $0.12. Johnson & Johnson had a net margin of 21.09% and a return on equity of 39.81%. The business had revenue of $20.73 billion for the quarter, compared to analysts’ expectations of $20.14 billion. During the same period last year, the company earned $2.05 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. On average, analysts forecast that Johnson & Johnson will post 8.65 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be given a $0.95 dividend. The ex-dividend date is Monday, November 25th. This represents a $3.80 annualized dividend and a dividend yield of 2.89%. Johnson & Johnson’s dividend payout ratio is presently 46.45%.

JNJ has been the subject of a number of recent research reports. Royal Bank of Canada reiterated a “buy” rating on shares of Johnson & Johnson in a report on Tuesday, July 16th. Credit Suisse Group lifted their price target on shares of Johnson & Johnson from $158.00 to $163.00 in a report on Thursday, October 24th. Sanford C. Bernstein upgraded shares of Johnson & Johnson from a “market perform” rating to an “outperform” rating and set a $155.00 price target for the company in a report on Friday, October 11th. Zacks Investment Research upgraded shares of Johnson & Johnson from a “sell” rating to a “hold” rating and set a $142.00 price target for the company in a report on Thursday, October 17th. Finally, Atlantic Securities upgraded shares of Johnson & Johnson from an “underweight” rating to a “neutral” rating in a report on Wednesday, October 16th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Johnson & Johnson presently has an average rating of “Buy” and an average price target of $151.64.

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: Equal Weight Rating

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

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