Today: The Becker Capital Management Inc. Reduced the position of Johnson & Johnson (JNJ)

The Becker Capital Management Inc. Reduced the position of Johnson & Johnson (JNJ)

Becker Capital Management Inc. decreased its stake in shares of Johnson & Johnson (NYSE:JNJ) by 21.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 388,065 shares of the company’s stock after selling 105,888 shares during the period. Johnson & Johnson makes up approximately 1.9% of Becker Capital Management Inc.’s holdings, making the stock its 12th largest position. Becker Capital Management Inc.’s holdings in Johnson & Johnson were worth $47,072,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in JNJ. World Asset Management Inc increased its stake in Johnson & Johnson by 0.7% in the second quarter. World Asset Management Inc now owns 268,941 shares of the company’s stock valued at $32,623,000 after buying an additional 1,868 shares during the last quarter. West Coast Financial LLC increased its stake in Johnson & Johnson by 53.8% in the second quarter. West Coast Financial LLC now owns 10,640 shares of the company’s stock valued at $1,291,000 after buying an additional 3,720 shares during the last quarter. Carnegie Capital Asset Management LLC increased its stake in Johnson & Johnson by 15.1% in the second quarter. Carnegie Capital Asset Management LLC now owns 90,317 shares of the company’s stock valued at $11,271,000 after buying an additional 11,874 shares during the last quarter. Peak Asset Management LLC increased its stake in Johnson & Johnson by 12.6% in the second quarter. Peak Asset Management LLC now owns 14,120 shares of the company’s stock valued at $1,713,000 after buying an additional 1,578 shares during the last quarter. Finally, Mizuho Trust & Banking Co. Ltd. increased its stake in Johnson & Johnson by 0.6% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 4,533,495 shares of the company’s stock valued at $549,913,000 after buying an additional 25,135 shares during the last quarter. 65.32% of the stock is currently owned by institutional investors.

Johnson & Johnson (NYSE:JNJ) traded up 0.41% on Friday, hitting $119.24. The stock had a trading volume of 4,799,292 shares. The firm has a market cap of $326.23 billion, a price-to-earnings ratio of 22.22 and a beta of 0.62. Johnson & Johnson has a one year low of $94.12 and a one year high of $126.07. The company’s 50-day moving average price is $118.85 and its 200 day moving average price is $117.07.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, July 19th. The company reported $1.74 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.06. The business earned $18.50 billion during the quarter, compared to the consensus estimate of $17.98 billion. Johnson & Johnson had a return on equity of 24.70% and a net margin of 20.97%. Analysts expect that Johnson & Johnson will post $6.69 earnings per share for the current year.

Several analysts have weighed in on the company. Leerink Swann reiterated a “buy” rating on shares of Johnson & Johnson in a research note on Sunday, September 11th. Wells Fargo & Co. restated a “buy” rating on shares of Johnson & Johnson in a research note on Monday, July 11th. BMO Capital Markets restated an “outperform” rating and issued a $132.00 target price on shares of Johnson & Johnson in a research note on Wednesday, July 20th. Jefferies Group upped their target price on Johnson & Johnson from $113.00 to $119.00 and gave the stock a “hold” rating in a research note on Thursday, August 4th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $142.00 target price (up previously from $125.00) on shares of Johnson & Johnson in a research note on Thursday, July 21st. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $120.19.

In other news, VP Dominic J. Caruso sold 41,146 shares of the company’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $125.01, for a total transaction of $5,143,661.46. Following the completion of the sale, the vice president now directly owns 157,819 shares in the company, valued at approximately $19,728,953.19. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Ronald A. Kapusta sold 2,935 shares of the company’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $125.01, for a total value of $366,904.35. Following the sale, the chief accounting officer now owns 28,660 shares of the company’s stock, valued at $3,582,786.60. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.

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