The Tradition Capital Management LLC Reduces Position in Johnson & Johnson (JNJ)

The Tradition Capital Management LLC Reduces Position in Johnson & Johnson (JNJ)

Tradition Capital Management LLC decreased its position in shares of Johnson & Johnson (NYSE:JNJ) by 14.7% during the second quarter, Holdings Channel reports. The fund owned 56,323 shares of the company’s stock after selling 9,694 shares during the period. Johnson & Johnson makes up about 2.3% of Tradition Capital Management LLC’s investment portfolio, making the stock its 6th largest position. Tradition Capital Management LLC’s holdings in Johnson & Johnson were worth $6,832,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Americafirst Capital Management LLC bought a new stake in Johnson & Johnson during the second quarter worth about $101,000. INR Advisory Services LLC acquired a new position in Johnson & Johnson during the second quarter valued at approximately $150,000. Capital Asset Advisory Services LLC acquired a new position in Johnson & Johnson during the second quarter valued at approximately $202,000. NewSquare Capital LLC boosted its position in Johnson & Johnson by 4.9% in the second quarter. NewSquare Capital LLC now owns 1,791 shares of the company’s stock valued at $217,000 after buying an additional 83 shares during the last quarter. Finally, Shayne & CO. LLC acquired a new position in Johnson & Johnson during the second quarter valued at approximately $219,000. Institutional investors own 65.32% of the company’s stock.

Johnson & Johnson (NYSE:JNJ) traded down 0.1148% during mid-day trading on Wednesday, hitting $118.6836. The company had a trading volume of 2,744,686 shares. The firm has a market capitalization of $324.70 billion, a PE ratio of 22.1177 and a beta of 0.62. Johnson & Johnson has a 1-year low of $93.44 and a 1-year high of $126.07. The company has a 50 day moving average of $119.00 and a 200 day moving average of $116.96.

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

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 23rd were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend was Friday, August 19th. Johnson & Johnson’s dividend payout ratio is presently 60.15%.

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

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

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. The Company’s segments include Consumer, Pharmaceutical and Medical Devices. The Consumer segment includes a range of products used in the baby care, oral care, skin care, over-the-counter pharmaceutical, women’s health and wound care markets.

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