Stock Yards Bank & Trust Co. Reduces Stock Position in Johnson & Johnson (NYSE:JNJ)

Stock Yards Bank & Trust Co. lessened its stake in Johnson & Johnson (NYSE:JNJ) by 5.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 275,405 shares of the company’s stock after selling 15,589 shares during the period. Johnson & Johnson makes up approximately 1.3% of Stock Yards Bank & Trust Co.’s holdings, making the stock its 19th largest position. Stock Yards Bank & Trust Co.’s holdings in Johnson & Johnson were worth $40,253,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in Johnson & Johnson during the fourth quarter valued at $4,071,642,000. Wellington Management Group LLP increased its position in shares of Johnson & Johnson by 16.4% during the 4th quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after purchasing an additional 3,391,657 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Johnson & Johnson by 16.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after purchasing an additional 3,139,499 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Johnson & Johnson by 10.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock worth $2,744,979,000 after buying an additional 1,831,751 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Johnson & Johnson by 16.2% during the second quarter. Dimensional Fund Advisors LP now owns 13,147,352 shares of the company’s stock valued at $1,921,565,000 after buying an additional 1,829,257 shares during the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $167.02 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. The firm has a market cap of $401.96 billion, a price-to-earnings ratio of 10.41, a P/E/G ratio of 2.71 and a beta of 0.53. The firm has a fifty day moving average price of $159.98 and a 200 day moving average price of $153.98. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $168.85.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. The firm had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.80 earnings per share. As a group, sell-side analysts expect that Johnson & Johnson will post 10.02 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were issued a dividend of $1.24 per share. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 annualized dividend and a dividend yield of 2.97%. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on JNJ shares. TD Securities dropped their price target on shares of Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday. Daiwa America downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group cut their price objective on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research note on Monday. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus price target of $173.21.

Insider Activity

In related news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the sale, the vice president now owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.16% of the company’s stock.

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.