KG&L Capital Management LLC Has $3.65 Million Stake in Johnson & Johnson (NYSE:JNJ)

KG&L Capital Management LLC lowered its stake in shares of Johnson & Johnson (NYSE:JNJ) by 9.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,908 shares of the company’s stock after selling 2,592 shares during the quarter. Johnson & Johnson comprises 1.3% of KG&L Capital Management LLC’s portfolio, making the stock its 19th largest holding. KG&L Capital Management LLC’s holdings in Johnson & Johnson were worth $3,649,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JNJ. Pathway Financial Advisors LLC raised its holdings in Johnson & Johnson by 4.3% in the 4th quarter. Pathway Financial Advisors LLC now owns 5,438 shares of the company’s stock worth $852,000 after acquiring an additional 226 shares during the period. Daiwa Securities Group Inc. lifted its position in shares of Johnson & Johnson by 5.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 297,850 shares of the company’s stock worth $46,685,000 after purchasing an additional 15,490 shares during the last quarter. Drive Wealth Management LLC boosted its stake in Johnson & Johnson by 4.5% during the 1st quarter. Drive Wealth Management LLC now owns 9,625 shares of the company’s stock valued at $1,523,000 after purchasing an additional 414 shares during the period. Vestmark Advisory Solutions Inc. grew its holdings in Johnson & Johnson by 12.7% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 19,587 shares of the company’s stock valued at $3,070,000 after buying an additional 2,201 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in Johnson & Johnson by 4.9% in the 4th quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock worth $1,664,620,000 after buying an additional 498,647 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock traded down $0.05 during trading on Thursday, reaching $161.38. The company’s stock had a trading volume of 750,881 shares, compared to its average volume of 7,267,820. The stock has a 50-day moving average price of $153.21 and a two-hundred day moving average price of $153.15. The stock has a market capitalization of $388.39 billion, a P/E ratio of 10.04, a price-to-earnings-growth ratio of 2.63 and a beta of 0.52. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. Johnson & Johnson has a one year low of $143.13 and a one year high of $167.78.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The business had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.33 billion. During the same quarter last year, the business earned $2.80 earnings per share. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.07 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be given a $1.24 dividend. The ex-dividend date is Tuesday, August 27th. This represents a $4.96 annualized dividend and a dividend yield of 3.07%. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Morgan Stanley raised their price objective on shares of Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. The Goldman Sachs Group dropped their price objective on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Sanford C. Bernstein increased their target price on shares of Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a report on Tuesday, July 30th. Finally, StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $173.21.

About Johnson & Johnson

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.