Rockefeller Capital Management L.P. Sells 41,252 Shares of Johnson & Johnson (NYSE:JNJ)

Rockefeller Capital Management L.P. decreased its position in Johnson & Johnson (NYSE:JNJ) by 5.6% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 689,250 shares of the company’s stock after selling 41,252 shares during the period. Rockefeller Capital Management L.P.’s holdings in Johnson & Johnson were worth $111,686,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Providence Wealth Advisors LLC increased its stake in Johnson & Johnson by 1.5% in the 3rd quarter. Providence Wealth Advisors LLC now owns 9,585 shares of the company’s stock valued at $1,569,000 after buying an additional 145 shares during the last quarter. Isthmus Partners LLC increased its position in shares of Johnson & Johnson by 1.8% in the third quarter. Isthmus Partners LLC now owns 97,495 shares of the company’s stock valued at $15,800,000 after acquiring an additional 1,765 shares during the last quarter. Suvretta Capital Management LLC boosted its position in Johnson & Johnson by 53.7% during the third quarter. Suvretta Capital Management LLC now owns 138,447 shares of the company’s stock valued at $22,437,000 after purchasing an additional 48,350 shares during the last quarter. Teachers Insurance & Annuity Association of America bought a new position in Johnson & Johnson in the third quarter valued at approximately $149,000. Finally, Pin Oak Investment Advisors Inc. increased its position in shares of Johnson & Johnson by 1.2% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 6,895 shares of the company’s stock worth $1,117,000 after purchasing an additional 82 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $155.40 on Friday. The firm has a market cap of $374.14 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 2.76 and a beta of 0.53. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. The stock’s fifty day moving average price is $159.33 and its two-hundred day moving average price is $156.38. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. The company had revenue of $22.47 billion for the quarter, compared to analysts’ expectations of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. Johnson & Johnson’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business earned $2.66 earnings per share. As a group, research analysts expect that Johnson & Johnson will post 9.93 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be given a dividend of $1.24 per share. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 annualized dividend and a dividend yield of 3.19%. Johnson & Johnson’s dividend payout ratio is 71.78%.

Analyst Upgrades and Downgrades

JNJ has been the subject of several analyst reports. Royal Bank of Canada raised their target price on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Wolfe Research assumed coverage on Johnson & Johnson in a report on Friday, November 15th. They set an “outperform” rating and a $190.00 price target for the company. Morgan Stanley upped their price objective on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Citigroup lifted their target price on Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $175.94.

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.