Nexus Investment Management Inc. reduced its holdings in Johnson & Johnson (NYSE:JNJ) by 21.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,712 shares of the company’s stock after selling 1,564 shares during the quarter. Nexus Investment Management Inc.’s holdings in Johnson & Johnson were worth $749,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in JNJ. Kessler Investment Group LLC acquired a new position in Johnson & Johnson in the 4th quarter valued at approximately $29,000. Exchange Traded Concepts LLC bought a new stake in shares of Johnson & Johnson during the 4th quarter worth $31,000. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of Johnson & Johnson during the 4th quarter worth $31,000. Advocacy Wealth Management Services LLC boosted its holdings in Johnson & Johnson by 38.2% in the 1st quarter. Advocacy Wealth Management Services LLC now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 83 shares during the period. Finally, NWK Group Inc. bought a new stake in Johnson & Johnson in the 4th quarter valued at $61,000. Institutional investors and hedge funds own 69.30% of the company’s stock.
In related news, Director William D. Perez acquired 500 shares of the firm’s stock in a transaction on Friday, March 13th. The shares were purchased at an average price of $127.69 per share, with a total value of $63,845.00. Following the acquisition, the director now directly owns 16,030 shares in the company, valued at $2,046,870.70. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Michael E. Sneed sold 58,128 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $149.39, for a total transaction of $8,683,741.92. Following the sale, the chief operating officer now directly owns 107,511 shares in the company, valued at approximately $16,061,068.29. The disclosure for this sale can be found here. 0.27% of the stock is owned by corporate insiders.
Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.01. The business had revenue of $20.75 billion during the quarter, compared to analysts’ expectations of $20.83 billion. Johnson & Johnson had a net margin of 22.18% and a return on equity of 39.27%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the company posted $1.97 EPS. On average, research analysts predict that Johnson & Johnson will post 8.94 EPS for the current fiscal year.
A number of brokerages have weighed in on JNJ. Barclays raised shares of Johnson & Johnson from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $140.00 to $173.00 in a report on Thursday, December 19th. Raymond James increased their price target on shares of Johnson & Johnson from $147.00 to $161.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Credit Suisse Group reduced their price target on shares of Johnson & Johnson from $170.00 to $159.00 and set an “outperform” rating for the company in a report on Friday, March 6th. Morgan Stanley reduced their price target on shares of Johnson & Johnson from $170.00 to $160.00 and set an “overweight” rating for the company in a report on Friday, March 27th. Finally, Argus restated a “buy” rating and issued a $155.00 price objective (down previously from $165.00) on shares of Johnson & Johnson in a research note on Friday, March 27th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Johnson & Johnson currently has an average rating of “Buy” and an average price target of $157.50.
About Johnson & Johnson
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.
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