Bridgewater Associates LP Sells 1,734,184 Shares of Johnson & Johnson (NYSE:JNJ)

Bridgewater Associates LP lessened its stake in Johnson & Johnson (NYSE:JNJ) by 54.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,470,121 shares of the company’s stock after selling 1,734,184 shares during the quarter. Johnson & Johnson comprises 1.3% of Bridgewater Associates LP’s investment portfolio, making the stock its 12th biggest position. Bridgewater Associates LP owned 0.06% of Johnson & Johnson worth $238,248,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its position in 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 valued at $2,744,979,000 after acquiring an additional 1,831,751 shares during the last quarter. FMR LLC grew its holdings in shares of Johnson & Johnson by 7.4% during the 3rd quarter. FMR LLC now owns 18,316,920 shares of the company’s stock valued at $2,968,440,000 after purchasing an additional 1,265,748 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Johnson & Johnson by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock worth $2,858,543,000 after purchasing an additional 102,502 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Johnson & Johnson by 5.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 14,374,397 shares of the company’s stock valued at $2,100,427,000 after purchasing an additional 754,200 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Johnson & Johnson by 16.2% in 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 in the last quarter. Institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on JNJ shares. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a report on Wednesday, October 16th. Morgan Stanley raised their target price on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Citigroup upped their price objective on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Royal Bank of Canada lifted their target price on Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus price target of $175.94.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $154.51 on Wednesday. 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 company has a fifty day moving average price of $159.73 and a 200-day moving average price of $156.39. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85. The firm has a market cap of $372.00 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 2.77 and a beta of 0.53.

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

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio is presently 71.78%.

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The trade was a 22.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company 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.