Johnson & Johnson (JNJ) Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. reduced its position in Johnson & Johnson (NYSE:JNJ) by 7.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 176,436 shares of the company’s stock after selling 14,265 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Johnson & Johnson were worth $21,409,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in JNJ. Gardner Russo & Gardner LLC boosted its position in shares of Johnson & Johnson by 30.4% during the first quarter. Gardner Russo & Gardner LLC now owns 1,715 shares of the company’s stock worth $220,000 after buying an additional 400 shares during the period. Diamant Asset Management Inc. boosted its position in shares of Johnson & Johnson by 1.3% during the second quarter. Diamant Asset Management Inc. now owns 31,130 shares of the company’s stock worth $3,777,000 after buying an additional 400 shares during the period. Spectrum Management Group Inc. boosted its position in shares of Johnson & Johnson by 2.8% during the first quarter. Spectrum Management Group Inc. now owns 14,841 shares of the company’s stock worth $1,902,000 after buying an additional 410 shares during the period. Hodges Capital Management Inc. boosted its position in shares of Johnson & Johnson by 0.8% during the first quarter. Hodges Capital Management Inc. now owns 54,284 shares of the company’s stock worth $6,956,000 after buying an additional 417 shares during the period. Finally, Southeast Asset Advisors Inc. boosted its position in shares of Johnson & Johnson by 0.7% during the first quarter. Southeast Asset Advisors Inc. now owns 60,947 shares of the company’s stock worth $7,810,000 after buying an additional 418 shares during the period. 66.70% of the stock is owned by hedge funds and other institutional investors.

In related news, COO Michael E. Sneed sold 29,000 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $134.80, for a total transaction of $3,909,200.00. Following the sale, the chief operating officer now owns 59,124 shares of the company’s stock, valued at $7,969,915.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Ronald A. Kapusta sold 7,899 shares of the business’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $137.18, for a total value of $1,083,584.82. Following the sale, the chief accounting officer now directly owns 25,725 shares in the company, valued at approximately $3,528,955.50. The disclosure for this sale can be found here. 0.22% of the stock is owned by insiders.

Several equities analysts have recently issued reports on JNJ shares. HC Wainwright reiterated a “buy” rating on shares of Johnson & Johnson in a research report on Wednesday, October 17th. Credit Suisse Group set a $149.00 price objective on Johnson & Johnson and gave the stock a “buy” rating in a research report on Sunday, October 14th. Jefferies Financial Group set a $145.00 price objective on Johnson & Johnson and gave the stock a “buy” rating in a research report on Sunday, July 15th. ValuEngine upgraded Johnson & Johnson from a “sell” rating to a “hold” rating in a research report on Saturday, July 28th. Finally, Goldman Sachs Group upgraded Johnson & Johnson from a “sell” rating to a “neutral” rating in a research report on Thursday, July 12th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $142.54.

Shares of NYSE:JNJ opened at $139.99 on Thursday. Johnson & Johnson has a 12 month low of $118.62 and a 12 month high of $148.32. The company has a market cap of $367.48 billion, a P/E ratio of 19.18, a PEG ratio of 2.15 and a beta of 0.70. The company has a current ratio of 1.65, a quick ratio of 1.33 and a debt-to-equity ratio of 0.47.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, October 16th. The company reported $2.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.03 by $0.02. Johnson & Johnson had a return on equity of 34.97% and a net margin of 1.89%. The firm had revenue of $20.35 billion for the quarter, compared to analysts’ expectations of $20.05 billion. During the same quarter in the previous year, the company earned $1.90 earnings per share. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, analysts anticipate that Johnson & Johnson will post 8.16 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 11th. Investors of record on Tuesday, November 27th will be issued a dividend of $0.90 per share. The ex-dividend date is Monday, November 26th. This represents a $3.60 annualized dividend and a yield of 2.57%. Johnson & Johnson’s payout ratio is 49.32%.

Johnson & Johnson Profile

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. Its 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, RoC, 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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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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