Access Financial Services Inc. Reduces Position in Johnson & Johnson (NYSE:JNJ)


Access Financial Services Inc. reduced its stake in Johnson & Johnson (NYSE:JNJGet an assessment) by 0.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The company held 13,509 shares of the company after selling 61 shares during the period. Johnson & Johnson represents 1.1% of Access Financial Services Inc.’s investment portfolio, making the stock its 11th largest position. Access Financial Services Inc.’s holdings in Johnson & Johnson were worth $2,394,000 when it last filed with the SEC.

Several other large investors also changed their positions in the company. Sitrin Capital Management LLC increased its position in Johnson & Johnson shares by 0.4% in the first quarter. Sitrin Capital Management LLC now owns 40,087 shares of the company valued at $7,105,000 after purchasing an additional 151 shares during the period. Resource Consulting Group Inc. increased its position in Johnson & Johnson shares by 60.8% in the first quarter. Resource Consulting Group Inc. now owns 5,516 shares of the company valued at $978,000 after purchasing an additional 2,086 shares during the period. Chronos Wealth Management LLC increased its position in Johnson & Johnson shares by 0.9% in the first quarter. Chronos Wealth Management LLC now owns 34,590 shares of the company valued at $6,130,000 after purchasing an additional 304 shares during the period. Veracity Capital LLC increased its position in Johnson & Johnson shares by 60.2% in the first quarter. Veracity Capital LLC now owns 4,860 shares of the company valued at $861,000 after purchasing an additional 1,827 shares during the period. Finally, Mr. Kraus & Co increased its position in Johnson & Johnson shares by 0.6% in the first quarter. Mr. Kraus & Co now owns 54,151 shares of the company valued at $9,597,000 after buying 325 additional shares during the period. 68.78% of the shares are held by institutional investors and hedge funds.

A number of equity research analysts have published reports on the company. Morgan Stanley lowered its price target on Johnson & Johnson from $175.00 to $173.00 and set an “equal weight” rating for the company in a Wednesday, April 6 research report. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong buy” rating in a Tuesday, May 17 research report. Citigroup lowered its price target on Johnson & Johnson from $210.00 to $205.00 in a Tuesday, May 17 research report. Sanford C. Bernstein downgraded Johnson & Johnson from an “outperforming” rating to a “market performing” rating and raised its price target for the company from $180.00 to $183.00 in a report of research from Wednesday, March 16. Finally, Daiwa Capital Markets began covering Johnson & Johnson in a research note on Wednesday, June 22. They set an “outperformance” rating on the stock. Four analysts gave the stock a hold rating, six gave the company a buy rating and one gave the company’s stock a strong buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $190.50.

Separately, CAO Robert J. Decker sold 8,462 shares of the company in a trade dated Thursday, May 26. The stock was sold at an average price of $180.00, for a total value of $1,523,160.00. Following the completion of the sale, the chief accounting officer now directly owns 15,473 shares of the company, valued at $2,785,140. The sale was disclosed in a filing with the SEC, accessible via this link. Also, VPE Kathryn E. Wengel sold 40,000 shares of the company in a transaction dated Friday, June 10. The shares were sold at an average price of $173.00, for a total value of $6,920,000.00. Following the completion of the sale, the executive vice president now directly owns 71,311 shares of the company, valued at $12,336,803. Disclosure of this sale can be found here. In the past three months, insiders have sold 78,161 shares of the company valued at $13,895,302. 0.35% of the shares are held by insiders.

NYSE:JNJ opened at $179.52 on Monday. The company has a debt ratio of 0.39, a quick ratio of 1.14 and a current ratio of 1.39. Johnson & Johnson has a one-year low of $155.72 and a one-year high of $186.69. The company’s 50-day simple moving average is $177.37 and its 200-day simple moving average is $173.77. The stock has a market capitalization of $472.39 billion, a price-to-earnings ratio of 24.19, a growth price-to-earnings ratio of 3.55 and a beta of 0.63.

Johnson & Johnson (NYSE:JNJGet an assessment) last released its quarterly results on Tuesday, April 19. The company reported EPS of $2.67 for the quarter, beating the consensus estimate of $2.60 by $0.07. Johnson & Johnson had a return on equity of 36.59% and a net margin of 20.90%. The company posted revenue of $23.43 billion for the quarter, versus $23.62 billion expected by analysts. In the same quarter a year earlier, the firm posted earnings of $2.59 per share. The company’s revenue increased by 5.0% compared to the same quarter last year. On average, equity research analysts expect Johnson & Johnson to post EPS of 10.23 for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 7. Investors of record on Tuesday, May 24 received a dividend of $1.13. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.06. The ex-dividend date was Monday, May 23. This represents an annualized dividend of $4.52 and a dividend yield of 2.52%. Johnson & Johnson’s payout ratio is 60.92%.

Johnson & Johnson Profile (Get an assessment)

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures and sells various healthcare products worldwide. The Company’s Consumer Health segment offers baby care products under the JOHNSON’S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the brands AVEENO, CLEAN & CLEAR, DR.

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Institutional ownership by quarter for Johnson & Johnson (NYSE: JNJ)



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