Destination Wealth Management Lowers stake in Johnson & Johnson (JNJ)

Johnson & Johnson (JNJ) : Destination Wealth Management reduced its stake in Johnson & Johnson by 0.58% during the most recent quarter end. The investment management company now holds a total of 168,983 shares of Johnson & Johnson which is valued at $21,084,009 after selling 982 shares in Johnson & Johnson , the firm said in a disclosure report filed with the SEC on Jul 25, 2016.Johnson & Johnson makes up approximately 1.69% of Destination Wealth Management’s portfolio.

Other Hedge Funds, Including , High Point Bank Trust Co boosted its stake in JNJ in the latest quarter, The investment management firm added 250 additional shares and now holds a total of 14,307 shares of Johnson & Johnson which is valued at $1,785,084. Johnson & Johnson makes up approx 0.49% of High Point Bank Trust Co’s portfolio.Keystone Financial Planning boosted its stake in JNJ in the latest quarter, The investment management firm added 441 additional shares and now holds a total of 33,238 shares of Johnson & Johnson which is valued at $4,155,747. Johnson & Johnson makes up approx 2.75% of Keystone Financial Planning’s portfolio.Montrusco Bolton Investments boosted its stake in JNJ in the latest quarter, The investment management firm added 732 additional shares and now holds a total of 57,222 shares of Johnson & Johnson which is valued at $7,154,467. Johnson & Johnson makes up approx 0.44% of Montrusco Bolton Investments’s portfolio.Punch Associates Investment Management boosted its stake in JNJ in the latest quarter, The investment management firm added 513 additional shares and now holds a total of 42,721 shares of Johnson & Johnson which is valued at $5,260,664. Johnson & Johnson makes up approx 0.59% of Punch Associates Investment Management’s portfolio.Ct Mason reduced its stake in JNJ by selling 318 shares or 0.88% in the most recent quarter. The Hedge Fund company now holds 35,672 shares of JNJ which is valued at $4,382,305. Johnson & Johnson makes up approx 1.83% of Ct Mason’s portfolio.

Johnson & Johnson opened for trading at $124.34 and hit $125.32 on the upside on Friday, eventually ending the session at $125.23, with a gain of 0.62% or 0.77 points. The heightened volatility saw the trading volume jump to 70,20,910 shares. Company has a market cap of $344,463 M.

On the company’s financial health, Johnson & Johnson reported $1.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 19, 2016. Analyst had a consensus of $1.68. The company had revenue of $18482.00 million for the quarter, compared to analysts expectations of $17985.80 million. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.71 EPS.

Investors should note that on Jul 20, 2016, Johnson & Johnson announced a cash dividend of $0.2900. The company’s management has announced Aug 3, 2016 as the ex-dividend date and fixed the record date on Aug 5, 2016. The payable date has been fixed on Aug 19, 2016.

Many Wall Street Analysts have commented on Johnson & Johnson. Company shares were Reiterated by UBS on Jul 20, 2016 to “Buy”, Firm has raised the Price Target to $ 137 from a previous price target of $126 .Company shares were Reiterated by RBC Capital Mkts on Jul 20, 2016 to “Outperform”, Firm has raised the Price Target to $ 133 from a previous price target of $125 .Standpoint Research Initiated Johnson & Johnson on May 20, 2016 to “Sell”, Price Target of the shares are set at $94.

Johnson & Johnson is a holding company. The Company is engaged in the research and development manufacture and sale of a range of products in the health care field. The Company has more than 265 operating companies conducting business around the world. The Company’s primary focus is products related to human health and well-being. The Company is organized into three business segments: Consumer Pharmaceutical and Medical Devices. The Company’s subsidiaries operate 134 manufacturing facilities occupying approximately 21.5 million square feet of floor space. The Company’s research facilities are located in the United States Belgium Brazil Canada China France Germany India Israel Japan the Netherlands Singapore Switzerland and the United Kingdom.

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