North American Management Corp Lowers stake in Johnson & Johnson (JNJ)

Johnson & Johnson (JNJ) : North American Management Corp reduced its stake in Johnson & Johnson by 2.94% during the most recent quarter end. The investment management company now holds a total of 281,032 shares of Johnson & Johnson which is valued at $30,964,106 after selling 8,519 shares in Johnson & Johnson , the firm said in a disclosure report filed with the SEC on Apr 13, 2016.Johnson & Johnson makes up approximately 4.99% of North American Management Corp’s portfolio.

Johnson & Johnson opened for trading at $110 and hit $111.1 on the upside on Monday, eventually ending the session at $110.93, with a gain of 0.68% or 0.75 points. The heightened volatility saw the trading volume jump to 77,72,549 shares. Company has a market cap of $306,096 M.

Other Hedge Funds, Including , Gradient Investments reduced its stake in JNJ by selling 2,826 shares or 7.08% in the most recent quarter. The Hedge Fund company now holds 37,090 shares of JNJ which is valued at $4,086,576. Johnson & Johnson makes up approx 0.50% of Gradient Investments’s portfolio.Stonebridge Capital Management Inc reduced its stake in JNJ by selling 7,300 shares or 7.29% in the most recent quarter. The Hedge Fund company now holds 92,868 shares of JNJ which is valued at $10,232,196. Johnson & Johnson makes up approx 4.32% of Stonebridge Capital Management Inc’s portfolio.Franklin Street Advisors Inc Nc boosted its stake in JNJ in the latest quarter, The investment management firm added 8,653 additional shares and now holds a total of 57,791 shares of Johnson & Johnson which is valued at $6,367,412. Johnson & Johnson makes up approx 1.24% of Franklin Street Advisors Inc Nc’s portfolio.British Columbia Investment Management Corp boosted its stake in JNJ in the latest quarter, The investment management firm added 33,395 additional shares and now holds a total of 1,632,232 shares of Johnson & Johnson which is valued at $177,864,321. Johnson & Johnson makes up approx 1.68% of British Columbia Investment Management Corp’s portfolio.Triangle Securities Wealth Management reduced its stake in JNJ by selling 215 shares or 0.64% in the most recent quarter. The Hedge Fund company now holds 33,441 shares of JNJ which is valued at $3,644,066. Johnson & Johnson makes up approx 2.39% of Triangle Securities Wealth Management’s portfolio.

On the company’s financial health, Johnson & Johnson reported $1.68 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 19, 2016. Analyst had a consensus of $1.65. The company had revenue of $17482.00 million for the quarter, compared to analysts expectations of $17491.02 million. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.56 EPS.

Many Wall Street Analysts have commented on Johnson & Johnson. Company shares were Reiterated by RBC Capital Mkts on Apr 15, 2016 to “Outperform”, Firm has raised the Price Target to $ 122 from a previous price target of $114 .Johnson & Johnson was Upgraded by Goldman to ” Neutral” on Mar 14, 2016.

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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