Richard Bernstein Advisors Lowers stake in Johnson & Johnson (JNJ)

Johnson & Johnson (JNJ) : Richard Bernstein Advisors reduced its stake in Johnson & Johnson by 24.68% during the most recent quarter end. The investment management company now holds a total of 87,863 shares of Johnson & Johnson which is valued at $9,905,675 after selling 28,785 shares in Johnson & Johnson , the firm said in a disclosure report filed with the SEC on May 3, 2016.Johnson & Johnson makes up approximately 0.98% of Richard Bernstein Advisors’s portfolio.

Other Hedge Funds, Including , Deschutes Portfolio Strategy reduced its stake in JNJ by selling 1,169 shares or 35.89% in the most recent quarter. The Hedge Fund company now holds 2,088 shares of JNJ which is valued at $235,401. Johnson & Johnson makes up approx 0.12% of Deschutes Portfolio Strategy’s portfolio.Evergreen Capital Management reduced its stake in JNJ by selling 64 shares or 0.12% in the most recent quarter. The Hedge Fund company now holds 51,308 shares of JNJ which is valued at $5,784,464. Johnson & Johnson makes up approx 1.28% of Evergreen Capital Management’s portfolio.Texas Permanent School Fund reduced its stake in JNJ by selling 26,273 shares or 2.69% in the most recent quarter. The Hedge Fund company now holds 949,666 shares of JNJ which is valued at $106,438,565. Johnson & Johnson makes up approx 1.34% of Texas Permanent School Fund’s portfolio.Wright Investors Service Inc reduced its stake in JNJ by selling 10,130 shares or 67.85% in the most recent quarter. The Hedge Fund company now holds 4,800 shares of JNJ which is valued at $537,984. Johnson & Johnson makes up approx 0.21% of Wright Investors Service Inc’s portfolio.

Johnson & Johnson opened for trading at $114 and hit $115 on the upside on Tuesday, eventually ending the session at $114.67, with a gain of 0.84% or 0.95 points. The heightened volatility saw the trading volume jump to 83,56,411 shares. Company has a market cap of $316,416 M.

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 20, 2016 to “Outperform”, Firm has raised the Price Target to $ 125 from a previous price target of $122 .Company shares were Reiterated by Piper Jaffray on Apr 20, 2016 to “Neutral”, Firm has raised the Price Target to $ 106 from a previous price target of $105 .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 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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