Salem Capital Management Inc Lowers stake in Johnson & Johnson (JNJ)

Johnson & Johnson (JNJ) : Salem Capital Management Inc reduced its stake in Johnson & Johnson by 0.4% during the most recent quarter end. The investment management company now holds a total of 75,160 shares of Johnson & Johnson which is valued at $8,281,129 after selling 305 shares in Johnson & Johnson , the firm said in a disclosure report filed with the SEC on Apr 11, 2016.Johnson & Johnson makes up approximately 4.57% of Salem Capital Management Inc’s portfolio.

Johnson & Johnson opened for trading at $110.07 and hit $110.4 on the upside on Friday, eventually ending the session at $110.18, with a gain of 0.31% or 0.34 points. The heightened volatility saw the trading volume jump to 1,00,57,921 shares. Company has a market cap of $304,026 M.

Other Hedge Funds, Including , Stillwater Capital Advisors reduced its stake in JNJ by selling 799 shares or 14.21% in the most recent quarter. The Hedge Fund company now holds 4,822 shares of JNJ which is valued at $531,288. Johnson & Johnson makes up approx 0.15% of Stillwater Capital Advisors’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.Mai Capital Management reduced its stake in JNJ by selling 16,582 shares or 7.5% in the most recent quarter. The Hedge Fund company now holds 204,504 shares of JNJ which is valued at $22,284,801. Johnson & Johnson makes up approx 1.84% of Mai Capital Management’s portfolio.Hollencrest Securities reduced its stake in JNJ by selling 76 shares or 0.59% in the most recent quarter. The Hedge Fund company now holds 12,838 shares of JNJ which is valued at $1,398,957. Johnson & Johnson makes up approx 0.24% of Hollencrest Securities’s portfolio.Cacti Asset Management reduced its stake in JNJ by selling 2,405 shares or 0.92% in the most recent quarter. The Hedge Fund company now holds 259,955 shares of JNJ which is valued at $28,384,486. Johnson & Johnson makes up approx 3.05% of Cacti Asset Management’s portfolio.

On the company’s financial health, Johnson & Johnson reported $1.44 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jan 26, 2016. Analyst had a consensus of $1.42. The company had revenue of $17811.00 million for the quarter, compared to analysts expectations of $17856.07 million. The company’s revenue was down -2.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.27 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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