Johnson & Johnson (NYSE:JNJ) Shares Sold by Cornell Pochily Investment Advisors Inc.

Cornell Pochily Investment Advisors Inc. cut its position in Johnson & Johnson (NYSE:JNJ) by 1.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,308 shares of the company’s stock after selling 387 shares during the period. Johnson & Johnson accounts for 1.1% of Cornell Pochily Investment Advisors Inc.’s investment portfolio, making the stock its 19th largest holding. Cornell Pochily Investment Advisors Inc.’s holdings in Johnson & Johnson were worth $3,291,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Innealta Capital LLC purchased a new position in Johnson & Johnson in the second quarter valued at approximately $27,000. MFA Wealth Advisors LLC acquired a new position in shares of Johnson & Johnson in the 2nd quarter valued at $43,000. Fairfield Financial Advisors LTD purchased a new position in shares of Johnson & Johnson in the 2nd quarter valued at $46,000. Grayhawk Investment Strategies Inc. raised its stake in Johnson & Johnson by 528.6% during the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after acquiring an additional 259 shares in the last quarter. Finally, Fairway Wealth LLC lifted its position in Johnson & Johnson by 217.1% in the second quarter. Fairway Wealth LLC now owns 333 shares of the company’s stock valued at $49,000 after acquiring an additional 228 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

JNJ has been the topic of a number of research analyst reports. Morgan Stanley lifted their target price on Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research report on Thursday, October 10th. Daiwa America downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. TD Securities cut their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Finally, TD Cowen reduced their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average price target of $174.31.

Johnson & Johnson Trading Up 0.1 %

Shares of Johnson & Johnson stock opened at $161.60 on Tuesday. The firm has a market cap of $388.92 billion, a price-to-earnings ratio of 10.07, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85. The company’s 50-day simple moving average is $162.60 and its 200-day simple moving average is $154.48. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The company had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.33 billion. During the same quarter in the previous year, the firm posted $2.80 EPS. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, equities research analysts anticipate that Johnson & Johnson will post 10 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.07%. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.