Congress Asset Management Co. Lowers Holdings in Johnson & Johnson (NYSE:JNJ)

Congress Asset Management Co. lowered its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 37.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 9,694 shares of the company’s stock after selling 5,783 shares during the period. Congress Asset Management Co.’s holdings in Johnson & Johnson were worth $1,571,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in JNJ. Tilson Financial Group Inc. purchased a new position in Johnson & Johnson during the third quarter valued at $258,000. Tevis Investment Management boosted its holdings in shares of Johnson & Johnson by 5.4% during the 3rd quarter. Tevis Investment Management now owns 17,334 shares of the company’s stock valued at $2,809,000 after purchasing an additional 884 shares during the last quarter. Cornerstone Wealth Group LLC increased its holdings in shares of Johnson & Johnson by 1.3% in the third quarter. Cornerstone Wealth Group LLC now owns 52,977 shares of the company’s stock worth $8,585,000 after purchasing an additional 687 shares during the last quarter. JFS Wealth Advisors LLC lifted its position in shares of Johnson & Johnson by 49.7% in the third quarter. JFS Wealth Advisors LLC now owns 30,621 shares of the company’s stock worth $4,962,000 after buying an additional 10,160 shares in the last quarter. Finally, SteelPeak Wealth LLC boosted its stake in Johnson & Johnson by 9.6% during the third quarter. SteelPeak Wealth LLC now owns 77,813 shares of the company’s stock valued at $12,610,000 after buying an additional 6,786 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on JNJ. Citigroup upped their price objective on Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research note on Wednesday, October 16th. TD Securities reduced their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Finally, Wells Fargo & Company boosted their price objective on Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $175.93.

Insider Transactions at Johnson & Johnson

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

Johnson & Johnson Stock Up 0.2 %

Shares of JNJ opened at $160.13 on Friday. The firm has a market capitalization of $385.53 billion, a P/E ratio of 23.17, a P/E/G ratio of 2.85 and a beta of 0.52. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85. The firm has a fifty day moving average price of $163.31 and a 200-day moving average price of $155.44. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The business had revenue of $22.47 billion for the quarter, compared to the consensus estimate of $22.17 billion. During the same period in the prior year, the firm earned $2.66 EPS. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities research analysts expect that Johnson & Johnson will post 9.94 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 71.78%.

Johnson & Johnson 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.