Cary Street Partners Asset Management LLC Sells 511 Shares of Johnson & Johnson (NYSE:JNJ)

Cary Street Partners Asset Management LLC lowered its stake in Johnson & Johnson (NYSE:JNJ) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,993 shares of the company’s stock after selling 511 shares during the period. Cary Street Partners Asset Management LLC’s holdings in Johnson & Johnson were worth $6,481,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Greenwood Capital Associates LLC boosted its holdings in Johnson & Johnson by 8.9% in the third quarter. Greenwood Capital Associates LLC now owns 71,927 shares of the company’s stock valued at $11,657,000 after acquiring an additional 5,858 shares in the last quarter. Catalyst Capital Advisors LLC boosted its holdings in Johnson & Johnson by 16.9% in the third quarter. Catalyst Capital Advisors LLC now owns 13,860 shares of the company’s stock valued at $2,246,000 after acquiring an additional 2,000 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its holdings in Johnson & Johnson by 7.3% in the third quarter. Hazlett Burt & Watson Inc. now owns 19,040 shares of the company’s stock valued at $3,082,000 after acquiring an additional 1,298 shares in the last quarter. Quintet Private Bank Europe S.A. lifted its position in Johnson & Johnson by 15.4% during the third quarter. Quintet Private Bank Europe S.A. now owns 42,127 shares of the company’s stock valued at $6,827,000 after buying an additional 5,606 shares during the period. Finally, PDS Planning Inc lifted its position in Johnson & Johnson by 5.2% during the third quarter. PDS Planning Inc now owns 14,842 shares of the company’s stock valued at $2,405,000 after buying an additional 729 shares during the period. Institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

JNJ has been the subject of several recent research reports. Royal Bank of Canada raised their price objective on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Daiwa America lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Wells Fargo & Company raised their price objective on Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. TD Cowen lowered their price objective on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Finally, TD Securities lowered their price target on Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $175.93.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $158.24 on Tuesday. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $168.85. The business has a 50-day simple moving average of $163.18 and a two-hundred day simple moving average of $155.68. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. The firm has a market cap of $380.98 billion, a price-to-earnings ratio of 22.90, a price-to-earnings-growth ratio of 2.84 and a beta of 0.53.

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

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.13%. Johnson & Johnson’s dividend payout ratio is currently 71.78%.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

About Johnson & Johnson

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.