Proffitt & Goodson Inc. Sells 242 Shares of Johnson & Johnson (NYSE:JNJ)

Proffitt & Goodson Inc. lowered its position in shares of Johnson & Johnson (NYSE:JNJ) by 3.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,503 shares of the company’s stock after selling 242 shares during the period. Proffitt & Goodson Inc.’s holdings in Johnson & Johnson were worth $1,216,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in JNJ. Kennebec Savings Bank bought a new position in Johnson & Johnson during the third quarter worth about $1,109,000. Ashton Thomas Securities LLC bought a new position in shares of Johnson & Johnson during the third quarter worth approximately $713,000. Intrinsic Value Partners LLC bought a new stake in shares of Johnson & Johnson in the third quarter valued at approximately $206,000. 1900 Wealth Management LLC increased its stake in Johnson & Johnson by 6.1% during the 3rd quarter. 1900 Wealth Management LLC now owns 6,621 shares of the company’s stock worth $1,047,000 after acquiring an additional 382 shares during the period. Finally, Tyler Stone Wealth Management lifted its position in shares of Johnson & Johnson by 104.3% during the 3rd quarter. Tyler Stone Wealth Management now owns 6,308 shares of the company’s stock valued at $1,022,000 after acquiring an additional 3,220 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $155.05 on Tuesday. 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 $373.30 billion, a price-to-earnings ratio of 22.44, a P/E/G ratio of 2.76 and a beta of 0.53. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85. The firm’s 50-day simple moving average is $162.61 and its two-hundred day simple moving average is $155.91.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.21. The firm had revenue of $22.47 billion for the quarter, compared to analysts’ expectations of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The company’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.66 earnings per share. As a group, equities analysts forecast that Johnson & Johnson will post 9.93 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be given a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a yield of 3.20%. Johnson & Johnson’s payout ratio is 71.78%.

Insider Buying and Selling at Johnson & Johnson

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Citigroup increased their price objective on shares of Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Royal Bank of Canada lifted their price objective on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Daiwa Capital Markets cut Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Morgan Stanley lifted their price target on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Finally, TD Cowen reduced their price objective on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $175.00.

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.