Johnson & Johnson (NYSE:JNJ) Shares Sold by Asset Advisors Investment Management LLC

Asset Advisors Investment Management LLC cut its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 9.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,932 shares of the company’s stock after selling 11,676 shares during the period. Johnson & Johnson comprises about 1.9% of Asset Advisors Investment Management LLC’s portfolio, making the stock its 19th biggest position. Asset Advisors Investment Management LLC’s holdings in Johnson & Johnson were worth $17,816,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in JNJ. Tidal Investments LLC lifted its position in shares of Johnson & Johnson by 11.1% during the 3rd quarter. Tidal Investments LLC now owns 186,860 shares of the company’s stock worth $30,283,000 after purchasing an additional 18,605 shares during the last quarter. Destination Wealth Management grew its position in shares of Johnson & Johnson by 2.7% in the 3rd quarter. Destination Wealth Management now owns 268,537 shares of the company’s stock valued at $43,519,000 after buying an additional 7,133 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its stake in Johnson & Johnson by 112.4% in the third quarter. Wilmington Savings Fund Society FSB now owns 501,138 shares of the company’s stock valued at $81,214,000 after acquiring an additional 265,215 shares in the last quarter. Arvest Bank Trust Division acquired a new stake in shares of Johnson & Johnson in the 3rd quarter valued at about $14,341,000. Finally, World Investment Advisors LLC increased its holdings in shares of Johnson & Johnson by 189.5% in the 3rd quarter. World Investment Advisors LLC now owns 82,736 shares of the company’s stock valued at $13,408,000 after acquiring an additional 54,162 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on JNJ shares. Wells Fargo & Company raised their price objective on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Morgan Stanley boosted their target price on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Royal Bank of Canada increased their price target on Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $174.73.

Johnson & Johnson Stock Down 0.3 %

JNJ opened at $146.23 on Friday. The firm has a market cap of $352.07 billion, a P/E ratio of 21.16, a PEG ratio of 2.52 and a beta of 0.51. The business’s fifty day simple moving average is $157.01 and its 200 day simple moving average is $156.28. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45.

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

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th were paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date was Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio is currently 71.78%.

Insider Transactions at Johnson & Johnson

In related news, Director Mark A. Weinberger purchased 1,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were bought at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the acquisition, the director now directly owns 1,000 shares in the company, valued at $147,220. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. 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.