Johnson & Johnson (NYSE:JNJ) Shares Sold by Hayek Kallen Investment Management

Hayek Kallen Investment Management decreased its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 0.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,090 shares of the company’s stock after selling 330 shares during the period. Johnson & Johnson makes up about 2.1% of Hayek Kallen Investment Management’s holdings, making the stock its 15th biggest position. Hayek Kallen Investment Management’s holdings in Johnson & Johnson were worth $6,011,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on JNJ. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a report on Thursday, October 10th. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Morgan Stanley increased their target price on Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Daiwa Capital Markets downgraded Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Finally, Royal Bank of Canada lifted their price objective on Johnson & Johnson from $175.00 to $178.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $174.31.

Insider Buying and Selling at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the 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 owns 18,973 shares in the company, valued at approximately $3,131,683.38. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is currently owned by corporate insiders.

Johnson & Johnson Trading Up 1.4 %

JNJ stock traded up $2.22 during trading on Tuesday, reaching $163.82. 4,587,624 shares of the stock traded hands, compared to its average volume of 7,021,804. The firm has a market capitalization of $394.26 billion, a PE ratio of 10.07, a P/E/G ratio of 2.65 and a beta of 0.52. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. The business’s 50 day moving average price is $162.60 and its 200-day moving average price is $154.48. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85.

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

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.03%. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

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.