Johnson & Johnson (NYSE:JNJ) Shares Sold by Oak Harvest Investment Services

Oak Harvest Investment Services lessened its holdings in Johnson & Johnson (NYSE:JNJ) by 0.9% during the third quarter, Holdings Channel.com reports. The firm owned 54,172 shares of the company’s stock after selling 479 shares during the quarter. Johnson & Johnson makes up 1.3% of Oak Harvest Investment Services’ investment portfolio, making the stock its 28th largest position. Oak Harvest Investment Services’ holdings in Johnson & Johnson were worth $8,779,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. International Assets Investment Management LLC grew its stake in shares of Johnson & Johnson by 20,130.0% during the 3rd quarter. International Assets Investment Management LLC now owns 3,454,473 shares of the company’s stock worth $559,832,000 after purchasing an additional 3,437,397 shares during the period. Marshall Wace LLP boosted its holdings in Johnson & Johnson by 506.9% during the second quarter. Marshall Wace LLP now owns 3,884,962 shares of the company’s stock worth $567,826,000 after buying an additional 3,244,862 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Johnson & Johnson by 16.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after buying an additional 3,139,499 shares during the period. Ninety One UK Ltd lifted its position in shares of Johnson & Johnson by 59.0% during the 2nd quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock valued at $980,579,000 after acquiring an additional 2,489,925 shares during the period. Finally, Swedbank AB purchased a new stake in shares of Johnson & Johnson during the 1st quarter worth approximately $331,178,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on JNJ shares. Wells Fargo & Company lifted their price objective on Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Daiwa America cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. TD Securities dropped their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Citigroup increased their price target on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada lifted their price objective on Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Six research 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. According to data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.93.

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $159.86 on Friday. The stock has a fifty day moving average price of $163.39 and a 200 day moving average price of $155.35. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85. The firm has a market capitalization of $384.88 billion, a P/E ratio of 23.13, a PEG ratio of 2.90 and a beta of 0.52. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.46%. The company had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. During the same quarter in the prior year, the company posted $2.66 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. Equities research analysts anticipate 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. Stockholders of record on Tuesday, November 26th will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s payout ratio is currently 71.78%.

Insiders Place Their Bets

In related news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction on 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 approximately $3,131,683.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is owned by insiders.

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.