Johnson & Johnson (NYSE:JNJ) Shares Sold by Asset Dedication LLC

Asset Dedication LLC lessened its holdings in Johnson & Johnson (NYSE:JNJ) by 15.7% during the 3rd quarter, Holdings Channel reports. The firm owned 22,593 shares of the company’s stock after selling 4,212 shares during the quarter. Asset Dedication LLC’s holdings in Johnson & Johnson were worth $3,661,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Innealta Capital LLC purchased a new stake in shares of Johnson & Johnson during the second quarter worth about $27,000. MFA Wealth Advisors LLC purchased a new stake in Johnson & Johnson in the 2nd quarter worth approximately $43,000. Fairfield Financial Advisors LTD acquired a new position in Johnson & Johnson in the 2nd quarter valued at $46,000. Fairway Wealth LLC boosted its holdings in shares of Johnson & Johnson by 217.1% during the second quarter. Fairway Wealth LLC now owns 333 shares of the company’s stock worth $49,000 after purchasing an additional 228 shares during the last quarter. Finally, Quarry LP purchased a new stake in shares of Johnson & Johnson in the second quarter valued at $49,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on JNJ shares. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. The Goldman Sachs Group cut their price target on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Morgan Stanley boosted their price objective on shares of Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Daiwa Capital Markets cut Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. Finally, TD Cowen cut their price objective on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $174.31.

Insider Activity

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the transaction, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Price Performance

Shares of JNJ stock opened at $164.14 on Wednesday. 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 firm has a market cap of $395.02 billion, a P/E ratio of 10.23, a P/E/G ratio of 2.65 and a beta of 0.52. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. The firm has a fifty day moving average of $162.70 and a two-hundred day moving average of $154.52.

Johnson & Johnson (NYSE:JNJ) last issued 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. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.33 billion. During the same quarter last year, the company posted $2.80 earnings per share. Johnson & Johnson’s revenue was up 4.3% on a year-over-year basis. As a group, research analysts anticipate that Johnson & Johnson will post 10 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.02%. Johnson & Johnson’s payout ratio is 30.92%.

Johnson & Johnson Profile

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.