Johnson & Johnson (NYSE:JNJ) Shares Sold by Merrion Investment Management Co LLC

Merrion Investment Management Co LLC lowered its position in Johnson & Johnson (NYSE:JNJ) by 7.5% during the third quarter, HoldingsChannel.com reports. The fund owned 12,294 shares of the company’s stock after selling 1,000 shares during the quarter. Johnson & Johnson accounts for approximately 1.3% of Merrion Investment Management Co LLC’s holdings, making the stock its 19th largest holding. Merrion Investment Management Co LLC’s holdings in Johnson & Johnson were worth $1,992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Summit Wealth Partners LLC lifted its stake in Johnson & Johnson by 0.6% in the 2nd quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company’s stock valued at $1,463,000 after buying an additional 61 shares in the last quarter. Citizens & Northern Corp lifted its stake in Johnson & Johnson by 3.5% in the 2nd quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock valued at $275,000 after buying an additional 63 shares in the last quarter. Eagle Wealth Strategies LLC lifted its stake in Johnson & Johnson by 2.8% in the 3rd quarter. Eagle Wealth Strategies LLC now owns 2,294 shares of the company’s stock valued at $372,000 after buying an additional 63 shares in the last quarter. Epic Trust Investment Advisors LLC lifted its stake in Johnson & Johnson by 3.6% in the 2nd quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock valued at $268,000 after buying an additional 64 shares in the last quarter. Finally, Pine Harbor Wealth Management LLC lifted its stake in Johnson & Johnson by 1.9% in the 2nd quarter. Pine Harbor Wealth Management LLC now owns 3,472 shares of the company’s stock valued at $507,000 after buying an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Down 0.1 %

Shares of NYSE JNJ opened at $160.52 on Friday. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85. The company has a market cap of $386.41 billion, a P/E ratio of 10.03, a P/E/G ratio of 2.65 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. The stock has a fifty day moving average price of $162.64 and a 200 day moving average price of $154.45.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The firm had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. During the same period in the prior year, the firm earned $2.80 EPS. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. Research analysts anticipate that Johnson & Johnson will post 10 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were issued a $1.24 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 3.09%. Johnson & Johnson’s dividend payout ratio is currently 30.98%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on JNJ shares. TD Securities reduced their price target on Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Daiwa Capital Markets lowered Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $160.00 to $150.00 in a research note on Tuesday, July 23rd. The Goldman Sachs Group reduced their price target on 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 increased their price target on Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Finally, Royal Bank of Canada increased their price target on Johnson & Johnson from $175.00 to $178.00 and gave the stock an “outperform” rating in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus target price of $173.43.

Insider Activity at Johnson & Johnson

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