PFG Advisors Cuts Stock Position in Johnson & Johnson (NYSE:JNJ)

PFG Advisors lessened its stake in shares of Johnson & Johnson (NYSE:JNJ) by 7.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,780 shares of the company’s stock after selling 2,247 shares during the quarter. PFG Advisors’ holdings in Johnson & Johnson were worth $4,826,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Summit Wealth Partners LLC raised its position in Johnson & Johnson by 0.6% in the second quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company’s stock worth $1,463,000 after acquiring an additional 61 shares in the last quarter. Citizens & Northern Corp raised its position in Johnson & Johnson by 3.5% in the second quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock worth $275,000 after acquiring an additional 63 shares in the last quarter. Eagle Wealth Strategies LLC raised its position in Johnson & Johnson by 2.8% in the third quarter. Eagle Wealth Strategies LLC now owns 2,294 shares of the company’s stock worth $372,000 after acquiring an additional 63 shares in the last quarter. Epic Trust Investment Advisors LLC raised its position in Johnson & Johnson by 3.6% in the second quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock worth $268,000 after acquiring an additional 64 shares in the last quarter. Finally, Pine Harbor Wealth Management LLC raised its position in Johnson & Johnson by 1.9% in the second quarter. Pine Harbor Wealth Management LLC now owns 3,472 shares of the company’s stock worth $507,000 after acquiring an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insider Activity at Johnson & Johnson

In related 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 sale, the vice president now directly owns 18,973 shares in the company, valued at approximately $3,131,683.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $164.14 on Wednesday. The stock’s 50-day moving average is $162.70 and its 200-day moving average is $154.52. The company has a market cap of $395.02 billion, a price-to-earnings ratio of 10.23, a price-to-earnings-growth 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. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85.

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

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 3.02%. Johnson & Johnson’s payout ratio is currently 30.92%.

Analysts Set New Price Targets

Several research firms have weighed in on JNJ. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Thursday, October 10th. Sanford C. Bernstein upped their target price on Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Morgan Stanley upped 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. Finally, Daiwa Capital Markets lowered Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $174.31.

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.