Peak Asset Management LLC Sells 425 Shares of Johnson & Johnson (NYSE:JNJ)

Peak Asset Management LLC trimmed its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 3.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 12,119 shares of the company’s stock after selling 425 shares during the quarter. Peak Asset Management LLC’s holdings in Johnson & Johnson were worth $1,964,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. bought a new stake in Johnson & Johnson during the 1st quarter worth approximately $765,000. Empowered Funds LLC raised its position in shares of Johnson & Johnson by 46.7% during the 1st quarter. Empowered Funds LLC now owns 101,237 shares of the company’s stock valued at $16,015,000 after purchasing an additional 32,244 shares during the period. O Dell Group LLC boosted its holdings in Johnson & Johnson by 8.6% in the 1st quarter. O Dell Group LLC now owns 3,472 shares of the company’s stock worth $549,000 after buying an additional 276 shares during the period. QRG Capital Management Inc. raised its holdings in Johnson & Johnson by 9.4% during the first quarter. QRG Capital Management Inc. now owns 453,858 shares of the company’s stock valued at $71,796,000 after acquiring an additional 38,961 shares during the period. Finally, Qsemble Capital Management LP lifted its position in shares of Johnson & Johnson by 275.0% in the first quarter. Qsemble Capital Management LP now owns 19,221 shares of the company’s stock valued at $3,041,000 after acquiring an additional 14,096 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on JNJ. TD Cowen cut their price objective on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Royal Bank of Canada lifted their target price on Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. The Goldman Sachs Group dropped their price objective on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Daiwa Capital Markets cut shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Finally, Sanford C. Bernstein raised their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average price target of $175.00.

Insiders Place Their Bets

In other news, VP Robert J. Decker sold 5,635 shares of the business’s 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 transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.16% of the stock is owned by company insiders.

Johnson & Johnson Trading Up 0.4 %

Shares of NYSE JNJ opened at $153.28 on Thursday. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $168.85. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. The business has a fifty day simple moving average of $162.10 and a two-hundred day simple moving average of $156.01. The firm has a market cap of $369.04 billion, a PE ratio of 22.18, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. The company had revenue of $22.47 billion during the quarter, compared to analyst estimates of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.66 earnings per share. Analysts expect that Johnson & Johnson will post 9.93 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is 71.78%.

Johnson & Johnson Company 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.