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

Pzena Investment Management LLC reduced its stake in Johnson & Johnson (NYSE:JNJ) by 0.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 229,342 shares of the company’s stock after selling 802 shares during the period. Pzena Investment Management LLC’s holdings in Johnson & Johnson were worth $37,167,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Innealta Capital LLC purchased a new position in shares of Johnson & Johnson during the 2nd quarter worth approximately $27,000. Highline Wealth Partners LLC purchased a new position in shares of Johnson & Johnson during the third quarter worth $31,000. Mowery & Schoenfeld Wealth Management LLC raised its holdings in shares of Johnson & Johnson by 58.7% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after buying an additional 91 shares during the period. Morton Brown Family Wealth LLC lifted its stake in Johnson & Johnson by 400.0% during the 3rd quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock worth $41,000 after acquiring an additional 200 shares in the last quarter. Finally, MFA Wealth Advisors LLC acquired a new position in Johnson & Johnson in the 2nd quarter valued at about $43,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ traded down $0.39 on Wednesday, reaching $152.61. The company’s stock had a trading volume of 2,876,662 shares, compared to its average volume of 7,006,470. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85. The stock’s 50-day moving average is $160.83 and its two-hundred day moving average is $156.19. The stock has a market capitalization of $367.43 billion, a P/E ratio of 22.09, a PEG ratio of 2.74 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The business had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. During the same quarter in the previous year, the company posted $2.66 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Johnson & Johnson will post 9.93 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company 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 dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.25%. Johnson & Johnson’s dividend payout ratio (DPR) is 71.78%.

Wall Street Analyst Weigh In

JNJ has been the subject of several recent research reports. Royal Bank of Canada raised their price objective on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Morgan Stanley boosted their price target on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Citigroup upped their price target on Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Guggenheim boosted their price objective on Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.94.

Insider Buying and Selling

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the firm’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 sale, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. This trade represents a 22.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

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.