Brass Tax Wealth Management Inc. Sells 354 Shares of Johnson & Johnson (NYSE:JNJ)

Brass Tax Wealth Management Inc. reduced its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 9.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,595 shares of the company’s stock after selling 354 shares during the quarter. Brass Tax Wealth Management Inc.’s holdings in Johnson & Johnson were worth $583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp lifted its holdings in shares of Johnson & Johnson by 0.9% during the third quarter. State Street Corp now owns 134,245,811 shares of the company’s stock valued at $21,755,874,000 after purchasing an additional 1,154,088 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Johnson & Johnson by 1.8% in the third quarter. Geode Capital Management LLC now owns 56,106,884 shares of the company’s stock valued at $9,064,149,000 after acquiring an additional 1,004,763 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Johnson & Johnson by 10.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock valued at $2,744,979,000 after acquiring an additional 1,831,751 shares during the period. FMR LLC lifted its holdings in Johnson & Johnson by 7.4% in the third quarter. FMR LLC now owns 18,316,920 shares of the company’s stock valued at $2,968,440,000 after acquiring an additional 1,265,748 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Johnson & Johnson by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock valued at $2,858,543,000 after acquiring an additional 102,502 shares during the period. 69.55% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Mark A. Weinberger acquired 1,000 shares of the stock in a transaction dated Thursday, December 12th. The stock was acquired at an average cost of $147.22 per share, with a total value of $147,220.00. Following the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $147,220. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Price Performance

NYSE JNJ traded up $0.46 during trading on Friday, hitting $146.70. 1,834,608 shares of the stock traded hands, compared to its average volume of 7,094,924. The company has a market capitalization of $353.20 billion, a P/E ratio of 21.16, a price-to-earnings-growth ratio of 2.52 and a beta of 0.51. The firm has a 50-day simple moving average of $157.01 and a 200-day simple moving average of $156.28. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.21. The business had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.66 EPS. As a group, analysts predict that Johnson & Johnson will post 9.94 EPS for the current year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th were issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.38%. The ex-dividend date was Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio is presently 71.78%.

Analyst Ratings Changes

A number of analysts have commented on JNJ shares. Bank of America restated a “neutral” rating and issued a $166.00 price target on shares of Johnson & Johnson in a research report on Tuesday. Guggenheim upped their price target on Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Morgan Stanley upped their price target on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada upped their price target on Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $174.73.

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.