Harvey Investment Co. LLC Reduces Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Harvey Investment Co. LLC decreased its holdings in Johnson & Johnson (NYSE:JNJ) by 3.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 206,121 shares of the company’s stock after selling 8,108 shares during the quarter. Johnson & Johnson accounts for about 3.8% of Harvey Investment Co. LLC’s investment portfolio, making the stock its 6th largest position. Harvey Investment Co. LLC’s holdings in Johnson & Johnson were worth $33,404,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of JNJ. Innealta Capital LLC acquired a new stake in Johnson & Johnson during the 2nd quarter valued at $27,000. MFA Wealth Advisors LLC acquired a new position in Johnson & Johnson during the second quarter valued at $43,000. Fairfield Financial Advisors LTD purchased a new stake in Johnson & Johnson in the 2nd quarter worth about $46,000. Fairway Wealth LLC boosted its position in Johnson & Johnson by 217.1% during the 2nd quarter. Fairway Wealth LLC now owns 333 shares of the company’s stock worth $49,000 after acquiring an additional 228 shares during the period. Finally, Quarry LP purchased a new position in Johnson & Johnson during the 2nd quarter valued at about $49,000. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $163.67 on Friday. 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 one year low of $143.13 and a one year high of $168.85. The company’s fifty day moving average price is $163.29 and its 200 day moving average price is $154.92. The company has a market capitalization of $393.90 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping 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 36.60% and a net margin of 46.34%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.66 EPS. As a group, analysts expect that Johnson & Johnson will post 10 earnings per share for the current year.

Johnson & Johnson Announces Dividend

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 paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s payout ratio is currently 30.92%.

Analysts Set New Price Targets

JNJ has been the subject of several research reports. Sanford C. Bernstein raised their price target on shares of Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Daiwa America lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Wells Fargo & Company increased their price objective on Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a report on Wednesday, October 16th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $175.93.

Insider Buying and Selling at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the transaction, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.

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.