Bank Pictet & Cie Europe AG Lowers Holdings in Johnson & Johnson (NYSE:JNJ)

Bank Pictet & Cie Europe AG trimmed its position in Johnson & Johnson (NYSE:JNJ) by 5.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,743 shares of the company’s stock after selling 620 shares during the period. Bank Pictet & Cie Europe AG’s holdings in Johnson & Johnson were worth $1,903,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of JNJ. Innealta Capital LLC purchased a new stake in shares of Johnson & Johnson during the 2nd quarter worth $27,000. MFA Wealth Advisors LLC purchased a new stake in shares of Johnson & Johnson during the 2nd quarter worth $43,000. Fairfield Financial Advisors LTD purchased a new stake in shares of Johnson & Johnson during the 2nd quarter worth $46,000. Fairway Wealth LLC boosted its position in shares of 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 purchasing an additional 228 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Johnson & Johnson during the 2nd quarter worth $49,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on JNJ. Daiwa Capital Markets downgraded Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Sanford C. Bernstein lifted their price target on Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Royal Bank of Canada boosted their target price 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. TD Cowen cut their target price on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.93.

Insiders Place Their Bets

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction that occurred 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 owns 18,973 shares in the company, valued at $3,131,683.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is owned by company insiders.

Johnson & Johnson Stock Up 1.5 %

Shares of NYSE:JNJ opened at $165.86 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85. The stock has a market capitalization of $399.17 billion, a P/E ratio of 10.34, a PEG ratio of 2.65 and a beta of 0.52. The stock has a 50-day simple moving average of $163.29 and a 200-day simple moving average of $154.92.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The business had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. During the same quarter in the previous year, the business earned $2.66 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities analysts forecast that Johnson & Johnson will post 10 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s payout ratio is currently 30.92%.

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.