GUNN & Co INVESTMENT MANAGEMENT INC. Cuts Stake in Johnson & Johnson (NYSE:JNJ)

GUNN & Co INVESTMENT MANAGEMENT INC. lessened its position in Johnson & Johnson (NYSE:JNJ) by 92.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,568 shares of the company’s stock after selling 241,657 shares during the period. Johnson & Johnson comprises 2.3% of GUNN & Co INVESTMENT MANAGEMENT INC.’s portfolio, making the stock its 17th largest holding. GUNN & Co INVESTMENT MANAGEMENT INC.’s holdings in Johnson & Johnson were worth $3,333,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Meridian Financial Partners LLC purchased a new position in Johnson & Johnson in the 2nd quarter worth about $1,626,000. Summit Financial Wealth Advisors LLC grew its stake in shares of Johnson & Johnson by 26.3% in the first quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock worth $853,000 after acquiring an additional 1,122 shares during the period. Franklin Parlapiano Turner & Welch LLC raised its holdings in shares of Johnson & Johnson by 0.7% during the first quarter. Franklin Parlapiano Turner & Welch LLC now owns 47,186 shares of the company’s stock valued at $7,464,000 after purchasing an additional 325 shares during the last quarter. Capital Asset Advisory Services LLC lifted its position in Johnson & Johnson by 8.8% during the first quarter. Capital Asset Advisory Services LLC now owns 26,539 shares of the company’s stock valued at $4,044,000 after purchasing an additional 2,151 shares during the period. Finally, NTV Asset Management LLC grew its position in Johnson & Johnson by 1.6% in the 1st quarter. NTV Asset Management LLC now owns 36,000 shares of the company’s stock worth $5,695,000 after purchasing an additional 565 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction dated Friday, August 30th. The shares were 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 of the company’s stock, valued at approximately $3,131,683.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Down 1.3 %

Shares of JNJ stock opened at $163.67 on Friday. The company’s fifty day simple moving average is $163.29 and its two-hundred day simple moving average is $154.92. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85. The stock has a market cap of $393.90 billion, a P/E ratio of 10.20, a PEG ratio of 2.65 and a beta of 0.52. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, beating 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 return on equity of 36.60% and a net margin of 46.34%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.66 earnings per share. Analysts predict that Johnson & Johnson will post 10 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s payout ratio is 30.92%.

Wall Street Analyst Weigh In

JNJ has been the topic of a number of research reports. Sanford C. Bernstein raised their price target on Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research note on Wednesday, October 16th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Morgan Stanley raised their target price on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Finally, Daiwa America cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.93.

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.