Johnson & Johnson (NYSE:JNJ) Stake Trimmed by Cove Private Wealth LLC

Cove Private Wealth LLC lowered its stake in Johnson & Johnson (NYSE:JNJ) by 4.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,486 shares of the company’s stock after selling 384 shares during the quarter. Johnson & Johnson makes up 1.1% of Cove Private Wealth LLC’s investment portfolio, making the stock its 25th largest holding. Cove Private Wealth LLC’s holdings in Johnson & Johnson were worth $1,375,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its position in Johnson & Johnson by 16.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after acquiring an additional 3,139,499 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Johnson & Johnson by 10.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock worth $2,744,979,000 after acquiring an additional 1,831,751 shares during the period. Ameriprise Financial Inc. boosted its position in Johnson & Johnson by 5.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 14,374,397 shares of the company’s stock worth $2,100,427,000 after acquiring an additional 754,200 shares during the period. Dimensional Fund Advisors LP boosted its position in Johnson & Johnson by 16.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,147,352 shares of the company’s stock worth $1,921,565,000 after acquiring an additional 1,829,257 shares during the period. Finally, American Century Companies Inc. boosted its position in Johnson & Johnson by 5.8% during the 2nd quarter. American Century Companies Inc. now owns 8,014,213 shares of the company’s stock worth $1,171,357,000 after acquiring an additional 437,637 shares during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JNJ has been the subject of a number of research reports. TD Securities decreased their price objective on Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Wells Fargo & Company lifted their price target on Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Sanford C. Bernstein lifted their price target on Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Finally, The Goldman Sachs Group reduced their price target on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $175.93.

Johnson & Johnson Stock Down 0.5 %

Shares of JNJ stock opened at $159.86 on Friday. The stock’s 50 day simple moving average is $163.39 and its 200 day simple moving average is $155.35. 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 twelve month low of $143.13 and a twelve month high of $168.85. The company has a market capitalization of $384.88 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 2.90 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.21 by $0.21. The company had revenue of $22.47 billion for the quarter, compared to the consensus estimate of $22.17 billion. Johnson & Johnson had a return on equity of 35.46% and a net margin of 19.14%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.66 EPS. As a group, research analysts predict that Johnson & Johnson will post 9.94 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio is currently 71.78%.

Insiders Place Their Bets

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson 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 transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.16% of the company’s stock.

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.