Summit Place Financial Advisors LLC Sells 572 Shares of Johnson & Johnson (NYSE:JNJ)

Summit Place Financial Advisors LLC lowered its position in shares of Johnson & Johnson (NYSE:JNJ) by 3.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,158 shares of the company’s stock after selling 572 shares during the quarter. Summit Place Financial Advisors LLC’s holdings in Johnson & Johnson were worth $2,943,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Gemmer Asset Management LLC increased its position in shares of Johnson & Johnson by 39.1% in the third quarter. Gemmer Asset Management LLC now owns 8,375 shares of the company’s stock valued at $1,357,000 after acquiring an additional 2,356 shares during the last quarter. FCG Investment Co grew its stake in Johnson & Johnson by 219.1% in the third quarter. FCG Investment Co now owns 14,409 shares of the company’s stock valued at $2,335,000 after purchasing an additional 9,894 shares in the last quarter. Insight Folios Inc increased its position in shares of Johnson & Johnson by 6.2% during the 3rd quarter. Insight Folios Inc now owns 43,421 shares of the company’s stock worth $7,037,000 after purchasing an additional 2,522 shares during the last quarter. IVC Wealth Advisors LLC boosted its holdings in shares of Johnson & Johnson by 2.2% in the 3rd quarter. IVC Wealth Advisors LLC now owns 10,944 shares of the company’s stock valued at $1,774,000 after buying an additional 232 shares during the last quarter. Finally, First Financial Bankshares Inc grew its stake in shares of Johnson & Johnson by 10.7% in the third quarter. First Financial Bankshares Inc now owns 630,066 shares of the company’s stock valued at $102,108,000 after buying an additional 61,076 shares in the last quarter. 69.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on JNJ. Morgan Stanley increased their price target on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note 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. Royal Bank of Canada raised their price objective on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Daiwa America lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $175.93.

Johnson & Johnson Stock Up 0.4 %

JNJ opened at $161.60 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. The stock has a fifty day moving average of $163.45 and a 200-day moving average of $155.19. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $168.85. The company has a market capitalization of $388.92 billion, a P/E ratio of 10.07, a P/E/G ratio of 2.90 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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.46%. The firm had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. During the same quarter in the previous year, the firm posted $2.66 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities analysts expect that Johnson & Johnson will post 9.94 EPS for the current year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be issued a $1.24 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 annualized dividend and a yield of 3.07%. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Insider Activity

In related news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction 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 owns 18,973 shares in the company, valued at approximately $3,131,683.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate 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.