Johnson & Johnson (NYSE:JNJ) Shares Sold by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC lowered its stake in shares of Johnson & Johnson (NYSE:JNJ) by 4.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,515 shares of the company’s stock after selling 665 shares during the quarter. Johnson & Johnson makes up approximately 1.0% of Palumbo Wealth Management LLC’s holdings, making the stock its 29th largest position. Palumbo Wealth Management LLC’s holdings in Johnson & Johnson were worth $2,514,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC grew its holdings in shares of Johnson & Johnson by 20,130.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,454,473 shares of the company’s stock worth $559,832,000 after acquiring an additional 3,437,397 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Johnson & Johnson by 506.9% in the 2nd quarter. Marshall Wace LLP now owns 3,884,962 shares of the company’s stock valued at $567,826,000 after buying an additional 3,244,862 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 valued at $3,453,978,000 after purchasing an additional 3,139,499 shares in the last quarter. Ninety One UK Ltd raised its holdings in Johnson & Johnson by 59.0% during the second quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock valued at $980,579,000 after buying an additional 2,489,925 shares in the last quarter. Finally, Swedbank AB bought a new position in shares of Johnson & Johnson in the 1st quarter valued at approximately $331,178,000. 69.55% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the business’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 sale, 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 through this link. 0.16% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. The Goldman Sachs Group cut their target price on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Daiwa America lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Daiwa Capital Markets downgraded Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $160.00 to $150.00 in a research report on Tuesday, July 23rd. TD Securities reduced their price objective on Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Wednesday, October 16th. Six 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $175.93.

Johnson & Johnson Trading Down 0.5 %

JNJ stock opened at $159.86 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $168.85. The company has a market cap of $384.88 billion, a P/E ratio of 23.13, a PEG ratio of 2.85 and a beta of 0.52. The business has a fifty day moving average of $163.39 and a 200-day moving average of $155.35.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The business had revenue of $22.47 billion for the quarter, compared to the consensus estimate of $22.17 billion. During the same quarter last year, the business posted $2.66 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, equities research analysts expect that Johnson & Johnson will post 9.94 EPS for the current year.

Johnson & Johnson Dividend Announcement

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

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.