White Pine Investment CO Reduces Stock Position in Johnson & Johnson (NYSE:JNJ)

White Pine Investment CO decreased its stake in Johnson & Johnson (NYSE:JNJ) by 59.4% during the third quarter, Holdings Channel reports. The institutional investor owned 1,890 shares of the company’s stock after selling 2,763 shares during the quarter. White Pine Investment CO’s holdings in Johnson & Johnson were worth $306,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. International Assets Investment Management LLC raised its holdings in shares of Johnson & Johnson by 20,130.0% during the third quarter. International Assets Investment Management LLC now owns 3,454,473 shares of the company’s stock valued at $559,832,000 after acquiring an additional 3,437,397 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Johnson & Johnson by 506.9% in the second quarter. Marshall Wace LLP now owns 3,884,962 shares of the company’s stock valued at $567,826,000 after purchasing an additional 3,244,862 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Johnson & Johnson by 16.8% in the first 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 during the last quarter. Ninety One UK Ltd increased its holdings in shares of Johnson & Johnson by 59.0% in the second quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock valued at $980,579,000 after purchasing an additional 2,489,925 shares during the last quarter. Finally, Swedbank AB acquired a new stake in shares of Johnson & Johnson in the first quarter valued at approximately $331,178,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Up 0.2 %

Shares of NYSE JNJ opened at $160.13 on Monday. The stock has a market cap of $385.53 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 2.84 and a beta of 0.52. 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 52-week low of $143.13 and a 52-week high of $168.85. The business has a 50-day moving average price of $163.31 and a 200 day moving average price of $155.59.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results 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 return on equity of 35.45% and a net margin of 19.14%. The firm had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. During the same period in the prior year, the firm earned $2.66 EPS. The business’s revenue was up 5.2% on a year-over-year basis. Equities research analysts forecast that Johnson & Johnson will post 9.94 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business 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 dividend of $1.24 per share. 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 payout ratio is 71.78%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Daiwa America cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Wells Fargo & Company increased their price objective on Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. TD Cowen lowered their price objective on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price objective 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 given a strong buy rating to the company. According to data from MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average price target of $175.93.

Insider Transactions at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction dated Friday, August 30th. The stock was 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 approximately $3,131,683.38. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.