Johnson & Johnson (NYSE:JNJ) is Harvest Portfolios Group Inc.’s 4th Largest Position

Harvest Portfolios Group Inc. cut its position in Johnson & Johnson (NYSE:JNJ) by 2.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 469,974 shares of the company’s stock after selling 10,238 shares during the quarter. Johnson & Johnson accounts for about 2.5% of Harvest Portfolios Group Inc.’s holdings, making the stock its 4th largest holding. Harvest Portfolios Group Inc.’s holdings in Johnson & Johnson were worth $76,164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Benchmark Financial Wealth Advisors LLC boosted its stake in Johnson & Johnson by 5.3% during the third quarter. Benchmark Financial Wealth Advisors LLC now owns 1,520 shares of the company’s stock valued at $246,000 after buying an additional 76 shares during the period. Radnor Capital Management LLC bought a new stake in shares of Johnson & Johnson during the 3rd quarter valued at about $9,318,000. Wisconsin Capital Management LLC purchased a new position in shares of Johnson & Johnson during the third quarter worth about $203,000. Catalina Capital Group LLC increased its position in shares of Johnson & Johnson by 22.2% in the third quarter. Catalina Capital Group LLC now owns 8,098 shares of the company’s stock worth $1,312,000 after purchasing an additional 1,473 shares during the last quarter. Finally, Avidian Wealth Enterprises LLC lifted its position in Johnson & Johnson by 2.8% during the third quarter. Avidian Wealth Enterprises LLC now owns 16,749 shares of the company’s stock valued at $2,714,000 after purchasing an additional 452 shares during the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction on 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 directly owns 18,973 shares in the company, valued at approximately $3,131,683.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

JNJ has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their price objective on shares of Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. TD Securities cut their price objective on Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Wells Fargo & Company raised their price objective on Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Daiwa America lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Guggenheim lifted their price target on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research note on Wednesday. Seven investment 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.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $175.00.

Johnson & Johnson Trading Down 0.4 %

Shares of JNJ opened at $157.76 on Thursday. The firm has a fifty day simple moving average of $162.96 and a two-hundred day simple moving average of $155.76. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $168.85. The stock has a market capitalization of $379.83 billion, a P/E ratio of 22.83, a PEG ratio of 2.81 and a beta of 0.53. 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 (NYSE:JNJ) last posted its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share (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 analysts’ expectations of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. Johnson & Johnson’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm earned $2.66 earnings per share. On average, research analysts anticipate 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. Investors of record on Tuesday, November 26th will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s payout ratio is 71.78%.

Johnson & Johnson 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.