Johnson & Johnson (NYSE:JNJ) Position Trimmed by Callahan Advisors LLC

Callahan Advisors LLC cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 2.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 118,242 shares of the company’s stock after selling 2,487 shares during the period. Johnson & Johnson comprises approximately 1.9% of Callahan Advisors LLC’s holdings, making the stock its 12th largest position. Callahan Advisors LLC’s holdings in Johnson & Johnson were worth $19,162,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in JNJ. Innealta Capital LLC bought a new position in shares of Johnson & Johnson during the 2nd quarter valued at $27,000. Highline Wealth Partners LLC acquired a new position in Johnson & Johnson during the third quarter worth $31,000. Mowery & Schoenfeld Wealth Management LLC raised its holdings in Johnson & Johnson by 58.7% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after buying an additional 91 shares in the last quarter. Morton Brown Family Wealth LLC lifted its holdings in Johnson & Johnson by 400.0% in the 3rd quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock worth $41,000 after purchasing an additional 200 shares during the last quarter. Finally, MFA Wealth Advisors LLC bought a new stake in Johnson & Johnson during the second quarter worth approximately $43,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Insider Activity

In other news, VP Robert J. Decker sold 5,635 shares of the business’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 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 Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is currently owned by company insiders.

Johnson & Johnson Price Performance

Shares of JNJ stock opened at $157.76 on Thursday. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $379.83 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 2.81 and a beta of 0.53. The firm’s 50 day moving average is $162.96 and its 200-day moving average is $155.76. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85.

Johnson & Johnson (NYSE:JNJ) last released 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. The company had revenue of $22.47 billion for the quarter, compared to the consensus estimate of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.66 EPS. Sell-side analysts forecast that Johnson & Johnson will post 9.94 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be given a dividend of $1.24 per share. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 annualized dividend and a dividend yield of 3.14%. Johnson & Johnson’s payout ratio is currently 71.78%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on JNJ shares. Guggenheim boosted their price objective on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research note on Wednesday. Morgan Stanley increased their target price on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group dropped their price target on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Finally, Daiwa Capital Markets cut shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their target price for the company from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.00.

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.