Montecito Bank & Trust Acquires 88 Shares of Johnson & Johnson (NYSE:JNJ)

Montecito Bank & Trust raised its stake in shares of Johnson & Johnson (NYSE:JNJ) by 0.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 21,343 shares of the company’s stock after acquiring an additional 88 shares during the period. Montecito Bank & Trust’s holdings in Johnson & Johnson were worth $3,459,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Innealta Capital LLC purchased a new position in Johnson & Johnson in the second quarter worth about $27,000. Highline Wealth Partners LLC bought a new position in shares of Johnson & Johnson in the 3rd quarter worth approximately $31,000. Mowery & Schoenfeld Wealth Management LLC boosted its holdings in shares of Johnson & Johnson by 58.7% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after buying an additional 91 shares during the last quarter. Morton Brown Family Wealth LLC grew its position in Johnson & Johnson by 400.0% during the third quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock valued at $41,000 after buying an additional 200 shares during the period. Finally, MFA Wealth Advisors LLC bought a new position in Johnson & Johnson in the second quarter worth approximately $43,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insiders Place Their Bets

In other news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. The trade was 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 insiders.

Wall Street Analyst Weigh In

JNJ has been the subject of a number of recent research reports. TD Securities cut their price objective on shares of Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Morgan Stanley upped their price target on Johnson & Johnson from $169.00 to $175.00 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 on the stock in a research report on Thursday, July 18th. Guggenheim increased their target price on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Sanford C. Bernstein lifted their price target on shares of Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Seven 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $175.00.

Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock opened at $156.71 on Friday. The firm has a market cap of $377.30 billion, a PE ratio of 22.68, a PEG ratio of 2.81 and a beta of 0.53. The stock has a 50 day moving average of $162.96 and a 200 day moving average of $155.76. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share 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 35.45%. The firm had revenue of $22.47 billion during the quarter, compared to analyst estimates of $22.17 billion. During the same period last year, the firm posted $2.66 earnings per share. Johnson & Johnson’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, research analysts expect that Johnson & Johnson will post 9.94 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be given a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 annualized dividend and a yield of 3.17%. Johnson & Johnson’s dividend payout ratio is currently 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.