Birchcreek Wealth Management LLC Sells 421 Shares of Johnson & Johnson (NYSE:JNJ)

Birchcreek Wealth Management LLC reduced its stake in shares of Johnson & Johnson (NYSE:JNJ) by 8.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,821 shares of the company’s stock after selling 421 shares during the quarter. Birchcreek Wealth Management LLC’s holdings in Johnson & Johnson were worth $781,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Empowered Funds LLC raised its holdings in Johnson & Johnson by 8.8% in the third quarter. Empowered Funds LLC now owns 171,102 shares of the company’s stock worth $27,729,000 after purchasing an additional 13,910 shares during the period. Empirical Finance LLC raised its position in shares of Johnson & Johnson by 2.0% in the 3rd quarter. Empirical Finance LLC now owns 85,434 shares of the company’s stock valued at $13,845,000 after buying an additional 1,654 shares in the last quarter. Sheaff Brock Investment Advisors LLC boosted its stake in shares of Johnson & Johnson by 137.2% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 43,568 shares of the company’s stock valued at $7,061,000 after purchasing an additional 25,203 shares during the last quarter. Black Diamond Financial LLC boosted its stake in Johnson & Johnson by 5.0% during the third quarter. Black Diamond Financial LLC now owns 2,885 shares of the company’s stock worth $467,000 after acquiring an additional 138 shares in the last quarter. Finally, CIBC Asset Management Inc raised its holdings in Johnson & Johnson by 5.6% during the third quarter. CIBC Asset Management Inc now owns 634,722 shares of the company’s stock worth $102,851,000 after buying an additional 33,454 shares during the last quarter. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ traded up $0.44 during midday trading on Friday, reaching $152.31. 974,852 shares of the company traded hands, compared to its average volume of 6,970,621. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85. The stock has a 50-day moving average price of $161.56 and a 200 day moving average price of $155.97. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. The company has a market cap of $366.70 billion, a price-to-earnings ratio of 22.04, a PEG ratio of 2.72 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results 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 net margin of 19.14% and a return on equity of 35.45%. The firm had revenue of $22.47 billion for the quarter, compared to analysts’ expectations of $22.17 billion. During the same period in the previous year, the business earned $2.66 earnings per share. Johnson & Johnson’s revenue for the quarter was up 5.2% compared to the same quarter last year. Sell-side analysts anticipate that Johnson & Johnson will post 9.93 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders 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 3.26%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 71.78%.

Insider Buying and Selling at Johnson & Johnson

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 sale, the vice president now directly owns 18,973 shares in the company, valued at approximately $3,131,683.38. The trade was a 22.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on JNJ. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Citigroup lifted their target price on shares of Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company lifted their price target on shares of Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Daiwa Capital Markets cut shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. Finally, StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus target price of $175.94.

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.