Spinnaker Investment Group LLC Reduces Stock Position in Johnson & Johnson (NYSE:JNJ)

Spinnaker Investment Group LLC reduced its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 1.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 8,969 shares of the company’s stock after selling 127 shares during the period. Johnson & Johnson accounts for 0.4% of Spinnaker Investment Group LLC’s portfolio, making the stock its 26th biggest position. Spinnaker Investment Group LLC’s holdings in Johnson & Johnson were worth $1,454,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Summit Wealth Partners LLC raised its stake in shares of Johnson & Johnson by 0.6% in the second quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company’s stock valued at $1,463,000 after purchasing an additional 61 shares in the last quarter. Powers Advisory Group LLC increased its holdings in Johnson & Johnson by 0.6% in the 3rd quarter. Powers Advisory Group LLC now owns 9,489 shares of the company’s stock valued at $1,538,000 after buying an additional 61 shares during the period. Citizens & Northern Corp lifted its holdings in shares of Johnson & Johnson by 3.5% during the 2nd quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock worth $275,000 after acquiring an additional 63 shares during the period. Eagle Wealth Strategies LLC boosted its position in shares of Johnson & Johnson by 2.8% during the 3rd quarter. Eagle Wealth Strategies LLC now owns 2,294 shares of the company’s stock valued at $372,000 after acquiring an additional 63 shares in the last quarter. Finally, Epic Trust Investment Advisors LLC increased its stake in Johnson & Johnson by 3.6% in the second quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock valued at $268,000 after acquiring an additional 64 shares during the period. Institutional investors own 69.55% of the company’s stock.

Insider Buying and Selling

In other news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the transaction, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. This trade represents a 22.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Daiwa America cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Wolfe Research initiated coverage on Johnson & Johnson in a report on Friday. They issued an “outperform” rating and a $190.00 target price for the company. Citigroup boosted their price target on Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Finally, Guggenheim upped 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, November 6th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $175.94.

Johnson & Johnson Trading Up 1.4 %

Shares of NYSE JNJ opened at $154.00 on Friday. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. 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 company has a 50-day moving average of $161.35 and a two-hundred day moving average of $156.10. The company has a market cap of $370.77 billion, a PE ratio of 22.29, a P/E/G ratio of 2.74 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data 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 firm had revenue of $22.47 billion for the quarter, compared to the consensus estimate of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.66 EPS. As a group, equities analysts expect that Johnson & Johnson will post 9.93 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio is 71.78%.

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.