Crescent Grove Advisors LLC Cuts Position in Johnson & Johnson (NYSE:JNJ)

Crescent Grove Advisors LLC reduced its holdings in Johnson & Johnson (NYSE:JNJ) by 7.6% during the 3rd quarter, Holdings Channel reports. The firm owned 4,647 shares of the company’s stock after selling 382 shares during the quarter. Crescent Grove Advisors LLC’s holdings in Johnson & Johnson were worth $753,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Innealta Capital LLC purchased a new stake in Johnson & Johnson in the 2nd quarter worth $27,000. Highline Wealth Partners LLC purchased a new stake in shares of Johnson & Johnson during the third quarter worth about $31,000. Mowery & Schoenfeld Wealth Management LLC raised its position in shares of Johnson & Johnson by 58.7% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after purchasing an additional 91 shares during the last quarter. Morton Brown Family Wealth LLC lifted its stake in Johnson & Johnson by 400.0% in the 3rd 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 in the last quarter. Finally, MFA Wealth Advisors LLC purchased a new stake in Johnson & Johnson during the 2nd quarter worth approximately $43,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $158.35 on Wednesday. The stock has a market capitalization of $381.25 billion, a P/E ratio of 22.92, a PEG ratio of 2.84 and a beta of 0.53. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $168.85. The company has a 50 day moving average price of $163.09 and a 200 day moving average price of $155.75.

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, beating the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The firm had revenue of $22.47 billion for the quarter, compared to the consensus estimate of $22.17 billion. During the same quarter in the previous year, the business earned $2.66 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. Equities research analysts forecast that Johnson & Johnson will post 9.94 EPS for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 71.78%.

Insiders Place Their Bets

In other Johnson & Johnson 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 in the company, valued at $3,131,683.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.16% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on JNJ shares. Royal Bank of Canada lifted their price target on Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. TD Securities dropped their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Citigroup upped their price objective on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley raised their target price on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Six research 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $175.93.

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.