Quest Partners LLC Sells 4,462 Shares of Johnson & Johnson (NYSE:JNJ)

Quest Partners LLC cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 34.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 8,521 shares of the company’s stock after selling 4,462 shares during the quarter. Quest Partners LLC’s holdings in Johnson & Johnson were worth $1,381,000 at the end of the most recent reporting period.

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

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $152.97 on Wednesday. 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 fifty day simple moving average of $160.83 and a two-hundred day simple moving average of $156.19. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85. The firm has a market capitalization of $368.29 billion, a PE ratio of 22.14, a price-to-earnings-growth ratio of 2.74 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. The company had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.66 EPS. Analysts forecast that Johnson & Johnson will post 9.93 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. This represents a $4.96 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s payout ratio is currently 71.78%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on JNJ. Wells Fargo & Company increased their price target on Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Guggenheim boosted their price target on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Daiwa Capital Markets cut shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Citigroup boosted their target price on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley increased their price target on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.94.

Insider Buying and Selling at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the 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 completion of the sale, the vice president now owns 18,973 shares in the company, valued at $3,131,683.38. This represents a 22.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.16% of the company’s stock.

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.