Old North State Trust LLC Sells 485 Shares of Johnson & Johnson (NYSE:JNJ)

Old North State Trust LLC trimmed its position in Johnson & Johnson (NYSE:JNJ) by 6.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,433 shares of the company’s stock after selling 485 shares during the quarter. Johnson & Johnson comprises approximately 0.9% of Old North State Trust LLC’s holdings, making the stock its 24th largest position. Old North State Trust LLC’s holdings in Johnson & Johnson were worth $1,086,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in JNJ. Citizens & Northern Corp lifted its holdings in Johnson & Johnson by 3.5% in the 2nd quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock worth $275,000 after buying an additional 63 shares during the period. Epic Trust Investment Advisors LLC increased its position in shares of Johnson & Johnson by 3.6% during the second quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock valued at $268,000 after buying an additional 64 shares during the period. Pine Harbor Wealth Management LLC raised its stake in Johnson & Johnson by 1.9% in the second quarter. Pine Harbor Wealth Management LLC now owns 3,472 shares of the company’s stock worth $507,000 after buying an additional 64 shares in the last quarter. Outfitter Financial LLC lifted its holdings in Johnson & Johnson by 0.4% in the second quarter. Outfitter Financial LLC now owns 16,632 shares of the company’s stock worth $2,431,000 after buying an additional 65 shares during the period. Finally, Forza Wealth Management LLC boosted its position in Johnson & Johnson by 0.8% during the 2nd quarter. Forza Wealth Management LLC now owns 8,742 shares of the company’s stock valued at $1,278,000 after acquiring an additional 66 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

JNJ opened at $161.40 on Monday. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85. The company’s 50 day moving average is $162.15 and its 200 day moving average is $154.16. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The company has a market cap of $388.44 billion, a price-to-earnings ratio of 10.06, a PEG ratio of 2.69 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The company had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.33 billion. During the same period in the previous year, the firm earned $2.80 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. On average, equities research analysts predict that Johnson & Johnson will post 10.02 EPS for the current year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were given a dividend of $1.24 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.07%. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the sale, the vice president now directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Sanford C. Bernstein lifted their price target on Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. TD Cowen reduced their target price on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Morgan Stanley lifted their target price on shares of Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Monday, September 23rd. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and an average price target of $173.21.

About Johnson & Johnson

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.