Armstrong Henry H Associates Inc. Has $58.35 Million Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Armstrong Henry H Associates Inc. decreased its position in Johnson & Johnson (NYSE:JNJ) by 1.8% during the third quarter, HoldingsChannel.com reports. The fund owned 360,023 shares of the company’s stock after selling 6,527 shares during the quarter. Johnson & Johnson comprises 5.6% of Armstrong Henry H Associates Inc.’s investment portfolio, making the stock its 5th biggest position. Armstrong Henry H Associates Inc.’s holdings in Johnson & Johnson were worth $58,345,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of JNJ. Eagle Asset Management Inc. purchased a new position in shares of Johnson & Johnson in the 4th quarter worth $1,446,000. Gabelli Funds LLC lifted its stake in shares of Johnson & Johnson by 1.3% in the 4th quarter. Gabelli Funds LLC now owns 201,085 shares of the company’s stock valued at $31,518,000 after purchasing an additional 2,550 shares during the last quarter. Exencial Wealth Advisors LLC boosted its holdings in shares of Johnson & Johnson by 6.6% in the 4th quarter. Exencial Wealth Advisors LLC now owns 48,605 shares of the company’s stock worth $7,618,000 after purchasing an additional 2,991 shares during the period. Pinnacle West Asset Management Inc. raised its holdings in Johnson & Johnson by 4.1% during the 4th quarter. Pinnacle West Asset Management Inc. now owns 15,220 shares of the company’s stock valued at $2,386,000 after buying an additional 600 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in Johnson & Johnson by 0.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 3,968,580 shares of the company’s stock worth $622,035,000 after buying an additional 11,151 shares during the period. 69.55% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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 transaction of $930,113.10. Following the sale, the vice president now directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on JNJ shares. Daiwa Capital Markets lowered shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $160.00 to $150.00 in a report on Tuesday, July 23rd. The Goldman Sachs Group cut their price target on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. TD Securities decreased their price objective on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. TD Cowen dropped 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 note on Thursday, July 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price target on shares of Johnson & Johnson in a research note on Friday, September 20th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $173.21.

Johnson & Johnson Price Performance

Shares of JNJ opened at $161.17 on Thursday. The firm has a market capitalization of $387.88 billion, a PE ratio of 10.05, a price-to-earnings-growth ratio of 2.69 and a beta of 0.53. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. The company’s fifty day moving average price is $162.60 and its 200-day moving average price is $154.26. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The company had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.33 billion. During the same period last year, the firm posted $2.80 EPS. Johnson & Johnson’s revenue for the quarter 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 business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

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.