Harbor Investment Advisory LLC Reduces Stake in Johnson & Johnson (NYSE:JNJ)

Harbor Investment Advisory LLC trimmed its position in shares of Johnson & Johnson (NYSE:JNJ) by 4.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,356 shares of the company’s stock after selling 2,132 shares during the period. Johnson & Johnson accounts for approximately 0.7% of Harbor Investment Advisory LLC’s portfolio, making the stock its 22nd largest holding. Harbor Investment Advisory LLC’s holdings in Johnson & Johnson were worth $7,999,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in JNJ. Morningstar Investment Services LLC grew its holdings in Johnson & Johnson by 84.8% during the 4th quarter. Morningstar Investment Services LLC now owns 14,169 shares of the company’s stock valued at $2,219,000 after buying an additional 6,503 shares in the last quarter. Wescott Financial Advisory Group LLC raised its holdings in shares of Johnson & Johnson by 3.7% in the 4th quarter. Wescott Financial Advisory Group LLC now owns 9,323 shares of the company’s stock valued at $1,461,000 after acquiring an additional 332 shares in the last quarter. Wealth Quarterback LLC grew its holdings in shares of Johnson & Johnson by 107.7% during the fourth quarter. Wealth Quarterback LLC now owns 21,746 shares of the company’s stock worth $3,408,000 after purchasing an additional 11,274 shares in the last quarter. Waterloo Capital L.P. increased its position in shares of Johnson & Johnson by 169.3% in the fourth quarter. Waterloo Capital L.P. now owns 6,806 shares of the company’s stock worth $1,067,000 after purchasing an additional 4,279 shares during the last quarter. Finally, Vermillion & White Wealth Management Group LLC bought a new stake in Johnson & Johnson during the fourth quarter valued at approximately $44,000. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Stock Down 0.1 %

JNJ traded down $0.21 during midday trading on Friday, reaching $160.29. The company’s stock had a trading volume of 5,331,694 shares, compared to its average volume of 7,091,981. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85. The firm has a market capitalization of $385.77 billion, a price-to-earnings ratio of 9.99, a PEG ratio of 2.69 and a beta of 0.52. The stock’s 50-day moving average is $162.60 and its 200-day moving average is $154.33. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, beating 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 business had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.33 billion. During the same period last year, the business earned $2.80 EPS. Johnson & Johnson’s revenue was up 4.3% compared to the same quarter last year. As a group, research analysts expect that Johnson & Johnson will post 10.02 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Insider Activity

In other news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction that occurred 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 sale, the vice president now directly 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on JNJ. TD Securities cut their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of Johnson & Johnson in a report on Friday, September 20th. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. The Goldman Sachs Group lowered their price objective on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research report on Monday, September 30th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Johnson & Johnson presently has a consensus 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.