Patten Group Inc. Has $3.79 Million Holdings in Johnson & Johnson (NYSE:JNJ)

Patten Group Inc. reduced its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 5.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,372 shares of the company’s stock after selling 1,463 shares during the period. Johnson & Johnson accounts for approximately 0.8% of Patten Group Inc.’s investment portfolio, making the stock its 22nd biggest holding. Patten Group Inc.’s holdings in Johnson & Johnson were worth $3,788,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wellington Management Group LLP lifted its stake in Johnson & Johnson by 16.4% in the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after buying an additional 3,391,657 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Johnson & Johnson by 16.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock valued at $3,453,978,000 after purchasing an additional 3,139,499 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Johnson & Johnson by 10.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock valued at $2,744,979,000 after purchasing an additional 1,831,751 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Johnson & Johnson by 5.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 14,374,397 shares of the company’s stock worth $2,100,427,000 after purchasing an additional 754,200 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Johnson & Johnson by 16.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,147,352 shares of the company’s stock worth $1,921,565,000 after buying an additional 1,829,257 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Robert J. Decker sold 5,635 shares of the firm’s 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 sale, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.16% of the stock is owned by insiders.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $160.68 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85. The firm has a market capitalization of $386.71 billion, a P/E ratio of 10.02, a PEG ratio of 2.69 and a beta of 0.52. The business has a fifty day moving average price of $162.59 and a 200-day moving average price of $154.36.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. The company had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.80 earnings per share. As a group, equities research analysts forecast that Johnson & Johnson will post 10.02 EPS for the current year.

Johnson & Johnson Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Sanford C. Bernstein boosted their price objective on Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. TD Securities decreased their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research report on Monday, September 30th. Morgan Stanley boosted their price objective on Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Finally, The Goldman Sachs Group dropped their price objective on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.43.

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.