Wallington Asset Management LLC Has $14.31 Million Position in Johnson & Johnson (NYSE:JNJ)

Wallington Asset Management LLC grew its holdings in Johnson & Johnson (NYSE:JNJ) by 3.4% during the third quarter, Holdings Channel.com reports. The firm owned 88,324 shares of the company’s stock after acquiring an additional 2,889 shares during the period. Johnson & Johnson accounts for about 2.0% of Wallington Asset Management LLC’s portfolio, making the stock its 19th largest position. Wallington Asset Management LLC’s holdings in Johnson & Johnson were worth $14,314,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Eagle Bay Advisors LLC boosted its stake in Johnson & Johnson by 2.3% in the third quarter. Eagle Bay Advisors LLC now owns 5,042 shares of the company’s stock worth $817,000 after purchasing an additional 114 shares in the last quarter. Iron Horse Wealth Management LLC raised its position in shares of Johnson & Johnson by 55.9% during the third quarter. Iron Horse Wealth Management LLC now owns 2,474 shares of the company’s stock worth $401,000 after acquiring an additional 887 shares during the last quarter. Detalus Advisors LLC raised its position in shares of Johnson & Johnson by 6.0% during the third quarter. Detalus Advisors LLC now owns 4,907 shares of the company’s stock worth $795,000 after acquiring an additional 277 shares during the last quarter. Coston McIsaac & Partners raised its position in shares of Johnson & Johnson by 2.5% during the third quarter. Coston McIsaac & Partners now owns 37,483 shares of the company’s stock worth $6,074,000 after acquiring an additional 924 shares during the last quarter. Finally, Syntegra Private Wealth Group LLC raised its position in shares of Johnson & Johnson by 13.2% during the third quarter. Syntegra Private Wealth Group LLC now owns 2,023 shares of the company’s stock worth $328,000 after acquiring an additional 236 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Insider Transactions at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is owned by insiders.

Johnson & Johnson Stock Down 1.3 %

Shares of Johnson & Johnson stock opened at $163.67 on Friday. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85. The business has a 50-day moving average of $163.29 and a two-hundred day moving average of $154.92. The company has a market capitalization of $393.90 billion, a P/E ratio of 10.20, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. 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 (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.21. The company had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. Johnson & Johnson’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.66 earnings per share. As a group, equities analysts predict that Johnson & Johnson will post 10 EPS for the current year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 annualized dividend and a dividend yield of 3.03%. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on JNJ. Daiwa America downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group dropped their target price on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Morgan Stanley boosted their target price on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. TD Securities dropped their price objective on Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Finally, Daiwa Capital Markets downgraded Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $175.93.

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.