Bank of Stockton Cuts Stock Position in Johnson & Johnson (NYSE:JNJ)

Bank of Stockton decreased its holdings in Johnson & Johnson (NYSE:JNJ) by 7.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,189 shares of the company’s stock after selling 320 shares during the period. Bank of Stockton’s holdings in Johnson & Johnson were worth $679,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Meridian Financial Partners LLC bought a new position in shares of Johnson & Johnson during the 2nd quarter valued at about $1,626,000. Summit Financial Wealth Advisors LLC boosted its stake in Johnson & Johnson by 26.3% during the first quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock valued at $853,000 after buying an additional 1,122 shares during the last quarter. Franklin Parlapiano Turner & Welch LLC grew its holdings in Johnson & Johnson by 0.7% during the 1st quarter. Franklin Parlapiano Turner & Welch LLC now owns 47,186 shares of the company’s stock valued at $7,464,000 after buying an additional 325 shares in the last quarter. Capital Asset Advisory Services LLC increased its stake in Johnson & Johnson by 8.8% in the 1st quarter. Capital Asset Advisory Services LLC now owns 26,539 shares of the company’s stock worth $4,044,000 after acquiring an additional 2,151 shares during the last quarter. Finally, NTV Asset Management LLC boosted its position in shares of Johnson & Johnson by 1.6% during the 1st quarter. NTV Asset Management LLC now owns 36,000 shares of the company’s stock valued at $5,695,000 after acquiring an additional 565 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

JNJ has been the topic of several research reports. Wells Fargo & Company boosted their price target on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Citigroup upped their target price on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. TD Securities dropped their price target on Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. The Goldman Sachs Group decreased their price objective on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Finally, TD Cowen dropped their target price on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average price target of $175.93.

Insider Buying and Selling

In other news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction dated 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 owns 18,973 shares in the company, valued at approximately $3,131,683.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is owned by insiders.

Johnson & Johnson Trading Down 1.7 %

Shares of JNJ opened at $160.88 on Friday. The firm has a market capitalization of $387.28 billion, a price-to-earnings ratio of 23.28, a PEG ratio of 2.90 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 has a 1-year low of $143.13 and a 1-year high of $168.85. The company has a 50-day moving average of $163.41 and a 200 day moving average of $155.07.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. The firm had revenue of $22.47 billion during the quarter, compared to analyst estimates of $22.17 billion. Johnson & Johnson had a return on equity of 35.46% and a net margin of 19.14%. Johnson & Johnson’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.66 earnings per share. On average, research analysts expect that Johnson & Johnson will post 9.94 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be issued a $1.24 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 annualized dividend and a dividend yield of 3.08%. Johnson & Johnson’s payout ratio is currently 71.78%.

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.