Heritage Financial Services LLC Cuts Stock Position in Johnson & Johnson (NYSE:JNJ)

Heritage Financial Services LLC lessened its stake in Johnson & Johnson (NYSE:JNJ) by 1.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 9,557 shares of the company’s stock after selling 152 shares during the quarter. Heritage Financial Services LLC’s holdings in Johnson & Johnson were worth $1,549,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Summit Wealth Partners LLC raised its position in Johnson & Johnson by 0.6% during the second quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company’s stock worth $1,463,000 after acquiring an additional 61 shares during the period. Powers Advisory Group LLC raised its position in Johnson & Johnson by 0.6% during the third quarter. Powers Advisory Group LLC now owns 9,489 shares of the company’s stock worth $1,538,000 after acquiring an additional 61 shares during the period. Citizens & Northern Corp raised its position in Johnson & Johnson by 3.5% during the second quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock worth $275,000 after acquiring an additional 63 shares during the period. Eagle Wealth Strategies LLC raised its position in Johnson & Johnson by 2.8% during the third quarter. Eagle Wealth Strategies LLC now owns 2,294 shares of the company’s stock worth $372,000 after acquiring an additional 63 shares during the period. Finally, Epic Trust Investment Advisors LLC raised its position in Johnson & Johnson by 3.6% during the second quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock worth $268,000 after acquiring an additional 64 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Trading Down 1.7 %

Shares of JNJ opened at $160.88 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $387.28 billion, a P/E ratio of 23.28, a P/E/G ratio of 2.90 and a beta of 0.52. The firm has a 50-day moving average price of $163.41 and a 200 day moving average price of $155.07. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results 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 analyst estimates of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.46%. Johnson & Johnson’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.66 earnings per share. Sell-side analysts forecast that Johnson & Johnson will post 9.94 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently declared 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 3.08%. Johnson & Johnson’s dividend payout ratio is presently 71.78%.

Insider Transactions at Johnson & Johnson

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 owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on JNJ shares. Daiwa Capital Markets cut shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Wells Fargo & Company upped their target price on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Daiwa America lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Citigroup upped their target price on shares of Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday, October 16th. 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $175.93.

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.