Johnson & Johnson (NYSE:JNJ) Shares Sold by Convergence Financial LLC

Convergence Financial LLC trimmed its holdings in Johnson & Johnson (NYSE:JNJ) by 23.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,445 shares of the company’s stock after selling 1,664 shares during the period. Convergence Financial LLC’s holdings in Johnson & Johnson were worth $882,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Meridian Financial Partners LLC acquired a new stake in shares of Johnson & Johnson in the second quarter valued at about $1,626,000. Summit Financial Wealth Advisors LLC increased its position 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 worth $853,000 after purchasing an additional 1,122 shares during the last quarter. Franklin Parlapiano Turner & Welch LLC increased its position in Johnson & Johnson by 0.7% during the first quarter. Franklin Parlapiano Turner & Welch LLC now owns 47,186 shares of the company’s stock worth $7,464,000 after purchasing an additional 325 shares during the last quarter. Capital Asset Advisory Services LLC increased its position in Johnson & Johnson by 8.8% during the first quarter. Capital Asset Advisory Services LLC now owns 26,539 shares of the company’s stock worth $4,044,000 after purchasing an additional 2,151 shares during the last quarter. Finally, NTV Asset Management LLC increased its position in Johnson & Johnson by 1.6% during the first quarter. NTV Asset Management LLC now owns 36,000 shares of the company’s stock worth $5,695,000 after purchasing an additional 565 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on JNJ. Citigroup raised their price objective on shares of Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. TD Securities cut their price objective on shares of Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Royal Bank of Canada lifted their price target on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Daiwa America cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $175.93.

Johnson & Johnson Trading Down 1.7 %

NYSE JNJ opened at $160.88 on Friday. The firm has a 50 day simple moving average of $163.41 and a 200-day simple moving average of $155.07. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85. The firm has a market cap of $387.28 billion, a price-to-earnings ratio of 23.28, a PEG ratio of 2.90 and a beta of 0.52.

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

Johnson & Johnson Dividend Announcement

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

Insider Buying and Selling

In related 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 transaction, the vice president now 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 Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is owned by insiders.

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.