Red Spruce Capital LLC Cuts Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Red Spruce Capital LLC reduced its stake in Johnson & Johnson (NYSE:JNJ) by 2.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,544 shares of the company’s stock after selling 331 shares during the quarter. Red Spruce Capital LLC’s holdings in Johnson & Johnson were worth $1,871,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of JNJ. Summit Wealth Partners LLC increased its stake 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 last quarter. Citizens & Northern Corp raised its holdings in Johnson & Johnson by 3.5% during the 2nd quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock valued at $275,000 after buying an additional 63 shares during the period. Epic Trust Investment Advisors LLC boosted its stake in shares of Johnson & Johnson by 3.6% during the 2nd quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock worth $268,000 after purchasing an additional 64 shares during the period. Pine Harbor Wealth Management LLC raised its position in Johnson & Johnson by 1.9% in the 2nd quarter. Pine Harbor Wealth Management LLC now owns 3,472 shares of the company’s stock worth $507,000 after purchasing an additional 64 shares during the period. Finally, Outfitter Financial LLC lifted its stake in Johnson & Johnson by 0.4% in the second quarter. Outfitter Financial LLC now owns 16,632 shares of the company’s stock worth $2,431,000 after purchasing an additional 65 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors.

Insider Transactions at Johnson & Johnson

In related 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 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Down 0.1 %

Shares of NYSE JNJ traded down $0.21 during mid-day trading on Friday, reaching $160.29. 5,331,694 shares of the company were exchanged, compared to its average volume of 7,091,981. The firm has a 50-day moving average of $162.60 and a 200 day moving average of $154.31. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The stock has a market cap of $385.77 billion, a price-to-earnings ratio of 9.99, a P/E/G ratio of 2.69 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. The business had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The company’s revenue was up 4.3% compared to the same quarter last year. During the same period last year, the business earned $2.80 EPS. On average, research analysts expect that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Daiwa America downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Sanford C. Bernstein lifted their target price on Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a report on Friday, September 20th. TD Securities decreased their price objective on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Finally, Daiwa Capital Markets downgraded shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus target price of $173.21.

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.