Johnson & Johnson (NYSE:JNJ) Position Trimmed by Mattern Wealth Management LLC

Mattern Wealth Management LLC decreased its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 42.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,882 shares of the company’s stock after selling 10,194 shares during the period. Mattern Wealth Management LLC’s holdings in Johnson & Johnson were worth $2,250,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Innealta Capital LLC acquired a new stake in Johnson & Johnson in the second quarter worth about $27,000. MFA Wealth Advisors LLC acquired a new stake in Johnson & Johnson in the second quarter worth about $43,000. Fairfield Financial Advisors LTD acquired a new stake in Johnson & Johnson in the second quarter worth about $46,000. Fairway Wealth LLC lifted its holdings in Johnson & Johnson by 217.1% in the second quarter. Fairway Wealth LLC now owns 333 shares of the company’s stock worth $49,000 after purchasing an additional 228 shares during the period. Finally, Quarry LP acquired a new stake in Johnson & Johnson in the second quarter worth about $49,000. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Up 0.4 %

JNJ opened at $163.45 on Wednesday. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. 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 stock has a market capitalization of $393.37 billion, a price-to-earnings ratio of 10.19, a P/E/G ratio of 2.65 and a beta of 0.52. The business has a 50 day moving average of $163.14 and a 200-day moving average of $154.84.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.21 by $0.21. The firm 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 quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business earned $2.66 earnings per share. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

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

Insider Buying and Selling

In related news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was 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 directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. This trade 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 is available through this hyperlink. 0.16% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. TD Cowen cut their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Morgan Stanley upped their target price on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Sanford C. Bernstein upped their target price on Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Wells Fargo & Company upped their target price on Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Finally, TD Securities dropped their price objective on Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Six investment 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.