Grassi Investment Management Decreases Position in Johnson & Johnson (NYSE:JNJ)

Grassi Investment Management lowered its position in shares of Johnson & Johnson (NYSE:JNJ) by 0.4% in the third quarter, Holdings Channel.com reports. The fund owned 59,126 shares of the company’s stock after selling 250 shares during the quarter. Grassi Investment Management’s holdings in Johnson & Johnson were worth $9,582,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Beese Fulmer Investment Management Inc. grew its holdings in shares of Johnson & Johnson by 0.5% during the third quarter. Beese Fulmer Investment Management Inc. now owns 125,084 shares of the company’s stock worth $20,271,000 after buying an additional 679 shares in the last quarter. Keene & Associates Inc. lifted its stake in Johnson & Johnson by 0.7% in the 3rd quarter. Keene & Associates Inc. now owns 19,194 shares of the company’s stock worth $3,111,000 after purchasing an additional 131 shares in the last quarter. Global Assets Advisory LLC grew its position in shares of Johnson & Johnson by 9.4% in the third quarter. Global Assets Advisory LLC now owns 7,808 shares of the company’s stock valued at $1,265,000 after purchasing an additional 670 shares in the last quarter. X Square Capital LLC increased its holdings in shares of Johnson & Johnson by 3.1% in the third quarter. X Square Capital LLC now owns 5,890 shares of the company’s stock valued at $954,000 after purchasing an additional 179 shares during the last quarter. Finally, Franklin Parlapiano Turner & Welch LLC lifted its position in Johnson & Johnson by 1.1% during the third quarter. Franklin Parlapiano Turner & Welch LLC now owns 48,439 shares of the company’s stock worth $7,850,000 after buying an additional 548 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analyst Upgrades and Downgrades

JNJ has been the subject of a number of recent research reports. Citigroup raised their target price on Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. TD Cowen decreased their target price on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Wells Fargo & Company raised their price target 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 cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada raised their target price on Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and an average price target of $175.93.

Johnson & Johnson Trading Down 1.3 %

NYSE JNJ opened at $163.67 on Friday. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85. The firm has a 50 day simple moving average of $163.29 and a 200-day simple moving average of $154.92. The firm has a market cap of $393.90 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 2.65 and a beta of 0.52. 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 (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The business had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. During the same quarter in the prior year, the company earned $2.66 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. Equities research analysts anticipate that Johnson & Johnson will post 10 EPS for the current fiscal 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 paid a dividend of $1.24 per share. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.03%. Johnson & Johnson’s payout ratio is 30.92%.

Insider Activity at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction 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 sale, the vice president now directly owns 18,973 shares in the company, valued at approximately $3,131,683.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is owned by corporate insiders.

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.