Johnson & Johnson (NYSE:JNJ) Shares Purchased by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. grew its position in Johnson & Johnson (NYSE:JNJ) by 2.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,307,304 shares of the company’s stock after acquiring an additional 29,597 shares during the quarter. Johnson & Johnson comprises about 3.2% of Pinnacle Associates Ltd.’s holdings, making the stock its 3rd largest position. Pinnacle Associates Ltd.’s holdings in Johnson & Johnson were worth $204,907,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of JNJ. International Assets Investment Management LLC boosted its holdings in shares of Johnson & Johnson by 20,130.0% in the third quarter. International Assets Investment Management LLC now owns 3,454,473 shares of the company’s stock valued at $559,832,000 after acquiring an additional 3,437,397 shares during the period. Marshall Wace LLP boosted its holdings in shares of Johnson & Johnson by 506.9% in the second quarter. Marshall Wace LLP now owns 3,884,962 shares of the company’s stock valued at $567,826,000 after acquiring an additional 3,244,862 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Johnson & Johnson by 16.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock valued at $3,453,978,000 after acquiring an additional 3,139,499 shares during the period. Ninety One UK Ltd raised its stake in shares of Johnson & Johnson by 59.0% during the second quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock worth $980,579,000 after purchasing an additional 2,489,925 shares during the last quarter. Finally, Swedbank AB purchased a new stake in shares of Johnson & Johnson during the first quarter worth approximately $331,178,000. 69.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Wells Fargo & Company upped their price target on Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Morgan Stanley upped their price target on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group cut their price objective on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Finally, TD Securities cut their price objective on Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and an average target price of $175.93.

Johnson & Johnson Trading Down 0.5 %

Shares of JNJ stock opened at $159.86 on Friday. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $168.85. The stock has a market cap of $384.88 billion, a P/E ratio of 23.13, a P/E/G ratio of 2.90 and a beta of 0.52. The business has a fifty day simple moving average of $163.39 and a 200-day simple moving average of $155.35. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

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

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s payout ratio is 71.78%.

Insiders Place Their Bets

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was 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 of the company’s stock, valued at approximately $3,131,683.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is owned by corporate insiders.

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.