First Citizens Bank & Trust Co. Acquires 15,693 Shares of Johnson & Johnson (NYSE:JNJ)

First Citizens Bank & Trust Co. boosted its holdings in Johnson & Johnson (NYSE:JNJ) by 27.0% during the third quarter, HoldingsChannel.com reports. The fund owned 73,913 shares of the company’s stock after purchasing an additional 15,693 shares during the period. First Citizens Bank & Trust Co.’s holdings in Johnson & Johnson were worth $11,978,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in JNJ. Capital Investment Advisors LLC raised its holdings in shares of Johnson & Johnson by 4.6% in the 3rd quarter. Capital Investment Advisors LLC now owns 415,748 shares of the company’s stock worth $67,376,000 after buying an additional 18,303 shares in the last quarter. Blue Trust Inc. lifted its holdings in Johnson & Johnson by 37.6% during the 3rd quarter. Blue Trust Inc. now owns 49,034 shares of the company’s stock valued at $7,946,000 after purchasing an additional 13,393 shares during the last quarter. Moss Adams Wealth Advisors LLC boosted its position in Johnson & Johnson by 56.3% in the third quarter. Moss Adams Wealth Advisors LLC now owns 6,998 shares of the company’s stock valued at $1,134,000 after buying an additional 2,522 shares in the last quarter. Accurate Wealth Management LLC grew its stake in Johnson & Johnson by 24.1% during the third quarter. Accurate Wealth Management LLC now owns 21,408 shares of the company’s stock worth $3,512,000 after buying an additional 4,157 shares during the last quarter. Finally, Sage Financial Management Group Inc. bought a new position in shares of Johnson & Johnson in the third quarter valued at approximately $536,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Insiders Place Their Bets

In other news, VP Robert J. Decker sold 5,635 shares of the business’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 owns 18,973 shares of the company’s stock, 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 document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on JNJ shares. TD Cowen decreased their price target on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research report on Wednesday. TD Securities dropped their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Morgan Stanley raised their price target on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Sanford C. Bernstein upped their price objective on Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Six investment 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $175.93.

Johnson & Johnson Price Performance

JNJ opened at $165.12 on Friday. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85. The company has a fifty day simple moving average of $162.98 and a 200 day simple moving average of $154.69. The stock has a market cap of $397.39 billion, a P/E ratio of 10.29, a P/E/G ratio of 2.65 and a beta of 0.52. 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 announced 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 for the quarter, compared to the consensus estimate of $22.17 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the company posted $2.66 EPS. On average, research analysts expect that Johnson & Johnson will post 10 EPS 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. This represents a $4.96 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

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.