Perkins Capital Management Inc. Cuts Holdings in Johnson & Johnson (NYSE:JNJ)

Perkins Capital Management Inc. lowered its stake in shares of Johnson & Johnson (NYSE:JNJ) by 17.8% in the third quarter, Holdings Channel reports. The institutional investor owned 1,850 shares of the company’s stock after selling 400 shares during the period. Perkins Capital Management Inc.’s holdings in Johnson & Johnson were worth $300,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Innealta Capital LLC acquired a new stake in Johnson & Johnson in the second quarter valued at approximately $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Johnson & Johnson in the 3rd quarter worth $31,000. Mowery & Schoenfeld Wealth Management LLC grew its stake in Johnson & Johnson by 58.7% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after buying an additional 91 shares during the last quarter. Morton Brown Family Wealth LLC increased its position in Johnson & Johnson by 400.0% during the 3rd quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock valued at $41,000 after buying an additional 200 shares in the last quarter. Finally, MFA Wealth Advisors LLC acquired a new stake in Johnson & Johnson in the second quarter worth about $43,000. Institutional investors own 69.55% of the company’s stock.

Insider Activity

In related news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson 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 approximately $3,131,683.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on JNJ. Morgan Stanley upped their price objective on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. TD Cowen lowered their price objective on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Sanford C. Bernstein boosted their price target on Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.00.

Johnson & Johnson Price Performance

NYSE:JNJ opened at $156.71 on Friday. The company has a 50 day moving average price of $162.96 and a 200-day moving average price of $155.76. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. The firm has a market cap of $377.30 billion, a price-to-earnings ratio of 22.68, a price-to-earnings-growth ratio of 2.81 and a beta of 0.53. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The company had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. During the same quarter in the previous year, the company earned $2.66 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts forecast that Johnson & Johnson will post 9.94 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.17%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s payout ratio is currently 71.78%.

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.