Pekin Hardy Strauss Inc. Has $4.25 Million Holdings in Johnson & Johnson (NYSE:JNJ)

Pekin Hardy Strauss Inc. reduced its position in Johnson & Johnson (NYSE:JNJ) by 2.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,253 shares of the company’s stock after selling 528 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Johnson & Johnson were worth $4,254,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of JNJ. China Universal Asset Management Co. Ltd. bought a new position in Johnson & Johnson in the first quarter valued at about $765,000. Lavaca Capital LLC boosted its stake in shares of Johnson & Johnson by 1.3% in the 1st quarter. Lavaca Capital LLC now owns 6,418 shares of the company’s stock valued at $1,015,000 after purchasing an additional 85 shares during the last quarter. Kinloch Capital LLC grew its position in shares of Johnson & Johnson by 13.8% during the 1st quarter. Kinloch Capital LLC now owns 16,009 shares of the company’s stock worth $2,532,000 after buying an additional 1,944 shares during the period. Waverly Advisors LLC raised its stake in shares of Johnson & Johnson by 30.1% during the first quarter. Waverly Advisors LLC now owns 100,631 shares of the company’s stock worth $15,919,000 after buying an additional 23,297 shares during the last quarter. Finally, Bayesian Capital Management LP bought a new position in Johnson & Johnson in the first quarter valued at approximately $3,275,000. 69.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on JNJ shares. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Morgan Stanley upped their price target on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Citigroup lifted their price objective on shares of Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Royal Bank of Canada lifted their price target on shares of Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Guggenheim upped their price objective on shares of Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus price target of $175.94.

Insiders Place Their Bets

In related news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson 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 owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The trade was a 22.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Down 0.2 %

JNJ stock opened at $155.17 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. The stock has a market capitalization of $373.59 billion, a P/E ratio of 22.46, a P/E/G ratio of 2.76 and a beta of 0.53. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $168.85. The business has a 50-day moving average of $160.21 and a 200-day moving average of $156.26.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results 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. The firm had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.66 EPS. On average, sell-side analysts anticipate that Johnson & Johnson will post 9.93 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

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. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 annualized dividend and a yield of 3.20%. 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.