Pinnacle Wealth Management Group Inc. Reduces Position in Johnson & Johnson (NYSE:JNJ)

Pinnacle Wealth Management Group Inc. lowered its stake in shares of Johnson & Johnson (NYSE:JNJ) by 15.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,698 shares of the company’s stock after selling 663 shares during the period. Pinnacle Wealth Management Group Inc.’s holdings in Johnson & Johnson were worth $535,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Highline Wealth Partners LLC bought a new position in shares of Johnson & Johnson during the 3rd quarter valued at $31,000. RPg Family Wealth Advisory LLC bought a new position in Johnson & Johnson in the third quarter valued at about $35,000. Mowery & Schoenfeld Wealth Management LLC boosted its position in Johnson & Johnson by 58.7% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after purchasing an additional 91 shares during the last quarter. Activest Wealth Management bought a new stake in shares of Johnson & Johnson during the 3rd quarter valued at about $40,000. Finally, Morton Brown Family Wealth LLC lifted its stake in shares of Johnson & Johnson by 400.0% in the 3rd quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock worth $41,000 after purchasing an additional 200 shares during the period. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

Shares of JNJ stock opened at $144.50 on Tuesday. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $168.85. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The stock has a fifty day simple moving average of $149.39 and a two-hundred day simple moving average of $156.10. The stock has a market capitalization of $347.90 billion, a price-to-earnings ratio of 20.91, a P/E/G ratio of 2.52 and a beta of 0.51.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, October 15th. The company reported $2.42 EPS 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 business had revenue of $22.47 billion for the quarter, compared to the consensus estimate of $22.17 billion. During the same quarter last year, the firm posted $2.66 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, analysts predict that Johnson & Johnson will post 9.94 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a yield of 3.43%. Johnson & Johnson’s dividend payout ratio is currently 71.78%.

Insider Buying and Selling at Johnson & Johnson

In related news, Director Mark A. Weinberger acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average price of $147.22 per share, with a total value of $147,220.00. Following the completion of the transaction, the director now directly owns 1,000 shares in the company, valued at $147,220. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Bank of America reiterated a “neutral” rating and issued a $166.00 price target on shares of Johnson & Johnson in a research report on Tuesday, December 10th. StockNews.com downgraded Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 7th. Citigroup reduced their price target on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Royal Bank of Canada lifted their price target on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Wolfe Research assumed coverage on Johnson & Johnson in a research note on Friday, November 15th. They issued an “outperform” rating and a $190.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.71.

About Johnson & Johnson

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.