Spinnaker Investment Group LLC Reduces Holdings in Johnson & Johnson (NYSE:JNJ)

Spinnaker Investment Group LLC lowered its stake in Johnson & Johnson (NYSE:JNJ) by 1.4% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,969 shares of the company’s stock after selling 127 shares during the quarter. Johnson & Johnson makes up about 0.4% of Spinnaker Investment Group LLC’s holdings, making the stock its 26th biggest position. Spinnaker Investment Group LLC’s holdings in Johnson & Johnson were worth $1,454,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Innealta Capital LLC acquired a new stake in shares of Johnson & Johnson during the second quarter valued at $27,000. Highline Wealth Partners LLC acquired a new position in shares of Johnson & Johnson in the third quarter valued at approximately $31,000. Mowery & Schoenfeld Wealth Management LLC lifted its stake in shares of Johnson & Johnson by 58.7% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after buying an additional 91 shares during the period. Morton Brown Family Wealth LLC lifted its stake in shares of Johnson & Johnson by 400.0% during the third 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 during the period. Finally, MFA Wealth Advisors LLC purchased a new stake in Johnson & Johnson in the 2nd quarter worth approximately $43,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $154.00 on Friday. The firm’s fifty day simple moving average is $161.35 and its 200 day simple moving average is $156.10. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $168.85. The firm has a market capitalization of $370.77 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 2.74 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The company had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. During the same quarter in the prior year, the business earned $2.66 earnings per share. The company’s revenue was up 5.2% compared to the same quarter last year. As a group, equities research analysts expect that Johnson & Johnson will post 9.93 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be paid a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.22%. Johnson & Johnson’s dividend payout ratio is currently 71.78%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on JNJ shares. Daiwa America lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Daiwa Capital Markets lowered Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Wolfe Research assumed coverage on Johnson & Johnson in a report on Friday. They issued an “outperform” rating and a $190.00 price target for the company. Wells Fargo & Company increased their price objective on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Finally, Citigroup boosted their target price on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $175.94.

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of 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 22.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

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.