Pitcairn Co. Sells 5,679 Shares of Johnson & Johnson (NYSE:JNJ)

Pitcairn Co. reduced its position in shares of Johnson & Johnson (NYSE:JNJ) by 4.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 132,339 shares of the company’s stock after selling 5,679 shares during the period. Johnson & Johnson accounts for approximately 1.3% of Pitcairn Co.’s holdings, making the stock its 13th biggest position. Pitcairn Co.’s holdings in Johnson & Johnson were worth $21,447,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Innealta Capital LLC acquired a new position in shares of Johnson & Johnson during the second quarter worth approximately $27,000. Highline Wealth Partners LLC acquired a new stake in Johnson & Johnson in the 3rd quarter worth $31,000. Mowery & Schoenfeld Wealth Management LLC increased its holdings in shares of 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 purchasing an additional 91 shares during the period. Activest Wealth Management acquired a new position in shares of Johnson & Johnson during the third 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 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. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Stock Down 0.2 %

NYSE JNJ opened at $155.14 on Friday. The stock’s 50 day simple moving average is $160.21 and its 200 day simple moving average is $156.21. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85. The firm has a market cap of $373.52 billion, a PE ratio of 22.45, a price-to-earnings-growth ratio of 2.76 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 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. 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 for the quarter, compared to analysts’ expectations of $22.17 billion. During the same quarter in the prior year, the business earned $2.66 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, sell-side analysts forecast that Johnson & Johnson will post 9.93 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be given 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 3.20%. Johnson & Johnson’s payout ratio is 71.78%.

Insider Activity

In related news, VP Robert J. Decker sold 5,635 shares of the firm’s 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 transaction, the vice president now owns 18,973 shares in the company, valued at $3,131,683.38. This trade represents a 22.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by insiders.

Analyst Ratings Changes

JNJ has been the subject of several recent research reports. Citigroup upped their price target on Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Royal Bank of Canada upped their target price on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Morgan Stanley raised their price objective on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Finally, Wolfe Research assumed coverage on shares of Johnson & Johnson in a research note on Friday, November 15th. They issued an “outperform” rating and a $190.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $175.94.

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.