Patten & Patten Inc. TN Sells 514 Shares of Johnson & Johnson (NYSE:JNJ)

Patten & Patten Inc. TN reduced its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 0.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 97,785 shares of the company’s stock after selling 514 shares during the period. Johnson & Johnson makes up 1.1% of Patten & Patten Inc. TN’s holdings, making the stock its 25th biggest holding. Patten & Patten Inc. TN’s holdings in Johnson & Johnson were worth $15,847,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of JNJ. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Johnson & Johnson during the 1st quarter valued at $765,000. Empowered Funds LLC raised its position in Johnson & Johnson by 46.7% in the first quarter. Empowered Funds LLC now owns 101,237 shares of the company’s stock valued at $16,015,000 after purchasing an additional 32,244 shares during the last quarter. Equity Investment Corp grew its holdings in shares of Johnson & Johnson by 6.0% during the first quarter. Equity Investment Corp now owns 88,922 shares of the company’s stock worth $14,067,000 after purchasing an additional 4,998 shares during the last quarter. Zevenbergen Capital Investments LLC increased its stake in shares of Johnson & Johnson by 3.5% in the first quarter. Zevenbergen Capital Investments LLC now owns 14,894 shares of the company’s stock valued at $2,356,000 after buying an additional 500 shares during the period. Finally, Mitsubishi UFJ Asset Management UK Ltd. raised its holdings in Johnson & Johnson by 16.7% in the 1st quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 21,000 shares of the company’s stock valued at $3,322,000 after buying an additional 3,000 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Analyst Upgrades and Downgrades

JNJ has been the subject of several recent research reports. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Guggenheim raised their target price on Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Daiwa Capital Markets lowered Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Sanford C. Bernstein raised their price objective on Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Finally, Citigroup upped their target price on Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $175.00.

Insider Buying and Selling at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction dated 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 $3,131,683.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $155.05 on Tuesday. The firm has a market capitalization of $373.30 billion, a P/E ratio of 22.44, a P/E/G ratio of 2.76 and a beta of 0.53. The firm’s 50-day moving average price is $162.61 and its 200-day moving average price is $155.91. 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 1-year low of $143.13 and a 1-year high of $168.85.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.21. The business had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.66 earnings per share. Equities research analysts anticipate that Johnson & Johnson will post 9.93 earnings per share for the current fiscal 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 dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 annualized dividend and a yield of 3.20%. Johnson & Johnson’s payout ratio is 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.