Johnson & Johnson (NYSE:JNJ) Shares Sold by Tower Bridge Advisors

Tower Bridge Advisors lessened its stake in Johnson & Johnson (NYSE:JNJ) by 2.6% in the third quarter, Holdings Channel reports. The institutional investor owned 100,000 shares of the company’s stock after selling 2,635 shares during the quarter. Johnson & Johnson accounts for about 1.7% of Tower Bridge Advisors’ portfolio, making the stock its 13th largest position. Tower Bridge Advisors’ holdings in Johnson & Johnson were worth $16,206,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Innealta Capital LLC bought a new position in shares of Johnson & Johnson in the 2nd quarter worth about $27,000. Highline Wealth Partners LLC bought a new position in Johnson & Johnson in the third quarter worth about $31,000. Mowery & Schoenfeld Wealth Management LLC grew its holdings 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 purchasing an additional 91 shares during the last quarter. Morton Brown Family Wealth LLC raised its position in shares of Johnson & Johnson by 400.0% during 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. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Johnson & Johnson in the 2nd quarter worth approximately $43,000. Institutional investors own 69.55% of the company’s stock.

Insiders Place Their Bets

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

Johnson & Johnson Trading Up 1.4 %

Johnson & Johnson stock opened at $154.00 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85. The company’s fifty day simple moving average is $161.35 and its 200-day simple moving average is $156.10. The stock has a market cap of $370.77 billion, a P/E ratio of 22.29, a P/E/G 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. The company 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 business’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.66 EPS. As a group, sell-side analysts forecast that Johnson & Johnson will post 9.93 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently announced 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. This represents a $4.96 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 71.78%.

Analysts Set New Price Targets

JNJ has been the topic of several analyst reports. Guggenheim increased 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. Royal Bank of Canada lifted their price objective on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Daiwa Capital Markets cut shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Citigroup lifted 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. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research 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 company’s stock. Based on data from MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus target price 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.