Sky Investment Group LLC Cuts Stock Position in Johnson & Johnson (NYSE:JNJ)

Sky Investment Group LLC lessened its stake in Johnson & Johnson (NYSE:JNJ) by 2.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 69,154 shares of the company’s stock after selling 1,520 shares during the quarter. Johnson & Johnson makes up about 2.0% of Sky Investment Group LLC’s portfolio, making the stock its 11th biggest holding. Sky Investment Group LLC’s holdings in Johnson & Johnson were worth $11,207,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in JNJ. CGN Advisors LLC increased its holdings in Johnson & Johnson by 3.1% in the 1st quarter. CGN Advisors LLC now owns 22,083 shares of the company’s stock worth $3,493,000 after acquiring an additional 664 shares in the last quarter. Strategic Planning Group LLC increased its holdings in Johnson & Johnson by 24.1% in the 1st quarter. Strategic Planning Group LLC now owns 12,289 shares of the company’s stock worth $1,944,000 after acquiring an additional 2,390 shares in the last quarter. Austin Private Wealth LLC boosted its stake in Johnson & Johnson by 5.1% during the 1st quarter. Austin Private Wealth LLC now owns 9,266 shares of the company’s stock worth $1,429,000 after purchasing an additional 453 shares during the last quarter. Crane Advisory LLC boosted its stake in Johnson & Johnson by 38.0% during the 1st quarter. Crane Advisory LLC now owns 10,707 shares of the company’s stock worth $1,633,000 after purchasing an additional 2,951 shares during the last quarter. Finally, McNaughton Wealth Management LLC boosted its stake in Johnson & Johnson by 6.9% during the 1st quarter. McNaughton Wealth Management LLC now owns 5,580 shares of the company’s stock worth $883,000 after purchasing an additional 361 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on JNJ. Daiwa America cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. TD Securities lowered their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Wells Fargo & Company lifted their target price on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Sanford C. Bernstein boosted their price target on shares of Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average target price of $175.93.

Insiders Place Their Bets

In other news, VP Robert J. Decker sold 5,635 shares of the 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 sale, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is currently owned by insiders.

Johnson & Johnson Trading Up 0.4 %

Shares of JNJ stock opened at $163.45 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. The firm has a market cap of $393.37 billion, a PE ratio of 10.19, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. The company has a 50-day moving average of $163.14 and a two-hundred day moving average of $154.84. 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 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 during the quarter, compared to analyst estimates of $22.17 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. Johnson & Johnson’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.66 earnings per share. On average, analysts predict that Johnson & Johnson will post 10 EPS for the current year.

Johnson & Johnson Announces Dividend

The business 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 dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

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.