GUNN & Co INVESTMENT MANAGEMENT INC. Trims Stock Holdings in Johnson & Johnson (NYSE:JNJ)

GUNN & Co INVESTMENT MANAGEMENT INC. reduced its stake in Johnson & Johnson (NYSE:JNJ) by 92.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,568 shares of the company’s stock after selling 241,657 shares during the period. Johnson & Johnson makes up about 2.3% of GUNN & Co INVESTMENT MANAGEMENT INC.’s holdings, making the stock its 17th largest holding. GUNN & Co INVESTMENT MANAGEMENT INC.’s holdings in Johnson & Johnson were worth $3,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. Summit Wealth Partners LLC increased its position in shares of Johnson & Johnson by 0.6% during the second quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company’s stock valued at $1,463,000 after buying an additional 61 shares during the period. Powers Advisory Group LLC boosted its stake in Johnson & Johnson by 0.6% during the third quarter. Powers Advisory Group LLC now owns 9,489 shares of the company’s stock valued at $1,538,000 after buying an additional 61 shares during the period. Citizens & Northern Corp increased its stake in Johnson & Johnson by 3.5% in the 2nd quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock worth $275,000 after acquiring an additional 63 shares during the last quarter. Eagle Wealth Strategies LLC raised its holdings in shares of Johnson & Johnson by 2.8% in the 3rd quarter. Eagle Wealth Strategies LLC now owns 2,294 shares of the company’s stock valued at $372,000 after acquiring an additional 63 shares in the last quarter. Finally, Epic Trust Investment Advisors LLC boosted its position in shares of Johnson & Johnson by 3.6% during the 2nd quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock valued at $268,000 after acquiring an additional 64 shares during the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the transaction, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.16% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on JNJ. Morgan Stanley raised their target price on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Citigroup lifted their price objective on shares of Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Wednesday, October 16th. The Goldman Sachs Group reduced their price objective on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Finally, Wells Fargo & Company upped their target price on Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus target price of $175.93.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ opened at $163.67 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The company has a market cap of $393.90 billion, a price-to-earnings ratio of 10.20, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85. The company has a 50-day moving average price of $163.29 and a 200-day moving average price of $154.92.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The business had revenue of $22.47 billion for the quarter, compared to the consensus estimate of $22.17 billion. During the same period in the previous year, the firm earned $2.66 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, equities analysts anticipate that Johnson & Johnson will post 10 EPS for the current year.

Johnson & Johnson Announces Dividend

The company 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 $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.03%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

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.