Grimes & Company Inc. Acquires 1,776 Shares of Johnson & Johnson (NYSE:JNJ)

Grimes & Company Inc. grew its stake in shares of Johnson & Johnson (NYSE:JNJ) by 1.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 100,742 shares of the company’s stock after purchasing an additional 1,776 shares during the period. Grimes & Company Inc.’s holdings in Johnson & Johnson were worth $16,326,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of JNJ. Innealta Capital LLC purchased a new position in Johnson & Johnson during the second quarter worth about $27,000. MFA Wealth Advisors LLC purchased a new position in shares of Johnson & Johnson in the 2nd quarter worth approximately $43,000. Fairfield Financial Advisors LTD purchased a new stake in shares of Johnson & Johnson during the second quarter valued at approximately $46,000. Fairway Wealth LLC lifted its holdings in Johnson & Johnson by 217.1% during the second quarter. Fairway Wealth LLC now owns 333 shares of the company’s stock worth $49,000 after acquiring an additional 228 shares during the period. Finally, Quarry LP purchased a new position in Johnson & Johnson in the second quarter worth $49,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Down 1.3 %

JNJ opened at $163.67 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85. The firm has a market capitalization of $393.90 billion, a P/E ratio of 10.20, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. The company has a fifty day moving average price of $163.29 and a 200-day moving average price of $154.92.

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 analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The business had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. During the same period in the prior year, the company earned $2.66 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. Equities research analysts expect that Johnson & Johnson will post 10 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s payout ratio is 30.92%.

Wall Street Analysts Forecast Growth

JNJ has been the topic of a number of recent analyst reports. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Citigroup raised their price target on shares of Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Royal Bank of Canada boosted 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. Daiwa Capital Markets downgraded shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. Finally, TD Cowen lowered their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock 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 given a strong buy rating to the company. According to data from MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average target price of $175.93.

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction on 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 of the company’s stock, valued at $3,131,683.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is currently owned by insiders.

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.