Johnson & Johnson (NYSE:JNJ) Shares Acquired by Pinnacle Holdings LLC

Pinnacle Holdings LLC increased its holdings in Johnson & Johnson (NYSE:JNJGet Rating) by 0.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 15,678 shares of the company’s stock after buying an additional 141 shares during the period. Johnson & Johnson comprises approximately 1.3% of Pinnacle Holdings LLC’s holdings, making the stock its 19th biggest position. Pinnacle Holdings LLC’s holdings in Johnson & Johnson were worth $2,783,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Johnson & Johnson by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 238,141,110 shares of the company’s stock valued at $42,205,749,000 after purchasing an additional 3,358,478 shares during the last quarter. BlackRock Inc. lifted its position in Johnson & Johnson by 0.4% in the 1st quarter. BlackRock Inc. now owns 200,799,189 shares of the company’s stock valued at $35,587,638,000 after purchasing an additional 777,837 shares during the last quarter. Wellington Management Group LLP lifted its position in Johnson & Johnson by 0.8% in the 1st quarter. Wellington Management Group LLP now owns 32,772,594 shares of the company’s stock valued at $5,808,286,000 after purchasing an additional 265,330 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Johnson & Johnson by 1.6% in the 1st quarter. Bank of New York Mellon Corp now owns 32,070,396 shares of the company’s stock valued at $5,683,837,000 after purchasing an additional 509,818 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Johnson & Johnson by 1.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 17,189,229 shares of the company’s stock valued at $3,046,449,000 after purchasing an additional 328,297 shares during the last quarter. 68.59% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 76,923 shares of Johnson & Johnson stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $176.78, for a total value of $13,598,447.94. Following the transaction, the executive vice president now directly owns 126,456 shares of the company’s stock, valued at $22,354,891.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Jennifer L. Taubert sold 76,923 shares of Johnson & Johnson stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $176.78, for a total value of $13,598,447.94. Following the transaction, the executive vice president now directly owns 126,456 shares of the company’s stock, valued at $22,354,891.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider William Hait sold 15,000 shares of Johnson & Johnson stock in a transaction that occurred on Monday, October 24th. The stock was sold at an average price of $171.55, for a total transaction of $2,573,250.00. Following the completion of the transaction, the insider now directly owns 80,236 shares in the company, valued at $13,764,485.80. The disclosure for this sale can be found here. Insiders have sold a total of 212,646 shares of company stock valued at $36,791,022 over the last ninety days. Corporate insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Raymond James cut their price objective on shares of Johnson & Johnson from $192.00 to $185.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 19th. Atlantic Securities dropped their price target on shares of Johnson & Johnson from $165.00 to $160.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 19th. Morgan Stanley dropped their price target on shares of Johnson & Johnson from $174.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 19th. StockNews.com assumed coverage on shares of Johnson & Johnson in a research report on Wednesday, October 12th. They set a “strong-buy” rating on the stock. Finally, Credit Suisse Group assumed coverage on shares of Johnson & Johnson in a research report on Thursday, November 17th. They set a “neutral” rating and a $170.00 price target on the stock. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $181.33.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $177.01 on Thursday. The firm’s 50 day moving average is $168.35 and its 200-day moving average is $171.28. The stock has a market capitalization of $462.79 billion, a P/E ratio of 24.65, a P/E/G ratio of 3.49 and a beta of 0.57. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.43 and a quick ratio of 1.18. Johnson & Johnson has a 12-month low of $155.72 and a 12-month high of $186.69.

Johnson & Johnson (NYSE:JNJGet Rating) last announced its quarterly earnings data on Tuesday, October 18th. The company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.06. The company had revenue of $23.79 billion for the quarter, compared to analysts’ expectations of $23.44 billion. Johnson & Johnson had a net margin of 19.95% and a return on equity of 35.37%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.60 EPS. Equities research analysts anticipate that Johnson & Johnson will post 10.04 EPS for the current fiscal year.

Johnson & Johnson declared that its Board of Directors has approved a share buyback plan on Wednesday, September 14th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 1.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Stockholders of record on Tuesday, November 22nd will be given a $1.13 dividend. This represents a $4.52 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Monday, November 21st. Johnson & Johnson’s dividend payout ratio (DPR) is currently 62.95%.

Johnson & Johnson Profile

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Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment offers baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.

See Also

Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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