Johnson & Johnson (NYSE:JNJ) Shares Sold by Dock Street Asset Management Inc.

Dock Street Asset Management Inc. decreased its holdings in Johnson & Johnson (NYSE:JNJ) by 8.7% in the third quarter, Holdings Channel reports. The fund owned 2,502 shares of the company’s stock after selling 237 shares during the period. Dock Street Asset Management Inc.’s holdings in Johnson & Johnson were worth $405,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Summit Wealth Partners LLC boosted its holdings in Johnson & Johnson by 0.6% in the second quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company’s stock valued at $1,463,000 after acquiring an additional 61 shares during the last quarter. Powers Advisory Group LLC boosted its holdings in Johnson & Johnson by 0.6% in the third quarter. Powers Advisory Group LLC now owns 9,489 shares of the company’s stock valued at $1,538,000 after acquiring an additional 61 shares during the last quarter. Citizens & Northern Corp lifted its stake in shares of Johnson & Johnson by 3.5% during the second quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock worth $275,000 after purchasing an additional 63 shares in the last quarter. Eagle Wealth Strategies LLC lifted its stake in shares of Johnson & Johnson by 2.8% during the third quarter. Eagle Wealth Strategies LLC now owns 2,294 shares of the company’s stock worth $372,000 after purchasing an additional 63 shares in the last quarter. Finally, Epic Trust Investment Advisors LLC lifted its stake in shares of Johnson & Johnson by 3.6% during the second quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock worth $268,000 after purchasing an additional 64 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ opened at $163.45 on Wednesday. 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 stock has a 50 day simple moving average of $163.14 and a 200-day simple moving average of $154.84. The company has a market cap of $393.37 billion, a PE ratio of 10.19, a P/E/G 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.

Johnson & Johnson (NYSE:JNJ) last released 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. The firm had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.66 earnings per share. On average, equities research analysts forecast that Johnson & Johnson will post 10 EPS for the current year.

Johnson & Johnson Dividend Announcement

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

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the company’s 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 approximately $3,131,683.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have commented on JNJ shares. Citigroup boosted their price objective on Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. TD Cowen dropped their target price on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. The Goldman Sachs Group lowered their price objective on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a report on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $175.93.

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.