Johnson & Johnson (NYSE:JNJ) Shares Sold by Pinnacle Bancorp Inc.

Pinnacle Bancorp Inc. trimmed its position in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,439 shares of the company’s stock after selling 104 shares during the quarter. Johnson & Johnson accounts for approximately 1.2% of Pinnacle Bancorp Inc.’s portfolio, making the stock its 14th largest holding. Pinnacle Bancorp Inc.’s holdings in Johnson & Johnson were worth $2,918,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in JNJ. Patron Partners LLC grew its position in Johnson & Johnson by 12.7% during the first quarter. Patron Partners LLC now owns 6,625 shares of the company’s stock worth $1,174,000 after buying an additional 747 shares during the period. Palisade Capital Management LLC NJ grew its position in Johnson & Johnson by 0.3% during the first quarter. Palisade Capital Management LLC NJ now owns 93,141 shares of the company’s stock worth $16,507,000 after buying an additional 250 shares during the period. Lmcg Investments LLC acquired a new position in Johnson & Johnson during the first quarter worth about $12,462,000. Capital Wealth Planning LLC grew its position in Johnson & Johnson by 14.0% during the first quarter. Capital Wealth Planning LLC now owns 916,575 shares of the company’s stock worth $162,445,000 after buying an additional 112,890 shares during the period. Finally, Tandem Investment Advisors Inc. grew its position in Johnson & Johnson by 4.8% during the first quarter. Tandem Investment Advisors Inc. now owns 326,505 shares of the company’s stock worth $57,867,000 after buying an additional 15,003 shares during the period. 68.59% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $163.28 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.17 and a current ratio of 1.42. The company has a market capitalization of $429.29 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 2.97 and a beta of 0.61. Johnson & Johnson has a 1 year low of $155.72 and a 1 year high of $186.69. The company’s 50 day simple moving average is $168.25 and its 200 day simple moving average is $174.16.

Johnson & Johnson (NYSE:JNJGet Rating) last posted its quarterly earnings results on Tuesday, July 19th. The company reported $2.59 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.02. The company had revenue of $24.02 billion for the quarter, compared to the consensus estimate of $23.85 billion. Johnson & Johnson had a net margin of 19.21% and a return on equity of 36.14%. Johnson & Johnson’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.48 earnings per share. On average, sell-side analysts predict that Johnson & Johnson will post 10.7 EPS for the current year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 23rd were paid a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date was Monday, August 22nd. Johnson & Johnson’s dividend payout ratio is currently 65.79%.

Johnson & Johnson declared that its board has authorized a share buyback program on Wednesday, September 14th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 1.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have issued reports on the stock. SVB Leerink reduced their price target on shares of Johnson & Johnson from $200.00 to $194.00 in a report on Wednesday, July 20th. Morgan Stanley reduced their price target on shares of Johnson & Johnson from $174.00 to $173.00 and set an “equal weight” rating on the stock in a report on Monday, September 12th. Wells Fargo & Company upped their price target on shares of Johnson & Johnson from $190.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, July 13th. Daiwa Capital Markets assumed coverage on shares of Johnson & Johnson in a report on Wednesday, June 22nd. They issued an “outperform” rating on the stock. Finally, Citigroup reduced their price target on shares of Johnson & Johnson from $205.00 to $201.00 in a report on Wednesday, July 20th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $189.78.

About Johnson & Johnson

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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.

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

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