Sky Investment Group LLC Sells 1,238 Shares of Johnson & Johnson (NYSE:JNJ)

Sky Investment Group LLC trimmed its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 1.7% during the 2nd quarter, Holdings Channel reports. The fund owned 70,674 shares of the company’s stock after selling 1,238 shares during the period. Johnson & Johnson comprises about 2.0% of Sky Investment Group LLC’s portfolio, making the stock its 11th largest position. Sky Investment Group LLC’s holdings in Johnson & Johnson were worth $10,330,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JNJ. ORG Partners LLC lifted its position in shares of Johnson & Johnson by 1,202.2% during the second quarter. ORG Partners LLC now owns 6,589 shares of the company’s stock valued at $967,000 after buying an additional 6,083 shares during the last quarter. Steele Capital Management Inc. lifted its position in shares of Johnson & Johnson by 5.5% during the second quarter. Steele Capital Management Inc. now owns 1,734 shares of the company’s stock valued at $253,000 after buying an additional 91 shares during the last quarter. PineStone Asset Management Inc. lifted its position in shares of Johnson & Johnson by 128.7% during the second quarter. PineStone Asset Management Inc. now owns 2,690,848 shares of the company’s stock valued at $393,294,000 after buying an additional 1,514,185 shares during the last quarter. Farmers Trust Co. lifted its position in shares of Johnson & Johnson by 15.3% during the second quarter. Farmers Trust Co. now owns 69,535 shares of the company’s stock valued at $10,163,000 after buying an additional 9,216 shares during the last quarter. Finally, Howard Capital Management Group LLC lifted its position in shares of Johnson & Johnson by 0.9% during the second quarter. Howard Capital Management Group LLC now owns 16,775 shares of the company’s stock valued at $2,452,000 after buying an additional 157 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on JNJ. The Goldman Sachs Group decreased their price target on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. StockNews.com downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. Bank of America lowered their price objective on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. TD Cowen dropped their price objective on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $173.21.

Johnson & Johnson Stock Performance

JNJ traded up $0.29 during trading on Thursday, reaching $158.77. 1,464,231 shares of the company’s stock were exchanged, compared to its average volume of 7,318,511. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. The stock has a market capitalization of $382.11 billion, a P/E ratio of 9.85, a price-to-earnings-growth ratio of 2.63 and a beta of 0.52. The company’s fifty day simple moving average is $151.88 and its 200-day simple moving average is $153.10. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $175.39.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.11. The firm had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.80 EPS. As a group, research analysts predict that Johnson & Johnson will post 10.07 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

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.