Johnson & Johnson (NYSE:JNJ) Shares Sold by Merrion Investment Management Co LLC

Merrion Investment Management Co LLC cut its position in Johnson & Johnson (NYSE:JNJ) by 7.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,294 shares of the company’s stock after selling 1,000 shares during the quarter. Johnson & Johnson accounts for 1.3% of Merrion Investment Management Co LLC’s holdings, making the stock its 19th largest holding. Merrion Investment Management Co LLC’s holdings in Johnson & Johnson were worth $1,992,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of JNJ. Innealta Capital LLC acquired a new position in Johnson & Johnson during the 2nd quarter worth $27,000. MFA Wealth Advisors LLC acquired a new position in Johnson & Johnson during the 2nd quarter worth $43,000. Grayhawk Investment Strategies Inc. grew its stake in Johnson & Johnson by 528.6% during the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after purchasing an additional 259 shares in the last quarter. Fairfield Financial Advisors LTD acquired a new position in Johnson & Johnson during the 2nd quarter worth $46,000. Finally, Fairway Wealth LLC grew its stake in Johnson & Johnson by 217.1% during the 2nd quarter. Fairway Wealth LLC now owns 333 shares of the company’s stock worth $49,000 after purchasing an additional 228 shares in the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. TD Cowen decreased their price target on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, July 18th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Sanford C. Bernstein lifted their price target on Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. The Goldman Sachs Group reduced their target price 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, Royal Bank of Canada boosted their target price on Johnson & Johnson from $175.00 to $178.00 and gave the company an “outperform” rating in a report on Tuesday. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus price target of $173.43.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $160.52 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The stock’s 50-day moving average price is $162.64 and its 200 day moving average price is $154.45. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85. The stock has a market capitalization of $386.41 billion, a PE ratio of 10.03, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The company had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.33 billion. During the same quarter in the previous year, the firm posted $2.80 EPS. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, equities research analysts forecast that Johnson & Johnson will post 10 EPS for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.09%. The ex-dividend date was Tuesday, August 27th. Johnson & Johnson’s payout ratio is 30.98%.

Insiders Place Their Bets

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the transaction, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.16% of the stock is currently owned by insiders.

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.