Bennett Selby Investments LP Trims Stock Position in Johnson & Johnson (NYSE:JNJ)

Bennett Selby Investments LP lessened its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 1.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,063 shares of the company’s stock after selling 167 shares during the period. Johnson & Johnson makes up 1.2% of Bennett Selby Investments LP’s holdings, making the stock its 18th biggest position. Bennett Selby Investments LP’s holdings in Johnson & Johnson were worth $2,765,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Priebe Wealth Holdings LLC purchased a new position in shares of Johnson & Johnson during the third quarter worth $211,000. First Affirmative Financial Network raised its holdings in shares of Johnson & Johnson by 37.4% during the third quarter. First Affirmative Financial Network now owns 7,316 shares of the company’s stock worth $1,186,000 after purchasing an additional 1,993 shares during the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its holdings in Johnson & Johnson by 1.0% in the third quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 29,079 shares of the company’s stock valued at $4,713,000 after buying an additional 276 shares in the last quarter. Wynn Capital LLC increased its holdings in Johnson & Johnson by 1.8% in the third quarter. Wynn Capital LLC now owns 12,469 shares of the company’s stock valued at $2,021,000 after buying an additional 217 shares in the last quarter. Finally, Fiduciary Financial Group LLC increased its holdings in Johnson & Johnson by 19.9% in the third quarter. Fiduciary Financial Group LLC now owns 4,130 shares of the company’s stock valued at $660,000 after buying an additional 685 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insider Activity

In other news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on JNJ shares. Sanford C. Bernstein lifted their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Royal Bank of Canada lifted their price objective on shares of Johnson & Johnson from $175.00 to $178.00 and gave the company an “outperform” rating in a report on Tuesday. TD Cowen cut their price objective on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Daiwa Capital Markets lowered shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Finally, Daiwa America lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $173.43.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $161.45 on Friday. 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 firm has a market capitalization of $388.56 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 2.65 and a beta of 0.52. The company’s 50-day moving average is $162.59 and its two-hundred day moving average is $154.49. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85.

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 company had revenue of $22.45 billion for 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%. Johnson & Johnson’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.80 EPS. Analysts forecast that Johnson & Johnson will post 10 EPS for the current year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

Johnson & Johnson Profile

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.