Iowa State Bank Cuts Stock Position in Johnson & Johnson (NYSE:JNJ)

Iowa State Bank reduced its position in Johnson & Johnson (NYSE:JNJ) by 3.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,736 shares of the company’s stock after selling 1,725 shares during the quarter. Johnson & Johnson accounts for about 1.5% of Iowa State Bank’s holdings, making the stock its 22nd largest holding. Iowa State Bank’s holdings in Johnson & Johnson were worth $7,412,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. TD Cowen dropped their target price on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Sanford C. Bernstein lifted their price target on shares of Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Morgan Stanley raised their target price on shares of Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Daiwa Capital Markets downgraded shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Finally, Daiwa America cut 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 given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $173.43.

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $161.45 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 company has a market capitalization of $388.56 billion, a P/E ratio of 10.07, a PEG ratio of 2.65 and a beta of 0.52. The stock’s 50 day moving average is $162.59 and its 200 day moving average is $154.49. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $168.85.

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

Johnson & Johnson Dividend Announcement

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

Insider Activity

In other news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction 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 directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.16% of the company’s stock.

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.