Carnegie Investment Counsel Trims Holdings in Johnson & Johnson (NYSE:JNJ)

Carnegie Investment Counsel decreased its position in shares of Johnson & Johnson (NYSE:JNJ) by 0.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 133,834 shares of the company’s stock after selling 437 shares during the quarter. Carnegie Investment Counsel’s holdings in Johnson & Johnson were worth $21,689,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Meridian Financial Partners LLC purchased a new position in shares of Johnson & Johnson during the 2nd quarter worth about $1,626,000. Summit Financial Wealth Advisors LLC boosted its holdings in shares of Johnson & Johnson by 26.3% in the 1st quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock valued at $853,000 after purchasing an additional 1,122 shares during the last quarter. Franklin Parlapiano Turner & Welch LLC grew its stake in shares of Johnson & Johnson by 0.7% during the 1st quarter. Franklin Parlapiano Turner & Welch LLC now owns 47,186 shares of the company’s stock valued at $7,464,000 after buying an additional 325 shares during the period. Capital Asset Advisory Services LLC increased its holdings in shares of Johnson & Johnson by 8.8% during the 1st quarter. Capital Asset Advisory Services LLC now owns 26,539 shares of the company’s stock worth $4,044,000 after buying an additional 2,151 shares during the last quarter. Finally, NTV Asset Management LLC boosted its holdings in Johnson & Johnson by 1.6% in the first quarter. NTV Asset Management LLC now owns 36,000 shares of the company’s stock valued at $5,695,000 after acquiring an additional 565 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on JNJ shares. Royal Bank of Canada raised their price objective on Johnson & Johnson from $175.00 to $178.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. TD Cowen reduced their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Daiwa America lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Finally, Sanford C. Bernstein raised their price objective on Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $174.31.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $161.46 on Friday. The stock has a market capitalization of $388.58 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 2.65 and a beta of 0.52. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85. The company’s 50-day simple moving average is $162.59 and its 200-day simple moving average is $154.48. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, July 17th. The company reported $2.82 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 during the quarter, compared to analyst estimates of $22.33 billion. During the same quarter last year, the firm earned $2.80 EPS. The business’s revenue was up 4.3% on a year-over-year basis. Equities analysts anticipate that Johnson & Johnson will post 10 earnings per share for the current fiscal 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 paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend was Tuesday, August 27th. Johnson & Johnson’s payout ratio is currently 30.92%.

Insider Activity

In other news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson 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 in the company, valued at approximately $3,131,683.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.