Pinnacle Wealth Management Group Inc. Sells 150 Shares of Johnson & Johnson (NYSE:JNJ)

Pinnacle Wealth Management Group Inc. lessened its position in Johnson & Johnson (NYSE:JNJ) by 3.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,361 shares of the company’s stock after selling 150 shares during the period. Pinnacle Wealth Management Group Inc.’s holdings in Johnson & Johnson were worth $707,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Meridian Financial Partners LLC bought a new position in shares of Johnson & Johnson during the 2nd quarter valued at $1,626,000. Summit Financial Wealth Advisors LLC boosted its stake in shares of Johnson & Johnson by 26.3% during the 1st quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock worth $853,000 after acquiring 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 acquiring an additional 325 shares during the period. Capital Asset Advisory Services LLC increased its holdings in Johnson & Johnson by 8.8% in the 1st quarter. Capital Asset Advisory Services LLC now owns 26,539 shares of the company’s stock worth $4,044,000 after acquiring an additional 2,151 shares in the last quarter. Finally, NTV Asset Management LLC lifted its holdings in Johnson & Johnson by 1.6% during the first quarter. NTV Asset Management LLC now owns 36,000 shares of the company’s stock valued at $5,695,000 after purchasing an additional 565 shares in the last quarter. 69.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. The Goldman Sachs Group dropped their target price on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, July 19th. 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Thursday. Daiwa Capital Markets cut shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their target price for the company from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Finally, Royal Bank of Canada boosted their price target on shares of Johnson & Johnson from $175.00 to $178.00 and gave the stock an “outperform” rating in a research note on Tuesday. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $173.43.

Johnson & Johnson Trading Up 0.6 %

NYSE JNJ traded up $0.95 during trading hours on Friday, hitting $161.46. 5,253,459 shares of the company were exchanged, compared to its average volume of 7,039,524. The stock has a market cap of $388.58 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85. The stock has a 50-day moving average price of $162.59 and a 200 day moving average price of $154.49. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $22.33 billion. During the same period last year, the company earned $2.80 earnings per share. Johnson & Johnson’s revenue was up 4.3% on a year-over-year basis. Analysts forecast that Johnson & Johnson will post 10 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

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

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the sale, the vice president now directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by corporate 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.