Johnson & Johnson (JNJ) Shares Sold by Granite Investment Advisors LLC

Granite Investment Advisors LLC trimmed its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 2.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 131,802 shares of the company’s stock after selling 3,912 shares during the period. Johnson & Johnson comprises 3.1% of Granite Investment Advisors LLC’s investment portfolio, making the stock its 4th biggest holding. Granite Investment Advisors LLC’s holdings in Johnson & Johnson were worth $17,136,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. OLD Point Trust & Financial Services N A grew its holdings in shares of Johnson & Johnson by 2.2% in the 2nd quarter. OLD Point Trust & Financial Services N A now owns 61,326 shares of the company’s stock worth $8,113,000 after acquiring an additional 1,321 shares during the period. Welch & Forbes LLC grew its holdings in shares of Johnson & Johnson by 0.9% in the 2nd quarter. Welch & Forbes LLC now owns 718,331 shares of the company’s stock worth $95,028,000 after acquiring an additional 6,730 shares during the period. Janney Montgomery Scott LLC grew its holdings in shares of Johnson & Johnson by 0.5% in the 2nd quarter. Janney Montgomery Scott LLC now owns 771,868 shares of the company’s stock worth $102,110,000 after acquiring an additional 3,533 shares during the period. Oliver Luxxe Assets LLC grew its holdings in shares of Johnson & Johnson by 12.7% in the 2nd quarter. Oliver Luxxe Assets LLC now owns 17,538 shares of the company’s stock worth $2,320,000 after acquiring an additional 1,972 shares during the period. Finally, Sitrin Capital Management LLC grew its holdings in shares of Johnson & Johnson by 1.6% in the 2nd quarter. Sitrin Capital Management LLC now owns 48,986 shares of the company’s stock worth $6,480,000 after acquiring an additional 792 shares during the period. 65.71% of the stock is owned by institutional investors and hedge funds.

Shares of Johnson & Johnson (NYSE:JNJ) opened at $146.86 on Wednesday. The company has a market capitalization of $394,540.00, a price-to-earnings ratio of 25.50, a price-to-earnings-growth ratio of 2.75 and a beta of 0.80. The company has a current ratio of 1.32, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36. Johnson & Johnson has a fifty-two week low of $110.76 and a fifty-two week high of $148.06.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, October 17th. The company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.10. Johnson & Johnson had a return on equity of 27.38% and a net margin of 21.28%. The business had revenue of $19.65 billion for the quarter, compared to analysts’ expectations of $19.29 billion. During the same quarter last year, the firm earned $1.68 earnings per share. The business’s revenue was up 10.3% on a year-over-year basis. equities research analysts forecast that Johnson & Johnson will post 7.28 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 13th. Stockholders of record on Tuesday, February 27th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Monday, February 26th. Johnson & Johnson’s dividend payout ratio (DPR) is 58.33%.

A number of equities research analysts recently weighed in on JNJ shares. Goldman Sachs Group cut Johnson & Johnson from a “neutral” rating to a “sell” rating and upped their price target for the stock from $125.00 to $130.00 in a report on Wednesday, September 20th. Vetr upgraded Johnson & Johnson from a “sell” rating to a “hold” rating and set a $137.71 price target on the stock in a report on Monday, October 30th. Credit Suisse Group set a $154.00 price target on Johnson & Johnson and gave the stock an “outperform” rating in a report on Thursday, October 19th. BMO Capital Markets upped their price target on Johnson & Johnson to $161.00 and gave the stock an “outperform” rating in a report on Tuesday, December 12th. Finally, Zacks Investment Research cut Johnson & Johnson from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $145.94.

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About Johnson & Johnson

Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. It operates through three segments: Consumer, Pharmaceutical and Medical Devices. Its primary focus is products related to human health and well-being.

Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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