Johnson & Johnson (NYSE:JNJ) Stock Holdings Cut by Patten & Patten Inc. TN

Patten & Patten Inc. TN cut its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 0.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 97,785 shares of the company’s stock after selling 514 shares during the period. Johnson & Johnson makes up approximately 1.1% of Patten & Patten Inc. TN’s holdings, making the stock its 25th biggest position. Patten & Patten Inc. TN’s holdings in Johnson & Johnson were worth $15,847,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Innealta Capital LLC purchased a new stake in shares of Johnson & Johnson in the 2nd quarter valued at approximately $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Johnson & Johnson during the 3rd quarter valued at $31,000. Mowery & Schoenfeld Wealth Management LLC grew its holdings in shares of Johnson & Johnson by 58.7% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after acquiring an additional 91 shares in the last quarter. Morton Brown Family Wealth LLC lifted its holdings in shares of Johnson & Johnson by 400.0% during the 3rd quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock valued at $41,000 after buying an additional 200 shares during the last quarter. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Johnson & Johnson during the 2nd quarter worth $43,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JNJ has been the subject of a number of recent research reports. Guggenheim upped their price objective on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Citigroup increased their price objective on Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. The Goldman Sachs Group reduced their target price on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Wells Fargo & Company lifted their price target on shares of Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada boosted their price objective on shares of Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $175.00.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the transaction, the vice president now directly owns 18,973 shares in the company, valued at $3,131,683.38. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is owned by company insiders.

Johnson & Johnson Stock Performance

JNJ opened at $155.05 on Tuesday. The company has a market capitalization of $373.30 billion, a price-to-earnings ratio of 22.44, a P/E/G ratio of 2.76 and a beta of 0.53. The business’s 50-day moving average price is $162.61 and its two-hundred day moving average price is $155.91. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The firm had revenue of $22.47 billion for the quarter, compared to analysts’ expectations of $22.17 billion. During the same quarter in the previous year, the business posted $2.66 EPS. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. Equities analysts expect that Johnson & Johnson will post 9.93 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be paid a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.20%. Johnson & Johnson’s dividend payout ratio is 71.78%.

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.