Tower Bridge Advisors Cuts Position in Johnson & Johnson (NYSE:JNJ)

Tower Bridge Advisors reduced its stake in shares of Johnson & Johnson (NYSE:JNJ) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 100,000 shares of the company’s stock after selling 2,635 shares during the period. Johnson & Johnson makes up about 1.7% of Tower Bridge Advisors’ holdings, making the stock its 13th largest position. Tower Bridge Advisors’ holdings in Johnson & Johnson were worth $16,206,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in JNJ. Meridian Financial Partners LLC acquired a new stake in Johnson & Johnson in the second quarter valued at $1,626,000. Lmcg Investments LLC grew its stake in Johnson & Johnson by 32.7% in the 3rd quarter. Lmcg Investments LLC now owns 87,162 shares of the company’s stock valued at $14,125,000 after acquiring an additional 21,471 shares during the last quarter. WealthPlan Investment Management LLC increased its holdings in Johnson & Johnson by 7.3% during the 3rd quarter. WealthPlan Investment Management LLC now owns 61,691 shares of the company’s stock valued at $9,998,000 after acquiring an additional 4,174 shares in the last quarter. Cooper Haims Advisors LLC lifted its holdings in shares of Johnson & Johnson by 6.4% in the first quarter. Cooper Haims Advisors LLC now owns 3,358 shares of the company’s stock valued at $531,000 after purchasing an additional 201 shares in the last quarter. Finally, Trajan Wealth LLC grew its position in shares of Johnson & Johnson by 11.3% in the third quarter. Trajan Wealth LLC now owns 32,992 shares of the company’s stock valued at $5,347,000 after purchasing an additional 3,341 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on JNJ. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Guggenheim increased their price objective on Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Citigroup boosted their target price on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Wolfe Research began coverage on shares of Johnson & Johnson in a research note on Friday. They set an “outperform” rating and a $190.00 price target on the stock. Finally, Wells Fargo & Company lifted their target price on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and an average price target of $175.94.

Insiders Place Their Bets

In other news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the sale, the vice president now owns 18,973 shares in the company, valued at $3,131,683.38. This trade represents a 22.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.16% of the stock is currently owned by insiders.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ opened at $154.00 on Friday. The firm has a market capitalization of $370.77 billion, a PE ratio of 22.29, a P/E/G ratio of 2.74 and a beta of 0.53. Johnson & Johnson has a 12 month low of $143.13 and a 12 month 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. The business has a 50-day moving average of $161.35 and a two-hundred day moving average of $156.10.

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

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.22%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 71.78%.

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.