Johnson & Johnson (NYSE:JNJ) Shares Sold by Corundum Group Inc.

Corundum Group Inc. lowered its stake in shares of Johnson & Johnson (NYSE:JNJ) by 26.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,157 shares of the company’s stock after selling 2,910 shares during the quarter. Corundum Group Inc.’s holdings in Johnson & Johnson were worth $1,322,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Innealta Capital LLC purchased a new stake in shares of Johnson & Johnson in the second quarter valued at about $27,000. MFA Wealth Advisors LLC purchased a new stake in shares of Johnson & Johnson in the second quarter valued at approximately $43,000. Fairfield Financial Advisors LTD acquired a new position in Johnson & Johnson during the second quarter worth $46,000. Fairway Wealth LLC raised its position in Johnson & Johnson by 217.1% in the second quarter. Fairway Wealth LLC now owns 333 shares of the company’s stock worth $49,000 after acquiring an additional 228 shares in the last quarter. Finally, Quarry LP acquired a new stake in Johnson & Johnson in the second quarter valued at $49,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Sanford C. Bernstein upped their price target on shares of Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Royal Bank of Canada increased their target price on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. TD Cowen decreased their price target on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. TD Securities reduced their price objective on Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Finally, Morgan Stanley upped their target price on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $175.93.

Johnson & Johnson Trading Up 0.4 %

Johnson & Johnson stock opened at $165.12 on Monday. The stock has a 50-day moving average price of $162.98 and a 200 day moving average price of $154.69. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The stock has a market cap of $397.39 billion, a PE ratio of 10.29, a P/E/G 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.

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. The firm had revenue of $22.47 billion during the quarter, compared to analyst estimates of $22.17 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.66 earnings per share. Equities research analysts predict that Johnson & Johnson will post 10 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 30.92%.

Insider Activity at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.16% of the stock is owned by 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.