Grimes & Company Inc. Grows Stake in Johnson & Johnson (NYSE:JNJ)

Grimes & Company Inc. increased its holdings in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 2.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 77,724 shares of the company’s stock after purchasing an additional 2,081 shares during the quarter. Grimes & Company Inc.’s holdings in Johnson & Johnson were worth $12,697,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in JNJ. Bell Rock Capital LLC boosted its position in shares of Johnson & Johnson by 469.7% in the 3rd quarter. Bell Rock Capital LLC now owns 8,346 shares of the company’s stock valued at $1,363,000 after purchasing an additional 6,881 shares during the period. Alta Advisers Ltd acquired a new stake in shares of Johnson & Johnson in the third quarter valued at approximately $1,095,000. IFG Advisory LLC grew its position in shares of Johnson & Johnson by 22.6% during the third quarter. IFG Advisory LLC now owns 19,487 shares of the company’s stock worth $3,183,000 after acquiring an additional 3,589 shares during the last quarter. Community Bank N.A. increased its holdings in shares of Johnson & Johnson by 1.6% in the 3rd quarter. Community Bank N.A. now owns 71,889 shares of the company’s stock valued at $11,744,000 after acquiring an additional 1,159 shares during the period. Finally, Levy Wealth Management Group LLC raised its position in Johnson & Johnson by 12.2% in the 3rd quarter. Levy Wealth Management Group LLC now owns 12,036 shares of the company’s stock valued at $1,966,000 after purchasing an additional 1,311 shares during the last quarter. 67.94% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Trading Down 0.3 %

Shares of Johnson & Johnson stock opened at $173.43 on Tuesday. The company has a 50-day moving average of $176.33 and a two-hundred day moving average of $171.44. Johnson & Johnson has a 12-month low of $155.72 and a 12-month high of $186.69. The company has a current ratio of 1.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.37. The stock has a market cap of $453.43 billion, a PE ratio of 24.15, a price-to-earnings-growth ratio of 3.28 and a beta of 0.56.

Johnson & Johnson (NYSE:JNJGet Rating) last posted its earnings results on Tuesday, October 18th. The company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.06. The company had revenue of $23.79 billion for the quarter, compared to analyst estimates of $23.44 billion. Johnson & Johnson had a return on equity of 35.37% and a net margin of 19.95%. Johnson & Johnson’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.60 earnings per share. On average, research analysts anticipate that Johnson & Johnson will post 10.04 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 7th. Stockholders of record on Tuesday, February 21st will be paid a dividend of $1.13 per share. The ex-dividend date is Friday, February 17th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.61%. Johnson & Johnson’s dividend payout ratio (DPR) is 62.95%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on JNJ shares. Bank of America reduced their target price on shares of Johnson & Johnson from $185.00 to $178.00 and set a “neutral” rating for the company in a report on Friday, October 14th. Barclays started coverage on Johnson & Johnson in a research note on Monday, October 17th. They issued an “equal weight” rating and a $175.00 target price on the stock. Citigroup upped their price target on Johnson & Johnson from $198.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, December 12th. Atlantic Securities lowered their price objective on shares of Johnson & Johnson from $165.00 to $160.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 19th. Finally, StockNews.com initiated coverage on shares of Johnson & Johnson in a research report on Wednesday, October 12th. They set a “strong-buy” rating for the company. Seven equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.42.

Insider Buying and Selling

In other Johnson & Johnson news, CAO Robert J. Decker sold 16,928 shares of the firm’s stock in a transaction on Friday, November 18th. The stock was sold at an average price of $175.00, for a total transaction of $2,962,400.00. Following the completion of the transaction, the chief accounting officer now owns 15,473 shares of the company’s stock, valued at $2,707,775. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Johnson & Johnson news, EVP Ashley Mcevoy sold 73,323 shares of the firm’s stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $175.47, for a total transaction of $12,865,986.81. Following the sale, the executive vice president now directly owns 41,813 shares of the company’s stock, valued at approximately $7,336,927.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Robert J. Decker sold 16,928 shares of the business’s stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $175.00, for a total transaction of $2,962,400.00. Following the completion of the transaction, the chief accounting officer now directly owns 15,473 shares of the company’s stock, valued at approximately $2,707,775. The disclosure for this sale can be found here. Insiders sold 300,750 shares of company stock worth $52,311,677 in the last ninety days. Insiders own 0.35% of the company’s stock.

Johnson & Johnson Company Profile

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Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment offers baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.

Further Reading

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

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