White Pine Investment CO Sells 128 Shares of Johnson & Johnson (NYSE:JNJ)

White Pine Investment CO lowered its position in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 0.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,174 shares of the company’s stock after selling 128 shares during the period. White Pine Investment CO’s holdings in Johnson & Johnson were worth $3,459,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. RKL Wealth Management LLC grew its holdings in shares of Johnson & Johnson by 2.1% during the 2nd quarter. RKL Wealth Management LLC now owns 48,233 shares of the company’s stock valued at $8,562,000 after purchasing an additional 1,010 shares during the last quarter. Geller Advisors LLC lifted its stake in shares of Johnson & Johnson by 7.5% in the 2nd quarter. Geller Advisors LLC now owns 9,260 shares of the company’s stock valued at $1,644,000 after acquiring an additional 648 shares during the last quarter. Simon Quick Advisors LLC lifted its stake in shares of Johnson & Johnson by 296.9% in the 2nd quarter. Simon Quick Advisors LLC now owns 8,739 shares of the company’s stock valued at $1,495,000 after acquiring an additional 6,537 shares during the last quarter. Lokken Investment Group LLC lifted its stake in shares of Johnson & Johnson by 1.6% in the 2nd quarter. Lokken Investment Group LLC now owns 12,968 shares of the company’s stock valued at $2,302,000 after acquiring an additional 201 shares during the last quarter. Finally, Keebeck Alpha LP lifted its stake in shares of Johnson & Johnson by 13.4% in the 2nd quarter. Keebeck Alpha LP now owns 4,442 shares of the company’s stock valued at $788,000 after acquiring an additional 525 shares during the last quarter. 67.94% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Down 0.6 %

Shares of Johnson & Johnson stock opened at $172.36 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.43 and a quick ratio of 1.18. The company has a 50-day moving average of $176.30 and a 200 day moving average of $171.39. The firm has a market cap of $450.63 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 3.28 and a beta of 0.56. Johnson & Johnson has a 1 year low of $155.72 and a 1 year high of $186.69.

Johnson & Johnson (NYSE:JNJGet Rating) last issued its quarterly earnings results on Tuesday, October 18th. The company reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. Johnson & Johnson had a return on equity of 35.37% and a net margin of 19.95%. The firm had revenue of $23.79 billion for the quarter, compared to analysts’ expectations of $23.44 billion. During the same period in the previous year, the firm posted $2.60 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.04 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 7th. Stockholders of record on Tuesday, February 21st will be issued a dividend of $1.13 per share. The ex-dividend date is Friday, February 17th. This represents a $4.52 annualized dividend and a dividend yield of 2.62%. Johnson & Johnson’s payout ratio is presently 62.95%.

Insider Activity

In other news, VP Peter Fasolo sold 29,275 shares of the company’s stock in a transaction that occurred on Monday, October 24th. The shares were sold at an average price of $171.36, for a total value of $5,016,564.00. Following the transaction, the vice president now owns 114,676 shares in the company, valued at $19,650,879.36. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Johnson & Johnson news, CFO Joseph J. Wolk sold 14,781 shares of the company’s stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $179.60, for a total transaction of $2,654,667.60. Following the transaction, the chief financial officer now owns 35,812 shares in the company, valued at approximately $6,431,835.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Peter Fasolo sold 29,275 shares of the company’s stock in a transaction dated Monday, October 24th. The shares were sold at an average price of $171.36, for a total transaction of $5,016,564.00. Following the transaction, the vice president now owns 114,676 shares in the company, valued at approximately $19,650,879.36. The disclosure for this sale can be found here. Insiders sold 277,886 shares of company stock worth $48,550,549 over the last three months. 0.35% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Bank of America cut their target price on shares of Johnson & Johnson from $185.00 to $178.00 and set a “neutral” rating on the stock in a report on Friday, October 14th. StockNews.com began coverage on shares of Johnson & Johnson in a research note on Wednesday, October 12th. They set a “strong-buy” rating for the company. Sanford C. Bernstein lowered their price objective on shares of Johnson & Johnson from $194.00 to $190.00 in a research note on Wednesday, October 19th. Atlantic Securities cut their price objective on 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, Barclays began coverage on Johnson & Johnson in a research report on Monday, October 17th. They issued an “equal weight” rating and a $175.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.42.

Johnson & Johnson Company Profile

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Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer Health, Pharmaceutical, and Medical Devices. The Consumer Health segment includes products used in the baby care, oral care, beauty, over-the-counter pharmaceutical, women’s health, and wound care markets.

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

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