Sawgrass Asset Management LLC Decreases Holdings in Johnson & Johnson (NYSE:JNJ)

Sawgrass Asset Management LLC reduced its stake in Johnson & Johnson (NYSE:JNJ) by 2.9% during the third quarter, according to its most recent filing with the SEC. The fund owned 65,797 shares of the company’s stock after selling 1,966 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Johnson & Johnson were worth $10,663,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Summit Wealth Partners LLC increased its position in Johnson & Johnson by 0.6% during the second quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company’s stock valued at $1,463,000 after acquiring an additional 61 shares during the last quarter. Powers Advisory Group LLC grew its stake in shares of Johnson & Johnson by 0.6% during the 3rd quarter. Powers Advisory Group LLC now owns 9,489 shares of the company’s stock valued at $1,538,000 after purchasing an additional 61 shares during the period. Citizens & Northern Corp increased its position in shares of Johnson & Johnson by 3.5% during the 2nd quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock valued at $275,000 after purchasing an additional 63 shares during the last quarter. Eagle Wealth Strategies LLC lifted its stake in shares of Johnson & Johnson by 2.8% in the 3rd quarter. Eagle Wealth Strategies LLC now owns 2,294 shares of the company’s stock worth $372,000 after purchasing an additional 63 shares during the period. Finally, Epic Trust Investment Advisors LLC boosted its holdings in shares of Johnson & Johnson by 3.6% in the second quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock worth $268,000 after buying an additional 64 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Insiders Place Their Bets

In related news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction dated Friday, August 30th. The shares were 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 owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. This trade represents a 22.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Up 1.4 %

Shares of JNJ stock opened at $154.00 on Friday. The stock has a market cap of $370.77 billion, a P/E ratio of 22.29, a PEG ratio of 2.74 and a beta of 0.53. The company’s fifty day simple moving average is $161.35 and its two-hundred day simple moving average is $156.10. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The company had revenue of $22.47 billion during the quarter, compared to analyst estimates of $22.17 billion. During the same period in the prior year, the company earned $2.66 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. Analysts predict 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. Shareholders of record on Tuesday, November 26th will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 annualized dividend and a yield of 3.22%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 71.78%.

Analysts Set New Price Targets

Several research analysts have weighed in on JNJ shares. Wells Fargo & Company increased their price target on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Citigroup raised their target price on Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Royal Bank of Canada boosted their price target on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Wolfe Research assumed coverage on Johnson & Johnson in a research note on Friday. They issued an “outperform” rating and a $190.00 price objective on the stock. Finally, StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $175.94.

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.