Johnson & Johnson (NYSE:JNJ) Position Reduced by Griffin Asset Management Inc.

Griffin Asset Management Inc. decreased its holdings in Johnson & Johnson (NYSE:JNJ) by 1.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 87,382 shares of the company’s stock after selling 1,003 shares during the period. Johnson & Johnson makes up 1.6% of Griffin Asset Management Inc.’s investment portfolio, making the stock its 10th largest position. Griffin Asset Management Inc.’s holdings in Johnson & Johnson were worth $14,161,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Meridian Financial Partners LLC bought a new stake in Johnson & Johnson during the 2nd quarter valued at $1,626,000. Summit Financial Wealth Advisors LLC grew its position in shares of Johnson & Johnson by 26.3% in the first quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock valued at $853,000 after purchasing an additional 1,122 shares in the last quarter. Franklin Parlapiano Turner & Welch LLC raised its stake in shares of Johnson & Johnson by 0.7% during the 1st quarter. Franklin Parlapiano Turner & Welch LLC now owns 47,186 shares of the company’s stock valued at $7,464,000 after purchasing an additional 325 shares during the period. Capital Asset Advisory Services LLC boosted its stake in Johnson & Johnson by 8.8% in the 1st quarter. Capital Asset Advisory Services LLC now owns 26,539 shares of the company’s stock worth $4,044,000 after purchasing an additional 2,151 shares during the period. Finally, NTV Asset Management LLC grew its holdings in Johnson & Johnson by 1.6% during the 1st quarter. NTV Asset Management LLC now owns 36,000 shares of the company’s stock valued at $5,695,000 after buying an additional 565 shares in the last quarter. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ opened at $164.14 on Wednesday. The stock’s 50-day moving average is $162.70 and its 200 day moving average is $154.52. The stock has a market cap of $395.02 billion, a price-to-earnings ratio of 10.23, a P/E/G ratio of 2.65 and a beta of 0.52. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.33 billion. During the same period last year, the firm posted $2.80 earnings per share. The business’s revenue was up 4.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Johnson & Johnson will post 10 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 3.02%. Johnson & Johnson’s payout ratio is presently 30.92%.

Insider Buying and Selling at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson 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 owns 18,973 shares in the company, valued at approximately $3,131,683.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Royal Bank of Canada raised their price objective on shares of Johnson & Johnson from $175.00 to $178.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. TD Cowen reduced their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. The Goldman Sachs Group lowered their price objective on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Daiwa America cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, Sanford C. Bernstein raised their price target on Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $174.31.

Johnson & Johnson Company 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.