Abbot Financial Management Inc. Sells 519 Shares of Johnson & Johnson (NYSE:JNJ)

Abbot Financial Management Inc. lowered its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 3.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,477 shares of the company’s stock after selling 519 shares during the quarter. Johnson & Johnson comprises about 1.3% of Abbot Financial Management Inc.’s investment portfolio, making the stock its 20th biggest position. Abbot Financial Management Inc.’s holdings in Johnson & Johnson were worth $2,408,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Citizens & Northern Corp increased its holdings 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 acquiring an additional 63 shares during the last quarter. Carolinas Wealth Consulting LLC lifted its stake in shares of Johnson & Johnson by 0.4% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 16,861 shares of the company’s stock worth $2,643,000 after buying an additional 64 shares during the last quarter. Epic Trust Investment Advisors LLC boosted its holdings in shares of Johnson & Johnson by 3.6% during the 2nd 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 period. Pine Harbor Wealth Management LLC grew its stake in Johnson & Johnson by 1.9% in the 2nd quarter. Pine Harbor Wealth Management LLC now owns 3,472 shares of the company’s stock valued at $507,000 after buying an additional 64 shares during the last quarter. Finally, Verity Asset Management Inc. raised its holdings in Johnson & Johnson by 2.0% in the 4th quarter. Verity Asset Management Inc. now owns 3,268 shares of the company’s stock worth $512,000 after acquiring an additional 65 shares during the period. 69.55% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the sale, the vice president now directly owns 18,973 shares in the company, valued at approximately $3,131,683.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday. TD Cowen dropped their price target on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. TD Securities reduced their price objective on Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. The Goldman Sachs Group dropped their target price on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Monday. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $173.21.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $167.02 on Tuesday. The business has a 50 day simple moving average of $159.98 and a 200 day simple moving average of $153.98. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85. The company has a market capitalization of $401.96 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.71 by $0.11. The company had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.80 EPS. On average, sell-side analysts forecast that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 2.97%. The ex-dividend date was Tuesday, August 27th. Johnson & Johnson’s payout ratio is 30.92%.

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.