Indiana Trust & Investment Management Co Grows Position in Johnson & Johnson (NYSE:JNJ)

Indiana Trust & Investment Management Co increased its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 18.7% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,281 shares of the company’s stock after purchasing an additional 2,096 shares during the quarter. Johnson & Johnson accounts for about 0.7% of Indiana Trust & Investment Management Co’s investment portfolio, making the stock its 28th largest holding. Indiana Trust & Investment Management Co’s holdings in Johnson & Johnson were worth $2,152,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Innealta Capital LLC acquired a new position in shares of Johnson & Johnson during the 2nd quarter valued at $27,000. MFA Wealth Advisors LLC purchased a new position in Johnson & Johnson in the second quarter valued at about $43,000. Fairfield Financial Advisors LTD acquired a new position in shares of Johnson & Johnson during the second quarter worth about $46,000. Fairway Wealth LLC boosted its position in shares of Johnson & Johnson by 217.1% in the second quarter. Fairway Wealth LLC now owns 333 shares of the company’s stock worth $49,000 after buying an additional 228 shares during the period. Finally, Quarry LP purchased a new stake in shares of Johnson & Johnson during the 2nd quarter valued at about $49,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on JNJ. TD Securities decreased their price target on Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Daiwa Capital Markets lowered shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. TD Cowen decreased their price objective 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 dropped their target price 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. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $175.93.

Johnson & Johnson Price Performance

Shares of JNJ opened at $164.28 on Thursday. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The firm has a market cap of $395.37 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 2.65 and a beta of 0.52. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85. The stock has a 50 day moving average of $162.81 and a 200-day moving average of $154.59.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The company had revenue of $22.47 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. As a group, analysts forecast that Johnson & Johnson will post 10 EPS for the current year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the business’s 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 completion of the transaction, the vice president now owns 18,973 shares in the company, valued at $3,131,683.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.16% of the company’s stock.

Johnson & Johnson 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.