Conestoga Capital Advisors LLC Decreases Stock Position in Johnson & Johnson (NYSE:JNJ)

Conestoga Capital Advisors LLC decreased its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 17.7% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,025 shares of the company’s stock after selling 435 shares during the period. Conestoga Capital Advisors LLC’s holdings in Johnson & Johnson were worth $328,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pachira Investments Inc. grew its stake in Johnson & Johnson by 6.4% in the 1st quarter. Pachira Investments Inc. now owns 4,353 shares of the company’s stock valued at $689,000 after acquiring an additional 262 shares during the period. Massachusetts Wealth Management grew its position in shares of Johnson & Johnson by 1.4% in the first quarter. Massachusetts Wealth Management now owns 17,572 shares of the company’s stock valued at $2,780,000 after purchasing an additional 250 shares during the period. Kovack Advisors Inc. increased its stake in shares of Johnson & Johnson by 9.4% during the first quarter. Kovack Advisors Inc. now owns 32,041 shares of the company’s stock worth $5,069,000 after purchasing an additional 2,759 shares in the last quarter. Cornerstone Wealth Management LLC raised its position in shares of Johnson & Johnson by 5.0% during the 1st quarter. Cornerstone Wealth Management LLC now owns 42,109 shares of the company’s stock worth $6,661,000 after purchasing an additional 2,007 shares during the last quarter. Finally, First Trust Direct Indexing L.P. boosted its holdings in Johnson & Johnson by 10.5% in the 1st quarter. First Trust Direct Indexing L.P. now owns 55,544 shares of the company’s stock worth $8,787,000 after buying an additional 5,298 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on JNJ shares. Citigroup lifted their target price on shares of Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company upped their price target on Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Daiwa Capital Markets downgraded Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Finally, StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $175.93.

Johnson & Johnson Stock Up 0.2 %

Shares of NYSE JNJ opened at $160.13 on Friday. The business’s 50 day moving average is $163.31 and its two-hundred day moving average is $155.51. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. The firm has a market cap of $385.53 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 2.84 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The firm had revenue of $22.47 billion for the quarter, compared to the consensus estimate of $22.17 billion. During the same period in the prior year, the firm earned $2.66 EPS. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. Research analysts predict that Johnson & Johnson will post 9.94 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. Investors of record on Tuesday, November 26th will be issued a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a yield of 3.10%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 71.78%.

Insiders Place Their Bets

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 completion of the transaction, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.16% of the stock is owned by company insiders.

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.