Main Street Financial Solutions LLC Cuts Stock Position in Johnson & Johnson (NYSE:JNJ)

Main Street Financial Solutions LLC trimmed its stake in shares of Johnson & Johnson (NYSE:JNJ) by 4.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,392 shares of the company’s stock after selling 1,755 shares during the period. Main Street Financial Solutions LLC’s holdings in Johnson & Johnson were worth $5,574,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. International Assets Investment Management LLC boosted its stake in Johnson & Johnson by 20,130.0% during the 3rd quarter. International Assets Investment Management LLC now owns 3,454,473 shares of the company’s stock worth $559,832,000 after purchasing an additional 3,437,397 shares during the last quarter. Marshall Wace LLP grew its stake in Johnson & Johnson by 506.9% during the 2nd quarter. Marshall Wace LLP now owns 3,884,962 shares of the company’s stock valued at $567,826,000 after acquiring an additional 3,244,862 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Johnson & Johnson by 16.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock valued at $3,453,978,000 after acquiring an additional 3,139,499 shares during the last quarter. Ninety One UK Ltd boosted its holdings in shares of Johnson & Johnson by 59.0% during the 2nd quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock worth $980,579,000 after purchasing an additional 2,489,925 shares during the last quarter. Finally, Swedbank AB acquired a new stake in shares of Johnson & Johnson in the first quarter valued at approximately $331,178,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on JNJ. Guggenheim upped their target price on Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. The Goldman Sachs Group dropped their price objective on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, July 19th. TD Securities decreased their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Sanford C. Bernstein raised their price target on shares of Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Finally, Daiwa Capital Markets cut Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. Seven 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $175.00.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the sale, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is owned by insiders.

Johnson & Johnson Trading Up 0.4 %

JNJ opened at $153.28 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. The stock has a market capitalization of $369.04 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 2.71 and a beta of 0.53. The business has a fifty day moving average price of $162.10 and a 200 day moving average price of $156.01. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85.

Johnson & Johnson (NYSE:JNJ) last released 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 19.14% and a return on equity of 35.45%. The firm had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. During the same period in the prior year, the firm earned $2.66 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. Sell-side analysts expect that Johnson & Johnson will post 9.93 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

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 issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.24%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 71.78%.

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.