Cutler Investment Counsel LLC Sells 1,780 Shares of Johnson & Johnson (NYSE:JNJ)

Cutler Investment Counsel LLC lowered its position in Johnson & Johnson (NYSE:JNJ) by 3.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 54,380 shares of the company’s stock after selling 1,780 shares during the period. Cutler Investment Counsel LLC’s holdings in Johnson & Johnson were worth $8,813,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Innealta Capital LLC bought a new stake in shares of Johnson & Johnson in the 2nd quarter worth about $27,000. Highline Wealth Partners LLC acquired a new stake in Johnson & Johnson in the 3rd quarter worth approximately $31,000. Mowery & Schoenfeld Wealth Management LLC lifted its holdings in shares of Johnson & Johnson by 58.7% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after purchasing an additional 91 shares during the period. Morton Brown Family Wealth LLC grew its position in Johnson & Johnson by 400.0% during the 3rd quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock worth $41,000 after purchasing an additional 200 shares during the period. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Johnson & Johnson in the 2nd quarter valued at $43,000. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Trading Up 1.4 %

Shares of NYSE JNJ traded up $2.13 during trading on Friday, reaching $154.00. The company had a trading volume of 11,328,515 shares, compared to its average volume of 7,017,128. The stock has a market cap of $370.77 billion, a P/E ratio of 22.29, a PEG ratio of 2.72 and a beta of 0.53. Johnson & Johnson has a 12 month low of $143.13 and a 12 month 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 company’s fifty day moving average price is $161.35 and its 200-day moving average price is $156.02.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, October 15th. The company reported $2.42 EPS 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 company had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. During the same period in the previous year, the firm posted $2.66 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, research analysts expect that Johnson & Johnson will post 9.93 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed 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 3.22%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s payout ratio is 71.78%.

Wall Street Analyst Weigh In

JNJ has been the topic of a number of research reports. Guggenheim raised their price objective on Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Daiwa America cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Morgan Stanley lifted their price objective on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Finally, Wolfe Research assumed coverage on Johnson & Johnson in a research note on Friday. They issued an “outperform” rating and a $190.00 price target on the stock. Seven analysts have rated the stock with a hold rating, eight have given 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 target price of $175.94.

Insider Activity

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction dated Friday, August 30th. The shares were 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 directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The trade was a 22.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

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.