Johnson & Johnson (NYSE:JNJ) Shares Acquired by Independence Bank of Kentucky

Independence Bank of Kentucky grew its holdings in Johnson & Johnson (NYSE:JNJ) by 10.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,082 shares of the company’s stock after buying an additional 3,281 shares during the period. Johnson & Johnson accounts for about 1.3% of Independence Bank of Kentucky’s holdings, making the stock its 17th biggest holding. Independence Bank of Kentucky’s holdings in Johnson & Johnson were worth $5,847,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Worth Asset Management LLC increased its position in Johnson & Johnson by 11.1% during the third quarter. Worth Asset Management LLC now owns 1,785 shares of the company’s stock worth $289,000 after purchasing an additional 178 shares during the last quarter. Albion Financial Group UT increased its position in Johnson & Johnson by 4.8% during the third quarter. Albion Financial Group UT now owns 9,197 shares of the company’s stock worth $1,490,000 after purchasing an additional 420 shares during the last quarter. Private Advisory Group LLC increased its position in Johnson & Johnson by 8.0% during the third quarter. Private Advisory Group LLC now owns 23,062 shares of the company’s stock worth $3,737,000 after purchasing an additional 1,718 shares during the last quarter. Watts Gwilliam & Co. LLC acquired a new stake in Johnson & Johnson during the third quarter worth about $1,141,000. Finally, Agate Pass Investment Management LLC increased its position in Johnson & Johnson by 0.3% during the third quarter. Agate Pass Investment Management LLC now owns 21,640 shares of the company’s stock worth $3,507,000 after purchasing an additional 74 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Sanford C. Bernstein raised their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Daiwa America cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. TD Securities dropped their price target on shares of Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Daiwa Capital Markets cut shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Finally, StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $173.43.

Johnson & Johnson Stock Up 0.8 %

Shares of NYSE JNJ traded up $1.24 during midday trading on Friday, hitting $161.75. The company’s stock had a trading volume of 606,549 shares, compared to its average volume of 7,014,663. The business’s fifty day simple moving average is $162.64 and its two-hundred day simple moving average is $154.45. 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 has a 1 year low of $143.13 and a 1 year high of $168.85. The firm has a market capitalization of $389.37 billion, a price-to-earnings ratio of 10.03, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The business had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.33 billion. During the same quarter last year, the firm posted $2.80 earnings per share. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, equities analysts predict that Johnson & Johnson will post 10 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were paid a $1.24 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a yield of 3.07%. Johnson & Johnson’s dividend payout ratio is currently 30.98%.

Insider Buying and Selling

In related news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction that occurred on 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 owns 18,973 shares in the company, valued at $3,131,683.38. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is owned by insiders.

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.