Pinnacle Bancorp Inc. Has $2.71 Million Holdings in Johnson & Johnson (NYSE:JNJ)

Pinnacle Bancorp Inc. raised its holdings in Johnson & Johnson (NYSE:JNJ) by 6.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,723 shares of the company’s stock after acquiring an additional 955 shares during the quarter. Johnson & Johnson comprises approximately 0.7% of Pinnacle Bancorp Inc.’s holdings, making the stock its 25th largest position. Pinnacle Bancorp Inc.’s holdings in Johnson & Johnson were worth $2,710,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Innealta Capital LLC acquired a new position in shares of Johnson & Johnson during the 2nd quarter valued at about $27,000. MFA Wealth Advisors LLC acquired a new stake in shares of Johnson & Johnson in the second quarter worth $43,000. Fairfield Financial Advisors LTD bought a new stake in shares of Johnson & Johnson during the 2nd quarter worth $46,000. Grayhawk Investment Strategies Inc. raised its holdings in Johnson & Johnson by 528.6% in the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after acquiring an additional 259 shares during the period. Finally, Fairway Wealth LLC lifted its position in Johnson & Johnson by 217.1% during the 2nd quarter. Fairway Wealth LLC now owns 333 shares of the company’s stock worth $49,000 after acquiring an additional 228 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on JNJ shares. Royal Bank of Canada lifted their price objective on Johnson & Johnson from $175.00 to $178.00 and gave the stock an “outperform” rating in a research note on Tuesday. The Goldman Sachs Group lowered their price objective on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Daiwa Capital Markets downgraded shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. Morgan Stanley boosted their price objective on shares of Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Thursday. 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 company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $173.43.

Insiders Place Their Bets

In related 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 value of $930,113.10. Following the completion of the sale, the vice president now owns 18,973 shares of the company’s stock, valued at $3,131,683.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ opened at $160.52 on Friday. The stock has a market capitalization of $386.41 billion, a price-to-earnings ratio of 10.03, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. The business’s fifty day moving average price is $162.65 and its two-hundred day moving average price is $154.41. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $168.85. 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 (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.11. The firm had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the firm posted $2.80 EPS. As a group, analysts predict that Johnson & Johnson will post 10 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were given a $1.24 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 3.09%. Johnson & Johnson’s payout ratio is 30.98%.

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.