Cary Street Partners Asset Management LLC Sells 511 Shares of Johnson & Johnson (NYSE:JNJ)

Cary Street Partners Asset Management LLC trimmed its position in Johnson & Johnson (NYSE:JNJ) by 1.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 39,993 shares of the company’s stock after selling 511 shares during the period. Cary Street Partners Asset Management LLC’s holdings in Johnson & Johnson were worth $6,481,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in Johnson & Johnson in the second quarter valued at about $27,000. Highline Wealth Partners LLC purchased a new position in Johnson & Johnson in the third quarter valued at about $31,000. Mowery & Schoenfeld Wealth Management LLC boosted its stake in Johnson & Johnson by 58.7% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after acquiring an additional 91 shares during the last quarter. Morton Brown Family Wealth LLC boosted its stake in Johnson & Johnson by 400.0% in the third quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock valued at $41,000 after acquiring an additional 200 shares during the last quarter. Finally, MFA Wealth Advisors LLC purchased a new position in Johnson & Johnson in the second quarter valued at about $43,000. 69.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on JNJ. Wells Fargo & Company boosted their target price on shares of Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. TD Securities dropped their price target on shares of Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Sanford C. Bernstein upped their price target on shares of Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Morgan Stanley upped their price target on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $175.93.

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 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Johnson & Johnson Stock Down 1.2 %

JNJ opened at $158.24 on Tuesday. 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 business’s fifty day simple moving average is $163.18 and its 200 day simple moving average is $155.68. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85. The stock has a market cap of $380.98 billion, a PE ratio of 22.90, a P/E/G ratio of 2.84 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. The company had revenue of $22.47 billion for the quarter, compared to analysts’ expectations of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. Johnson & Johnson’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the firm posted $2.66 EPS. As a group, research analysts expect that Johnson & Johnson will post 9.94 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be issued a dividend of $1.24 per share. 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 3.13%. Johnson & Johnson’s dividend payout ratio is currently 71.78%.

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.