Cypress Capital Group Sells 1,834 Shares of Johnson & Johnson (NYSE:JNJ)

Cypress Capital Group decreased its stake in shares of Johnson & Johnson (NYSE:JNJ) by 2.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 78,429 shares of the company’s stock after selling 1,834 shares during the period. Johnson & Johnson comprises 1.4% of Cypress Capital Group’s portfolio, making the stock its 13th largest holding. Cypress Capital Group’s holdings in Johnson & Johnson were worth $12,710,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Landscape Capital Management L.L.C. purchased a new position in shares of Johnson & Johnson during the 3rd quarter worth $365,000. Overbrook Management Corp raised its holdings in Johnson & Johnson by 3.4% in the 3rd quarter. Overbrook Management Corp now owns 6,455 shares of the company’s stock worth $1,046,000 after purchasing an additional 212 shares during the period. Cornerstone Advisors LLC lifted its position in Johnson & Johnson by 4.7% during the third quarter. Cornerstone Advisors LLC now owns 120,102 shares of the company’s stock valued at $19,464,000 after purchasing an additional 5,400 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Johnson & Johnson by 3.9% during the third quarter. EverSource Wealth Advisors LLC now owns 19,121 shares of the company’s stock valued at $3,099,000 after purchasing an additional 725 shares during the period. Finally, Altman Advisors Inc. purchased a new stake in Johnson & Johnson in the third quarter worth about $1,574,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insider Activity

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction 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 22.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Up 0.1 %

Shares of NYSE:JNJ opened at $153.10 on Thursday. The company has a market cap of $368.59 billion, a price-to-earnings ratio of 22.16, 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 current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $160.59 and a 200 day moving average price of $156.17.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.21. The business had revenue of $22.47 billion during the quarter, compared to analyst estimates of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the company earned $2.66 EPS. As a group, equities research analysts predict that Johnson & Johnson will post 9.93 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is 71.78%.

Analysts Set New Price Targets

A number of equities research analysts have commented on JNJ shares. Wells Fargo & Company raised their target price on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Wolfe Research initiated coverage on shares of Johnson & Johnson in a research report on Friday, November 15th. They set an “outperform” rating and a $190.00 price objective on the stock. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Wednesday, October 16th. Finally, Guggenheim increased their target price on Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average target price of $175.94.

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.