Covenant Asset Management LLC Sells 875 Shares of Johnson & Johnson (NYSE:JNJ)

Covenant Asset Management LLC lowered its position in shares of Johnson & Johnson (NYSE:JNJ) by 5.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,701 shares of the company’s stock after selling 875 shares during the quarter. Covenant Asset Management LLC’s holdings in Johnson & Johnson were worth $2,707,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Meridian Financial Partners LLC bought a new position in shares of Johnson & Johnson during the 2nd quarter worth about $1,626,000. Meridian Investment Counsel Inc. boosted its position in shares of Johnson & Johnson by 19.6% during the 3rd quarter. Meridian Investment Counsel Inc. now owns 22,629 shares of the company’s stock worth $3,667,000 after purchasing an additional 3,710 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Johnson & Johnson by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock worth $2,858,543,000 after purchasing an additional 102,502 shares in the last quarter. Sheaff Brock Investment Advisors LLC raised its holdings in shares of Johnson & Johnson by 137.2% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 43,568 shares of the company’s stock worth $7,061,000 after acquiring an additional 25,203 shares during the last quarter. Finally, Lmcg Investments LLC raised its holdings in shares of Johnson & Johnson by 32.7% in the 3rd quarter. Lmcg Investments LLC now owns 87,162 shares of the company’s stock worth $14,125,000 after acquiring an additional 21,471 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wolfe Research assumed coverage on shares of Johnson & Johnson in a report on Friday, November 15th. They issued an “outperform” rating and a $190.00 target price on the stock. 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. Royal Bank of Canada raised their price objective on shares of Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Finally, Citigroup raised their price objective on shares of Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $175.94.

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson 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 transaction, the vice president now owns 18,973 shares in the company, valued at $3,131,683.38. This trade represents a 22.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is currently owned by insiders.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $155.79 on Friday. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. The company has a market capitalization of $375.08 billion, a P/E ratio of 22.55, a P/E/G ratio of 2.72 and a beta of 0.53. The company has a fifty day moving average of $160.41 and a 200-day moving average 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, topping analysts’ consensus estimates 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 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, equities research analysts predict that Johnson & Johnson will post 9.93 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio is currently 71.78%.

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.