Sound View Wealth Advisors Group LLC cut its stake in Johnson & Johnson (NYSE:JNJ) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,236 shares of the company’s stock after selling 669 shares during the period. Johnson & Johnson comprises about 2.5% of Sound View Wealth Advisors Group LLC’s investment portfolio, making the stock its 3rd largest position. Sound View Wealth Advisors Group LLC’s holdings in Johnson & Johnson were worth $9,563,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Newfound Research LLC bought a new position in shares of Johnson & Johnson in the third quarter worth about $28,000. Islay Capital Management LLC bought a new position in shares of Johnson & Johnson in the second quarter worth about $42,000. FAI Wealth Management grew its holdings in shares of Johnson & Johnson by 45.9% in the second quarter. FAI Wealth Management now owns 321 shares of the company’s stock worth $45,000 after purchasing an additional 101 shares during the last quarter. SeaBridge Investment Advisors LLC grew its holdings in shares of Johnson & Johnson by 160.0% in the second quarter. SeaBridge Investment Advisors LLC now owns 325 shares of the company’s stock worth $46,000 after purchasing an additional 200 shares during the last quarter. Finally, Crewe Advisors LLC grew its holdings in shares of Johnson & Johnson by 909.1% in the third quarter. Crewe Advisors LLC now owns 333 shares of the company’s stock worth $50,000 after purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 67.44% of the company’s stock.
A number of research analysts have recently commented on JNJ shares. Stifel Nicolaus cut shares of Johnson & Johnson from a “buy” rating to a “hold” rating in a report on Wednesday, August 19th. ValuEngine raised shares of Johnson & Johnson from a “sell” rating to a “hold” rating in a research note on Monday, August 3rd. Raymond James reaffirmed a “buy” rating on shares of Johnson & Johnson in a research note on Friday. Cantor Fitzgerald upped their price objective on shares of Johnson & Johnson from $168.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 14th. Finally, Credit Suisse Group upped their price objective on shares of Johnson & Johnson from $163.00 to $168.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. Johnson & Johnson currently has a consensus rating of “Buy” and an average price target of $164.93.
Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Sunday, October 18th. The company reported $2.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.98 by $0.22. The business had revenue of $21.08 billion during the quarter, compared to analyst estimates of $20.15 billion. Johnson & Johnson had a net margin of 21.01% and a return on equity of 34.64%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.12 earnings per share. As a group, equities analysts predict that Johnson & Johnson will post 7.99 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 8th. Investors of record on Tuesday, November 24th will be given a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Monday, November 23rd. Johnson & Johnson’s payout ratio is currently 46.54%.
In related news, EVP Kathryn E. Wengel sold 16,115 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $153.52, for a total value of $2,473,974.80. Following the completion of the transaction, the executive vice president now directly owns 66,658 shares of the company’s stock, valued at approximately $10,233,336.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.27% of the company’s stock.
About Johnson & Johnson
Johnson & Johnson researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DR.
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