Pinnacle West Asset Management Inc. Has $2.28 Million Position in Johnson & Johnson (NYSE:JNJ)

Pinnacle West Asset Management Inc. raised its position in shares of Johnson & Johnson (NYSE:JNJFree Report) by 5.6% during the third quarter, HoldingsChannel reports. The firm owned 14,620 shares of the company’s stock after purchasing an additional 775 shares during the period. Johnson & Johnson makes up approximately 2.2% of Pinnacle West Asset Management Inc.’s holdings, making the stock its 9th biggest holding. Pinnacle West Asset Management Inc.’s holdings in Johnson & Johnson were worth $2,277,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Hibernia Wealth Partners LLC purchased a new stake in Johnson & Johnson in the third quarter worth about $27,000. FNY Investment Advisers LLC purchased a new stake in Johnson & Johnson in the third quarter worth about $37,000. Tower View Wealth Management LLC lifted its holdings in shares of Johnson & Johnson by 183.3% during the third quarter. Tower View Wealth Management LLC now owns 255 shares of the company’s stock valued at $40,000 after purchasing an additional 165 shares during the last quarter. Creative Capital Management Investments LLC lifted its holdings in shares of Johnson & Johnson by 43.0% during the third quarter. Creative Capital Management Investments LLC now owns 286 shares of the company’s stock valued at $45,000 after purchasing an additional 86 shares during the last quarter. Finally, VitalStone Financial LLC purchased a new position in shares of Johnson & Johnson during the second quarter valued at approximately $48,000. Hedge funds and other institutional investors own 68.40% of the company’s stock.

Johnson & Johnson Trading Up 0.2 %

NYSE:JNJ opened at $156.76 on Monday. The company has a current ratio of 1.21, a quick ratio of 0.96 and a debt-to-equity ratio of 0.37. Johnson & Johnson has a 12 month low of $144.95 and a 12 month high of $175.97. The company has a market cap of $377.37 billion, a PE ratio of 11.35, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. The company has a 50 day simple moving average of $158.20 and a two-hundred day simple moving average of $158.73.

Johnson & Johnson (NYSE:JNJGet Free Report) last issued its quarterly earnings data on Tuesday, January 23rd. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.28 by $0.01. Johnson & Johnson had a net margin of 37.79% and a return on equity of 36.75%. The firm had revenue of $21.40 billion during the quarter, compared to the consensus estimate of $21.02 billion. During the same quarter in the previous year, the firm posted $2.35 EPS. The company’s revenue for the quarter was down 9.7% compared to the same quarter last year. Research analysts forecast that Johnson & Johnson will post 10.65 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 5th. Stockholders of record on Tuesday, February 20th will be given a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, February 16th. Johnson & Johnson’s payout ratio is 34.47%.

Analyst Ratings Changes

Several research firms have recently issued reports on JNJ. Wells Fargo & Company lowered shares of Johnson & Johnson from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $170.00 to $163.00 in a report on Wednesday, December 13th. Raymond James boosted their price objective on shares of Johnson & Johnson from $172.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, January 3rd. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a report on Tuesday, February 6th. TheStreet lowered shares of Johnson & Johnson from a “b” rating to a “c+” rating in a report on Friday, November 17th. Finally, Morgan Stanley decreased their price objective on shares of Johnson & Johnson from $170.00 to $169.00 and set an “equal weight” rating for the company in a report on Wednesday, January 24th. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and an average target price of $176.14.

View Our Latest Analysis on Johnson & Johnson

Johnson & Johnson Profile

(Free Report)

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment provides skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR. CI:LABO, NEUTROGENA, and OGX brands; baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; TYLENOL acetaminophen products; SUDAFED cold, flu, and allergy products; BENADRYL and ZYRTEC allergy products; MOTRIN IB ibuprofen products; NICORETTE smoking cessation products; and PEPCID acid reflux products.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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