Ballast Inc. Reduces Stock Position in Johnson & Johnson (NYSE:JNJ)

Ballast Inc. reduced its position in shares of Johnson & Johnson (NYSE:JNJ) by 0.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,132 shares of the company’s stock after selling 76 shares during the period. Johnson & Johnson accounts for about 1.0% of Ballast Inc.’s investment portfolio, making the stock its 19th largest position. Ballast Inc.’s holdings in Johnson & Johnson were worth $3,587,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Summit Wealth Partners LLC lifted its position in shares of Johnson & Johnson by 0.6% during the 2nd quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company’s stock valued at $1,463,000 after acquiring an additional 61 shares during the period. Citizens & Northern Corp boosted its position in shares of Johnson & Johnson by 3.5% during the 2nd quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock worth $275,000 after acquiring an additional 63 shares in the last quarter. Eagle Wealth Strategies LLC raised its position in Johnson & Johnson by 2.8% during the third quarter. Eagle Wealth Strategies LLC now owns 2,294 shares of the company’s stock valued at $372,000 after purchasing an additional 63 shares in the last quarter. Epic Trust Investment Advisors LLC increased its stake in shares of Johnson & Johnson by 3.6% in the 2nd quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock valued at $268,000 after purchasing an additional 64 shares during the last quarter. Finally, Pine Harbor Wealth Management LLC lifted its position in shares of Johnson & Johnson by 1.9% during the 2nd quarter. Pine Harbor Wealth Management LLC now owns 3,472 shares of the company’s stock worth $507,000 after buying an additional 64 shares during the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Up 0.1 %

Shares of NYSE JNJ opened at $164.49 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The firm has a market cap of $395.87 billion, a PE ratio of 10.25, a P/E/G ratio of 2.65 and a beta of 0.52. The company’s fifty day simple moving average is $162.89 and its 200 day simple moving average is $154.66. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.21 by $0.21. The company had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the business posted $2.66 EPS. As a group, sell-side analysts forecast that Johnson & Johnson will post 10 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be paid 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 3.02%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Daiwa Capital Markets cut shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Royal Bank of Canada boosted their price target on Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a report on Wednesday. Sanford C. Bernstein raised their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. TD Securities decreased their price target on shares of Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Finally, Daiwa America downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $175.93.

Insiders Place Their Bets

In other news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the sale, the vice president now directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson 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.