Johnson & Johnson (NYSE:JNJ) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its stake in Johnson & Johnson (NYSE:JNJ) by 1.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 6,213,679 shares of the company’s stock after selling 93,807 shares during the quarter. Johnson & Johnson comprises about 0.6% of PNC Financial Services Group Inc.’s holdings, making the stock its 23rd largest position. PNC Financial Services Group Inc.’s holdings in Johnson & Johnson were worth $1,006,989,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of JNJ. International Assets Investment Management LLC lifted its holdings in Johnson & Johnson by 20,130.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,454,473 shares of the company’s stock worth $559,832,000 after buying an additional 3,437,397 shares in the last quarter. Marshall Wace LLP boosted its holdings in Johnson & Johnson by 506.9% in the second quarter. Marshall Wace LLP now owns 3,884,962 shares of the company’s stock valued at $567,826,000 after purchasing an additional 3,244,862 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Johnson & Johnson by 16.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock valued at $3,453,978,000 after purchasing an additional 3,139,499 shares in the last quarter. Ninety One UK Ltd increased its holdings in Johnson & Johnson by 59.0% during the 2nd quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock worth $980,579,000 after purchasing an additional 2,489,925 shares during the last quarter. Finally, Swedbank AB acquired a new position in shares of Johnson & Johnson in the 1st quarter valued at approximately $331,178,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

JNJ has been the subject of a number of research analyst reports. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Wolfe Research began coverage on shares of Johnson & Johnson in a research report on Friday. They issued an “outperform” rating and a $190.00 target price for the company. Wells Fargo & Company increased their price target on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a report on Wednesday, October 16th. Finally, Daiwa Capital Markets downgraded Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $160.00 to $150.00 in a report on Tuesday, July 23rd. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $175.94.

Johnson & Johnson Stock Performance

JNJ stock opened at $154.77 on Tuesday. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85. The stock has a market capitalization of $372.63 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 2.74 and a beta of 0.53. 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 stock’s fifty day moving average is $161.11 and its two-hundred day moving average is $156.16.

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

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio is currently 71.78%.

Insider Buying and Selling at Johnson & Johnson

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

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.