Principal Street Partners LLC Decreases Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Principal Street Partners LLC lessened its holdings in Johnson & Johnson (NYSE:JNJ) by 21.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 33,488 shares of the company’s stock after selling 9,051 shares during the quarter. Principal Street Partners LLC’s holdings in Johnson & Johnson were worth $5,406,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of JNJ. China Universal Asset Management Co. Ltd. purchased a new position in shares of Johnson & Johnson during the 1st quarter worth approximately $765,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of Johnson & Johnson during the 1st quarter worth about $2,069,000. Adalta Capital Management LLC raised its holdings in shares of Johnson & Johnson by 4.0% during the 1st quarter. Adalta Capital Management LLC now owns 18,271 shares of the company’s stock valued at $2,890,000 after buying an additional 700 shares during the period. Beacon Capital Management LLC increased its stake in Johnson & Johnson by 20.6% during the 1st quarter. Beacon Capital Management LLC now owns 6,332 shares of the company’s stock worth $1,002,000 after buying an additional 1,081 shares during the period. Finally, Jaffetilchin Investment Partners LLC grew its stake in Johnson & Johnson by 3.5% during the 1st quarter. Jaffetilchin Investment Partners LLC now owns 33,954 shares of the company’s stock valued at $5,371,000 after purchasing an additional 1,142 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on JNJ shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Wells Fargo & Company raised their target price on shares of Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Wolfe Research began coverage on Johnson & Johnson in a research note on Friday, November 15th. They issued an “outperform” rating and a $190.00 price objective on the stock. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Finally, Guggenheim upped their target price on Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $175.94.

Insiders Place Their Bets

In other news, VP Robert J. Decker sold 5,635 shares of the 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 completion of the transaction, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. This represents a 22.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Up 0.3 %

Shares of JNJ stock opened at $154.94 on Tuesday. The stock has a 50 day moving average of $159.98 and a 200-day moving average of $156.36. The firm has a market cap of $373.04 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 2.76 and a beta of 0.53. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. 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 quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, beating 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 firm had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. During the same period in the prior year, the firm earned $2.66 EPS. The business’s revenue was up 5.2% on a year-over-year basis. On average, equities analysts predict that Johnson & Johnson will post 9.93 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 annualized dividend and a yield of 3.20%. Johnson & Johnson’s dividend payout ratio is 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.