Peak Asset Management LLC Lowers Holdings in Johnson & Johnson (NYSE:JNJ)

Peak Asset Management LLC reduced its position in shares of Johnson & Johnson (NYSE:JNJ) by 3.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,119 shares of the company’s stock after selling 425 shares during the period. Peak Asset Management LLC’s holdings in Johnson & Johnson were worth $1,964,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of JNJ. Plato Investment Management Ltd raised its position in shares of Johnson & Johnson by 0.4% during the 3rd quarter. Plato Investment Management Ltd now owns 60,397 shares of the company’s stock valued at $9,778,000 after buying an additional 214 shares in the last quarter. D Orazio & Associates Inc. boosted its holdings in shares of Johnson & Johnson by 27.5% in the 3rd quarter. D Orazio & Associates Inc. now owns 7,303 shares of the company’s stock worth $1,184,000 after purchasing an additional 1,573 shares in the last quarter. Schrum Private Wealth Management LLC raised its holdings in shares of Johnson & Johnson by 50.7% during the 3rd quarter. Schrum Private Wealth Management LLC now owns 10,474 shares of the company’s stock valued at $1,698,000 after buying an additional 3,526 shares in the last quarter. Parthenon LLC boosted its stake in Johnson & Johnson by 0.4% in the third quarter. Parthenon LLC now owns 126,275 shares of the company’s stock worth $20,464,000 after buying an additional 442 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in Johnson & Johnson by 0.4% during the third quarter. Oppenheimer Asset Management Inc. now owns 575,944 shares of the company’s stock valued at $93,337,000 after acquiring an additional 2,040 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

JNJ has been the topic of a number of analyst reports. TD Cowen decreased their target price on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Citigroup increased their target price on Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Daiwa America downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. 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, The Goldman Sachs Group cut their price target on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $175.00.

Johnson & Johnson Stock Up 0.4 %

NYSE:JNJ opened at $153.28 on Thursday. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. The company has a market capitalization of $369.04 billion, a PE ratio of 22.18, a P/E/G ratio of 2.71 and a beta of 0.53. The firm’s 50-day moving average price is $162.10 and its 200-day moving average price is $156.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79.

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

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s payout ratio is 71.78%.

Insider Buying and Selling

In other news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction on Friday, August 30th. The stock was 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 $3,131,683.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is owned by company insiders.

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.