Johnson & Johnson (NYSE:JNJ) Shares Sold by Norway Savings Bank

Norway Savings Bank reduced its position in Johnson & Johnson (NYSE:JNJ) by 2.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,656 shares of the company’s stock after selling 453 shares during the quarter. Johnson & Johnson comprises about 1.5% of Norway Savings Bank’s investment portfolio, making the stock its 21st biggest position. Norway Savings Bank’s holdings in Johnson & Johnson were worth $2,699,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. purchased a new position in shares of Johnson & Johnson in the fourth quarter valued at $54,000. PVG Asset Management Corp grew its stake in shares of Johnson & Johnson by 28.8% during the fourth quarter. PVG Asset Management Corp now owns 3,899 shares of the company’s stock valued at $611,000 after acquiring an additional 872 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Johnson & Johnson during the fourth quarter worth about $592,000. Golden Road Advisors LLC acquired a new position in shares of Johnson & Johnson in the fourth quarter worth about $238,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new stake in Johnson & Johnson during the 4th quarter valued at approximately $2,300,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Trading Up 1.4 %

Shares of NYSE JNJ traded up $2.22 during midday trading on Tuesday, hitting $163.82. The stock had a trading volume of 4,587,624 shares, compared to its average volume of 7,021,804. The company’s 50-day simple moving average is $162.60 and its 200 day simple moving average is $154.48. The firm has a market cap of $394.26 billion, a P/E ratio of 10.07, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $168.85. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.71 by $0.11. The company had revenue of $22.45 billion during the quarter, compared to analysts’ expectations of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the firm earned $2.80 EPS. Research analysts anticipate that Johnson & Johnson will post 10 EPS for the current year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.03%. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on JNJ. Sanford C. Bernstein increased their price target on Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. TD Securities lowered their price target on shares of Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Morgan Stanley boosted their target price on shares of Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Royal Bank of Canada raised their price objective on shares of Johnson & Johnson from $175.00 to $178.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, 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 note on Tuesday, July 23rd. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus target price of $174.31.

Insider Activity at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction dated 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 sale, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.16% of the stock is currently owned by corporate 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.