Lowe Brockenbrough & Co. Inc. Decreases Stake in Johnson & Johnson (NYSE:JNJ)

Lowe Brockenbrough & Co. Inc. decreased its holdings in Johnson & Johnson (NYSE:JNJ) by 4.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 94,226 shares of the company’s stock after selling 4,459 shares during the period. Johnson & Johnson makes up about 1.0% of Lowe Brockenbrough & Co. Inc.’s investment portfolio, making the stock its 25th largest position. Lowe Brockenbrough & Co. Inc.’s holdings in Johnson & Johnson were worth $15,270,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pachira Investments Inc. grew its stake in shares of Johnson & Johnson by 6.4% in the first quarter. Pachira Investments Inc. now owns 4,353 shares of the company’s stock valued at $689,000 after buying an additional 262 shares in the last quarter. Massachusetts Wealth Management grew its position in Johnson & Johnson by 1.4% in the first quarter. Massachusetts Wealth Management now owns 17,572 shares of the company’s stock valued at $2,780,000 after acquiring an additional 250 shares in the last quarter. Kovack Advisors Inc. raised its stake in shares of Johnson & Johnson by 9.4% during the first quarter. Kovack Advisors Inc. now owns 32,041 shares of the company’s stock valued at $5,069,000 after purchasing an additional 2,759 shares during the period. Cornerstone Wealth Management LLC lifted its position in shares of Johnson & Johnson by 5.0% during the first quarter. Cornerstone Wealth Management LLC now owns 42,109 shares of the company’s stock worth $6,661,000 after purchasing an additional 2,007 shares in the last quarter. Finally, First Trust Direct Indexing L.P. boosted its stake in shares of Johnson & Johnson by 10.5% in the first quarter. First Trust Direct Indexing L.P. now owns 55,544 shares of the company’s stock valued at $8,787,000 after purchasing an additional 5,298 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Johnson & Johnson

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

Analyst Ratings Changes

A number of equities analysts have commented on the stock. TD Securities cut their price objective on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Daiwa Capital Markets downgraded Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. Morgan Stanley lifted their price objective on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Citigroup increased their target price on Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada lifted their price target on shares of Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $175.93.

Johnson & Johnson Price Performance

JNJ opened at $160.13 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. The company’s 50-day moving average price is $163.31 and its 200 day moving average price is $155.51. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $168.85. The firm has a market cap of $385.53 billion, a price-to-earnings ratio of 23.17, a price-to-earnings-growth ratio of 2.84 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.21. The business had revenue of $22.47 billion for the quarter, compared to the consensus estimate of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $2.66 EPS. As a group, sell-side analysts expect that Johnson & Johnson will post 9.94 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company 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. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.10%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 71.78%.

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.