Johnson & Johnson (NYSE:JNJ) Shares Sold by Principal Street Partners LLC

by · The Markets Daily

Principal Street Partners LLC lowered its holdings in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 21.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Avestar Capital LLC grew its stake in Johnson & Johnson by 19.2% in the 3rd quarter. Avestar Capital LLC now owns 13,090 shares of the company’s stock valued at $2,121,000 after acquiring an additional 2,110 shares during the period. Covington Investment Advisors Inc. grew its position in shares of Johnson & Johnson by 1.0% in the third quarter. Covington Investment Advisors Inc. now owns 54,296 shares of the company’s stock valued at $8,799,000 after purchasing an additional 521 shares during the period. Prospector Partners LLC raised its position in shares of Johnson & Johnson by 0.8% during the 3rd quarter. Prospector Partners LLC now owns 66,647 shares of the company’s stock worth $10,801,000 after purchasing an additional 513 shares during the last quarter. FMR LLC lifted its stake in Johnson & Johnson by 7.4% in the 3rd quarter. FMR LLC now owns 18,316,920 shares of the company’s stock valued at $2,968,440,000 after buying an additional 1,265,748 shares in the last quarter. Finally, Elios Financial Group Inc. acquired a new stake in Johnson & Johnson in the 3rd quarter worth about $717,000. 69.55% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $154.94 on Tuesday. The stock has a market cap of $373.04 billion, a PE ratio of 22.54, a P/E/G ratio of 2.76 and a beta of 0.53. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $168.85. The stock has a fifty day simple moving average of $159.98 and a 200-day simple moving average of $156.36. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last released its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.21 by $0.21. The business had revenue of $22.47 billion during the quarter, compared to analyst estimates of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the business posted $2.66 earnings per share. Equities analysts anticipate that Johnson & Johnson will post 9.93 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

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 paid a dividend of $1.24 per share. 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 payout ratio is currently 71.78%.

Insiders Place Their Bets

In other Johnson & Johnson 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 transaction of $930,113.10. Following the sale, the vice president now owns 18,973 shares in the company, valued at $3,131,683.38. This represents a 22.90 % decrease in their position. The sale 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.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Citigroup raised their target price on Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Company lifted their target price on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Royal Bank of Canada increased their target price on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Wolfe Research initiated coverage on shares of Johnson & Johnson in a research note on Friday, November 15th. They set an “outperform” rating and a $190.00 price objective for the company. Finally, Morgan Stanley raised their target price on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Seven investment 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $175.94.

Check Out Our Latest Stock Analysis on JNJ

About Johnson & Johnson

(Free Report)

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.

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