Cutler Investment Counsel LLC Sells 1,780 Shares of Johnson & Johnson (NYSE:JNJ)

Cutler Investment Counsel LLC cut its position in shares of Johnson & Johnson (NYSE:JNJ) by 3.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,380 shares of the company’s stock after selling 1,780 shares during the period. Cutler Investment Counsel LLC’s holdings in Johnson & Johnson were worth $8,813,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Innealta Capital LLC acquired a new stake in Johnson & Johnson during the 2nd quarter worth about $27,000. Highline Wealth Partners LLC acquired a new position in shares of Johnson & Johnson during the 3rd quarter worth approximately $31,000. Mowery & Schoenfeld Wealth Management LLC lifted its holdings in Johnson & Johnson by 58.7% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after purchasing an additional 91 shares in the last quarter. Morton Brown Family Wealth LLC increased its stake in Johnson & Johnson by 400.0% during the 3rd quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock worth $41,000 after buying an additional 200 shares in the last quarter. Finally, MFA Wealth Advisors LLC acquired a new position in Johnson & Johnson in the 2nd quarter valued at $43,000. 69.55% of the stock is owned by institutional investors.

Insider Activity

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the business’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 completion of the transaction, the vice president now owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The trade was a 22.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

JNJ has been the subject of a number of analyst reports. Royal Bank of Canada upped their price objective on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Wolfe Research assumed coverage on shares of Johnson & Johnson in a research note on Friday. They set an “outperform” rating and a $190.00 target price on the stock. Morgan Stanley lifted their price objective on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Guggenheim raised their price target on Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Finally, Daiwa America cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average target price of $175.94.

Johnson & Johnson Price Performance

Shares of JNJ stock traded up $2.13 during trading hours on Friday, reaching $154.00. 11,328,515 shares of the company were exchanged, compared to its average volume of 7,017,128. The stock’s fifty day moving average is $161.35 and its two-hundred day moving average is $156.02. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. The company has a market cap of $370.77 billion, a price-to-earnings ratio of 22.29, a P/E/G ratio of 2.72 and a beta of 0.53. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $168.85.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping 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 analyst estimates of $22.17 billion. During the same period in the prior year, the business earned $2.66 EPS. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. Sell-side analysts forecast that Johnson & Johnson will post 9.93 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be issued 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 3.22%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 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.