Patton Albertson Miller Group LLC Sells 90 Shares of Johnson & Johnson (NYSE:JNJ)

Patton Albertson Miller Group LLC cut its holdings in Johnson & Johnson (NYSE:JNJ) by 0.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 28,721 shares of the company’s stock after selling 90 shares during the period. Patton Albertson Miller Group LLC’s holdings in Johnson & Johnson were worth $4,655,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in JNJ. International Assets Investment Management LLC lifted its position in Johnson & Johnson by 20,130.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,454,473 shares of the company’s stock valued at $559,832,000 after acquiring an additional 3,437,397 shares in the last quarter. Marshall Wace LLP raised its stake in Johnson & Johnson by 506.9% during the 2nd quarter. Marshall Wace LLP now owns 3,884,962 shares of the company’s stock valued at $567,826,000 after buying an additional 3,244,862 shares during the last quarter. Ninety One UK Ltd raised its stake in Johnson & Johnson by 59.0% during the 2nd quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock valued at $980,579,000 after buying an additional 2,489,925 shares during the last quarter. Swedbank AB purchased a new stake in Johnson & Johnson during the 1st quarter valued at $331,178,000. Finally, Massachusetts Financial Services Co. MA raised its stake in Johnson & Johnson by 10.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock valued at $2,744,979,000 after buying an additional 1,831,751 shares during the last quarter. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Stock Up 0.4 %

JNJ opened at $155.75 on Tuesday. The firm has a 50-day simple moving average of $159.98 and a two-hundred day simple moving average of $156.36. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85. The company has a market capitalization of $374.99 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 2.76 and a beta of 0.53. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The business had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. During the same quarter in the prior year, the firm earned $2.66 EPS. The business’s revenue was up 5.2% on a year-over-year basis. 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 disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 71.78%.

Insider Buying and Selling at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction dated 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 approximately $3,131,683.38. This trade represents a 22.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on JNJ. Guggenheim boosted their target price on shares of Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Morgan Stanley upped their price objective on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Wells Fargo & Company upped their price objective on Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Citigroup upped their price objective on Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average target price of $175.94.

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.