Cove Private Wealth LLC Sells 384 Shares of Johnson & Johnson (NYSE:JNJ)

Cove Private Wealth LLC cut its position in shares of Johnson & Johnson (NYSE:JNJ) by 4.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,486 shares of the company’s stock after selling 384 shares during the period. Johnson & Johnson comprises about 1.1% of Cove Private Wealth LLC’s investment portfolio, making the stock its 25th largest position. Cove Private Wealth LLC’s holdings in Johnson & Johnson were worth $1,375,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in shares of Johnson & Johnson by 16.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock valued at $3,453,978,000 after purchasing an additional 3,139,499 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Johnson & Johnson by 10.8% in 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 in the last quarter. Ameriprise Financial Inc. boosted its stake in Johnson & Johnson by 5.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 14,374,397 shares of the company’s stock valued at $2,100,427,000 after buying an additional 754,200 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Johnson & Johnson by 16.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,147,352 shares of the company’s stock valued at $1,921,565,000 after buying an additional 1,829,257 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Johnson & Johnson by 5.8% in the 2nd quarter. American Century Companies Inc. now owns 8,014,213 shares of the company’s stock valued at $1,171,357,000 after buying an additional 437,637 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.

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.

Wall Street Analyst Weigh In

Several analysts recently commented on JNJ shares. TD Cowen decreased their price target on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Daiwa Capital Markets lowered Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Sanford C. Bernstein boosted their price objective on Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Finally, The Goldman Sachs Group reduced their price objective on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $175.93.

Johnson & Johnson Trading Down 0.5 %

Shares of JNJ opened at $159.86 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85. The firm has a market capitalization of $384.88 billion, a PE ratio of 23.13, a price-to-earnings-growth ratio of 2.90 and a beta of 0.52. The stock’s fifty day simple moving average is $163.39 and its 200-day simple moving average is $155.35.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.21. The business had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. Johnson & Johnson had a return on equity of 35.46% and a net margin of 19.14%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.66 earnings per share. As a group, research analysts predict that Johnson & Johnson will post 9.94 earnings per share 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. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a yield of 3.10%. Johnson & Johnson’s dividend payout ratio is presently 71.78%.

About Johnson & Johnson

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.