Pinnacle Associates Ltd. Buys 29,597 Shares of Johnson & Johnson (NYSE:JNJ)

Pinnacle Associates Ltd. grew its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 2.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,307,304 shares of the company’s stock after purchasing an additional 29,597 shares during the quarter. Johnson & Johnson makes up about 3.2% of Pinnacle Associates Ltd.’s portfolio, making the stock its 3rd biggest holding. Pinnacle Associates Ltd. owned approximately 0.05% of Johnson & Johnson worth $204,907,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in JNJ. Innealta Capital LLC acquired a new stake in Johnson & Johnson during the 2nd quarter worth $27,000. Highline Wealth Partners LLC acquired a new position in shares of Johnson & Johnson during the 3rd quarter valued at about $31,000. Mowery & Schoenfeld Wealth Management LLC boosted its position in shares of Johnson & Johnson by 58.7% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after acquiring an additional 91 shares during the last quarter. Morton Brown Family Wealth LLC boosted its position in shares of Johnson & Johnson by 400.0% during the 3rd quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock valued at $41,000 after acquiring an additional 200 shares during the last quarter. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Johnson & Johnson during the 2nd quarter valued at about $43,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Down 0.5 %

Shares of NYSE:JNJ opened at $159.86 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. 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 firm’s 50-day moving average is $163.39 and its two-hundred day moving average is $155.35. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.46% and a net margin of 19.14%. The business had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. During the same period in the previous year, the company posted $2.66 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. Analysts predict that Johnson & Johnson will post 9.94 EPS for the current year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio is presently 71.78%.

Wall Street Analyst Weigh In

JNJ has been the topic of several recent research reports. Sanford C. Bernstein boosted their price target on shares of Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. The Goldman Sachs Group reduced their price objective on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Royal Bank of Canada boosted 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. Citigroup boosted their price objective on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Johnson & Johnson presently has an average rating of “Moderate Buy” and an average price target of $175.93.

Insider Transactions at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the business’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 completion of the transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Company 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.