1ST Source Bank Sells 7,487 Shares of Johnson & Johnson (NYSE:JNJ)

1ST Source Bank cut its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 9.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,015 shares of the company's stock after selling 7,487 shares during the period. Johnson & Johnson accounts for 0.7% of 1ST Source Bank's holdings, making the stock its 22nd largest position. 1ST Source Bank's holdings in Johnson & Johnson were worth $11,671,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vinva Investment Management Ltd lifted its holdings in shares of Johnson & Johnson by 6.8% in the third quarter. Vinva Investment Management Ltd now owns 111,448 shares of the company's stock worth $17,988,000 after acquiring an additional 7,110 shares during the last quarter. Financial Counselors Inc. boosted its position in Johnson & Johnson by 5.3% in the third quarter. Financial Counselors Inc. now owns 185,093 shares of the company's stock valued at $29,996,000 after buying an additional 9,309 shares in the last quarter. Meridian Financial Partners LLC acquired a new position in shares of Johnson & Johnson during the second quarter worth $1,626,000. Meridian Investment Counsel Inc. lifted its stake in shares of Johnson & Johnson by 19.6% in the 3rd quarter. Meridian Investment Counsel Inc. now owns 22,629 shares of the company's stock valued at $3,667,000 after acquiring an additional 3,710 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Johnson & Johnson by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company's stock worth $2,858,543,000 after acquiring an additional 102,502 shares during the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Johnson & Johnson

In related news, Director Mark A. Weinberger purchased 1,000 shares of Johnson & Johnson stock in a transaction that occurred on Thursday, December 12th. The stock was bought at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the completion of the transaction, the director now owns 1,000 shares in the company, valued at $147,220. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.16% of the stock is currently owned by insiders.

Johnson & Johnson Trading Up 0.2 %

Shares of Johnson & Johnson stock traded up $0.36 on Friday, hitting $146.60. 8,323,370 shares of the company's stock traded hands, compared to its average volume of 7,123,697. The company has a market capitalization of $352.96 billion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 2.52 and a beta of 0.51. The company has a fifty day moving average of $157.01 and a two-hundred day moving average of $156.28. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.21. The company had revenue of $22.47 billion during the quarter, compared to analyst estimates of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. Johnson & Johnson's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.66 EPS. As a group, sell-side analysts expect that Johnson & Johnson will post 9.94 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th were issued a $1.24 dividend. The ex-dividend date was Tuesday, November 26th. This represents a $4.96 annualized dividend and a yield of 3.38%. Johnson & Johnson's payout ratio is currently 71.78%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Citigroup cut their price target on Johnson & Johnson from $185.00 to $175.00 and set a "buy" rating on the stock in a research note on Wednesday. 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 report on Wednesday, October 16th. Cantor Fitzgerald restated an "overweight" rating and issued a $215.00 price target on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Guggenheim lifted their price target on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a "neutral" rating in a report on Wednesday, November 6th. Finally, Morgan Stanley increased their price objective on Johnson & Johnson from $169.00 to $175.00 and gave the company an "equal weight" rating in a report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $174.73.

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.