Citizens Financial Group Inc. RI Sells 6,040 Shares of Johnson & Johnson (NYSE:JNJ)

Citizens Financial Group Inc. RI cut its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 3.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 174,461 shares of the company's stock after selling 6,040 shares during the period. Citizens Financial Group Inc. RI's holdings in Johnson & Johnson were worth $28,273,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its stake in shares of Johnson & Johnson by 3.9% in the third quarter. EverSource Wealth Advisors LLC now owns 19,121 shares of the company's stock worth $3,099,000 after purchasing an additional 725 shares during the last quarter. Altman Advisors Inc. bought a new position in Johnson & Johnson during the 3rd quarter valued at approximately $1,574,000. Darwin Wealth Management LLC bought a new position in Johnson & Johnson in the 3rd quarter worth about $492,000. Cedar Wealth Management LLC increased its position in shares of Johnson & Johnson by 31.3% during the third quarter. Cedar Wealth Management LLC now owns 2,527 shares of the company's stock valued at $410,000 after acquiring an additional 602 shares in the last quarter. Finally, Grandfield & Dodd LLC lifted its holdings in shares of Johnson & Johnson by 0.9% during the third quarter. Grandfield & Dodd LLC now owns 109,698 shares of the company's stock valued at $17,778,000 after purchasing an additional 993 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other 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 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 of the company's stock, valued at $3,131,683.38. The trade was a 22.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.16% of the company's stock.

Johnson & Johnson Stock Up 1.1 %

Shares of NYSE:JNJ traded up $1.65 during trading on Thursday, hitting $154.76. The company's stock had a trading volume of 2,383,236 shares, compared to its average volume of 7,013,378. The company has a market capitalization of $372.60 billion, a PE ratio of 22.25, a PEG ratio of 2.72 and a beta of 0.53. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $168.85. The stock's 50-day moving average price is $160.59 and its two-hundred day moving average price is $156.17.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced 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 company had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The company'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 company posted $2.66 earnings per share. As a group, sell-side analysts expect that Johnson & Johnson will post 9.93 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be issued a dividend of $1.24 per share. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.20%. Johnson & Johnson's dividend payout ratio is currently 71.78%.

Analyst Ratings Changes

Several research firms have weighed in on JNJ. Guggenheim increased their price target on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 6th. Royal Bank of Canada boosted their price target on shares of Johnson & Johnson from $178.00 to $181.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. Morgan Stanley raised their target price on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an "equal weight" rating in a report on Wednesday, October 16th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company increased their price objective 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. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target 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.