Principal Street Partners LLC Lowers Position in Johnson & Johnson (NYSE:JNJ)

Principal Street Partners LLC trimmed its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 21.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,488 shares of the company's stock after selling 9,051 shares during the period. Principal Street Partners LLC's holdings in Johnson & Johnson were worth $5,406,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Summit Wealth Partners LLC increased its holdings in Johnson & Johnson by 0.6% in the 2nd quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company's stock valued at $1,463,000 after purchasing an additional 61 shares during the last quarter. Powers Advisory Group LLC lifted its holdings in Johnson & Johnson by 0.6% during the 3rd quarter. Powers Advisory Group LLC now owns 9,489 shares of the company's stock worth $1,538,000 after buying an additional 61 shares in the last quarter. Citizens & Northern Corp grew its stake in shares of Johnson & Johnson by 3.5% in the second quarter. Citizens & Northern Corp now owns 1,884 shares of the company's stock worth $275,000 after acquiring an additional 63 shares in the last quarter. Eagle Wealth Strategies LLC increased its holdings in Johnson & Johnson by 2.8% during the 3rd quarter. Eagle Wealth Strategies LLC now owns 2,294 shares of the company's stock worth $372,000 after purchasing an additional 63 shares during the period. Finally, Epic Trust Investment Advisors LLC raised its holdings in Johnson & Johnson by 3.6% in the second quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company's stock valued at $268,000 after acquiring an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on JNJ shares. Morgan Stanley lifted their price objective on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 16th. Wolfe Research assumed coverage on Johnson & Johnson in a research report on Friday, November 15th. They set an "outperform" rating and a $190.00 target price on the stock. Royal Bank of Canada upped their price target on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Finally, StockNews.com upgraded shares of Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 14th. Seven research 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 company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $175.94.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the transaction, the vice president now owns 18,973 shares of the company's stock, valued at $3,131,683.38. This represents a 22.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.16% of the stock is currently owned by corporate insiders.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ traded down $1.27 during midday trading on Tuesday, hitting $154.51. 5,680,722 shares of the stock were exchanged, compared to its average volume of 7,069,779. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The company has a 50 day moving average price of $159.98 and a 200-day moving average price of $156.36. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $168.85. The stock has a market cap of $372.00 billion, a P/E ratio of 22.21, a PEG ratio of 2.76 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $22.17 billion. During the same period in the prior year, the business earned $2.66 earnings per share. The company's quarterly revenue was up 5.2% on a year-over-year basis. On average, research analysts forecast that Johnson & Johnson will post 9.93 earnings per share for the current year.

Johnson & Johnson Announces Dividend

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 paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson's payout ratio is currently 71.78%.

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.