Pinnacle Financial Partners Inc Sells 1,532 Shares of Johnson & Johnson (NYSE:JNJ)

Pinnacle Financial Partners Inc lowered its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 166,300 shares of the company's stock after selling 1,532 shares during the period. Pinnacle Financial Partners Inc's holdings in Johnson & Johnson were worth $24,252,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of JNJ. AMF Tjanstepension AB lifted its holdings in shares of Johnson & Johnson by 14.2% during the 3rd quarter. AMF Tjanstepension AB now owns 425,261 shares of the company's stock valued at $68,985,000 after purchasing an additional 52,997 shares in the last quarter. Alpha Financial Partners LLC acquired a new stake in Johnson & Johnson in the 3rd quarter valued at approximately $209,000. Wealth Group Ltd. acquired a new stake in Johnson & Johnson in the 3rd quarter valued at approximately $213,000. Swedbank AB raised its position in Johnson & Johnson by 5.3% in the 3rd quarter. Swedbank AB now owns 2,215,108 shares of the company's stock valued at $358,980,000 after buying an additional 111,570 shares during the last quarter. Finally, Hamlin Capital Management LLC raised its position in Johnson & Johnson by 15.3% in the 3rd quarter. Hamlin Capital Management LLC now owns 982,593 shares of the company's stock valued at $159,239,000 after buying an additional 130,305 shares during the last quarter. Institutional investors own 69.55% of the company's stock.

Analyst Ratings Changes

JNJ has been the topic of a number of recent research reports. Barclays lifted their target price on Johnson & Johnson from $159.00 to $166.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 28th. Royal Bank of Canada reissued an "outperform" rating and issued a $181.00 target price on shares of Johnson & Johnson in a research report on Wednesday, February 19th. Argus raised Johnson & Johnson to a "strong-buy" rating in a research report on Friday, January 24th. Wolfe Research began coverage on Johnson & Johnson in a research report on Friday, November 15th. They set an "outperform" rating and a $190.00 price target on the stock. Finally, Leerink Partners lowered their price target on Johnson & Johnson from $182.00 to $169.00 and set an "outperform" rating on the stock in a research report on Thursday, January 23rd. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $170.67.

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Johnson & Johnson Stock Performance

Shares of JNJ stock traded up $1.50 during trading on Friday, reaching $165.23. 12,037,204 shares of the company's stock were exchanged, compared to its average volume of 9,302,684. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $397.81 billion, a PE ratio of 24.85, a PEG ratio of 2.56 and a beta of 0.52. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $168.85. The firm's fifty day moving average price is $150.90 and its 200-day moving average price is $156.06.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.05. The business had revenue of $22.52 billion during the quarter, compared to the consensus estimate of $22.44 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The firm's quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.29 EPS. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be paid a $1.24 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $4.96 annualized dividend and a yield of 3.00%. Johnson & Johnson's dividend payout ratio (DPR) is presently 74.59%.

Insider Activity at Johnson & Johnson

In related news, Director Mark A. Weinberger bought 1,000 shares of the business's stock in a transaction dated Thursday, December 12th. The stock was purchased at an average cost of $147.22 per share, for a total transaction of $147,220.00. Following the transaction, the director now owns 1,000 shares in the company, valued at $147,220. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy Schmid sold 403 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total value of $62,928.45. Following the sale, the executive vice president now owns 15,098 shares of the company's stock, valued at approximately $2,357,552.70. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by corporate insiders.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.