Peapack Gladstone Financial Corp Reduces Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Peapack Gladstone Financial Corp decreased its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 1.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 443,934 shares of the company's stock after selling 4,719 shares during the period. Johnson & Johnson makes up about 1.0% of Peapack Gladstone Financial Corp's portfolio, making the stock its 19th biggest position. Peapack Gladstone Financial Corp's holdings in Johnson & Johnson were worth $71,944,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. ERn Financial LLC boosted its holdings in shares of Johnson & Johnson by 2.9% during the 2nd quarter. ERn Financial LLC now owns 7,221 shares of the company's stock valued at $1,055,000 after acquiring an additional 202 shares in the last quarter. Mcdonald Partners LLC boosted its holdings in shares of Johnson & Johnson by 2.3% during the 2nd quarter. Mcdonald Partners LLC now owns 26,481 shares of the company's stock valued at $3,871,000 after acquiring an additional 585 shares in the last quarter. Comprehensive Financial Consultants Institutional Inc. boosted its holdings in shares of Johnson & Johnson by 16.1% during the 2nd quarter. Comprehensive Financial Consultants Institutional Inc. now owns 26,377 shares of the company's stock valued at $3,855,000 after acquiring an additional 3,666 shares in the last quarter. Home Federal Bank of Tennessee boosted its holdings in shares of Johnson & Johnson by 0.7% during the 2nd quarter. Home Federal Bank of Tennessee now owns 17,608 shares of the company's stock valued at $2,574,000 after acquiring an additional 119 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC boosted its holdings in shares of Johnson & Johnson by 16.6% during the 2nd quarter. Hunter Perkins Capital Management LLC now owns 101,655 shares of the company's stock valued at $14,858,000 after acquiring an additional 14,456 shares in the last quarter. Institutional investors own 69.55% of the company's stock.

Insiders Place Their Bets

In other Johnson & Johnson news, Director Mark A. Weinberger bought 1,000 shares of the business's stock in a transaction dated Thursday, December 12th. The shares were purchased at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the purchase, the director now directly owns 1,000 shares of the company's stock, valued at approximately $147,220. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company's stock.

Wall Street Analysts Forecast Growth

JNJ has been the topic of several recent research reports. Citigroup cut their target price on Johnson & Johnson from $185.00 to $175.00 and set a "buy" rating on the stock in a report on Wednesday. Wells Fargo & Company lifted their target price on Johnson & Johnson from $163.00 to $166.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 16th. StockNews.com raised Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 14th. Wolfe Research initiated coverage on Johnson & Johnson in a report on Friday, November 15th. They set an "outperform" rating and a $190.00 target price on the stock. Finally, Guggenheim lifted their target price on Johnson & Johnson from $156.00 to $162.00 and gave the stock a "neutral" rating in a report on Wednesday, November 6th. Seven investment 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 stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $174.73.

Johnson & Johnson Stock Up 0.3 %

Johnson & Johnson stock traded up $0.38 during midday trading on Friday, reaching $146.62. The stock had a trading volume of 8,293,924 shares, compared to its average volume of 7,123,573. 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 fifty day moving average price of $157.01 and a two-hundred day moving average price of $156.28. The company has a market capitalization of $353.01 billion, a P/E ratio of 21.16, a PEG ratio of 2.52 and a beta of 0.51. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued 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. The firm had revenue of $22.47 billion during the quarter, compared to analyst estimates of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The company's revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.66 EPS. As a group, equities analysts expect that Johnson & Johnson will post 9.94 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th were issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend was Tuesday, November 26th. Johnson & Johnson's dividend 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.