PNC Financial Services Group Inc. Sells 93,807 Shares of Johnson & Johnson (NYSE:JNJ)

PNC Financial Services Group Inc. decreased its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 1.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,213,679 shares of the company's stock after selling 93,807 shares during the period. Johnson & Johnson makes up 0.6% of PNC Financial Services Group Inc.'s portfolio, making the stock its 23rd largest position. PNC Financial Services Group Inc. owned approximately 0.26% of Johnson & Johnson worth $1,006,989,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. International Assets Investment Management LLC grew its position in shares of Johnson & Johnson by 20,130.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,454,473 shares of the company's stock valued at $559,832,000 after purchasing an additional 3,437,397 shares during the period. Marshall Wace LLP increased its position in shares of Johnson & Johnson by 506.9% during the second quarter. Marshall Wace LLP now owns 3,884,962 shares of the company's stock worth $567,826,000 after acquiring an additional 3,244,862 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Johnson & Johnson by 16.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company's stock worth $3,453,978,000 after acquiring an additional 3,139,499 shares during the period. Ninety One UK Ltd boosted its stake in Johnson & Johnson by 59.0% in the 2nd quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company's stock worth $980,579,000 after purchasing an additional 2,489,925 shares during the period. Finally, Swedbank AB acquired a new stake in shares of Johnson & Johnson in the 1st quarter valued at about $331,178,000. Institutional investors own 69.55% of the company's stock.

Insider Activity at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the firm's 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 sale, the vice president now owns 18,973 shares of the company's stock, valued at $3,131,683.38. This trade represents a 22.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.16% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on JNJ shares. Wells Fargo & Company increased their price objective on Johnson & Johnson from $163.00 to $166.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 16th. Daiwa Capital Markets downgraded shares of Johnson & Johnson from an "outperform" rating to a "neutral" rating and lowered their price objective for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $215.00 target price on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Royal Bank of Canada raised their price objective on Johnson & Johnson from $178.00 to $181.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Finally, Citigroup upped their target price on Johnson & Johnson from $180.00 to $185.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $175.94.

Johnson & Johnson Stock Performance

Shares of JNJ stock traded down $1.80 during midday trading on Tuesday, hitting $152.97. 8,231,159 shares of the company were exchanged, compared to its average volume of 7,024,149. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85. The firm has a market capitalization of $368.29 billion, a P/E ratio of 22.11, a PEG ratio of 2.74 and a beta of 0.53. The firm's 50 day moving average price is $161.11 and its two-hundred day moving average price is $156.16. 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 (NYSE:JNJ - Get Free Report) last posted its 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. The company had revenue of $22.47 billion for the quarter, compared to the consensus estimate of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The firm's revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.66 earnings per share. As a group, equities research analysts anticipate that Johnson & Johnson will post 9.93 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be paid a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 annualized dividend and a dividend yield of 3.24%. Johnson & Johnson's dividend payout ratio (DPR) is presently 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.