SouthState Corp Sells 7,070 Shares of Johnson & Johnson (NYSE:JNJ)

SouthState Corp trimmed its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 9.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 69,122 shares of the company's stock after selling 7,070 shares during the period. SouthState Corp's holdings in Johnson & Johnson were worth $11,202,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in JNJ. Meridian Financial Partners LLC acquired a new position in Johnson & Johnson in the 2nd quarter worth $1,626,000. Meridian Investment Counsel Inc. raised its stake in shares of Johnson & Johnson by 19.6% in the 3rd quarter. Meridian Investment Counsel Inc. now owns 22,629 shares of the company's stock valued at $3,667,000 after purchasing an additional 3,710 shares in the last quarter. Sheaff Brock Investment Advisors LLC raised its stake in shares of Johnson & Johnson by 137.2% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 43,568 shares of the company's stock valued at $7,061,000 after purchasing an additional 25,203 shares in the last quarter. Lmcg Investments LLC raised its stake in shares of Johnson & Johnson by 32.7% in the 3rd quarter. Lmcg Investments LLC now owns 87,162 shares of the company's stock valued at $14,125,000 after purchasing an additional 21,471 shares in the last quarter. Finally, WealthPlan Investment Management LLC raised its stake in shares of Johnson & Johnson by 7.3% in the 3rd quarter. WealthPlan Investment Management LLC now owns 61,691 shares of the company's stock valued at $9,998,000 after purchasing an additional 4,174 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on JNJ shares. Guggenheim boosted their price objective on shares of Johnson & Johnson from $156.00 to $162.00 and gave the company a "neutral" rating in a research report on Wednesday, November 6th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Wells Fargo & Company boosted their price objective on shares of Johnson & Johnson from $163.00 to $166.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 16th. Wolfe Research began coverage on shares of Johnson & Johnson in a research report on Friday. They issued an "outperform" rating and a $190.00 target price for the company. Finally, Daiwa America cut shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Johnson & Johnson presently has a consensus rating of "Moderate Buy" and a consensus price target of $175.94.

Johnson & Johnson Price Performance

JNJ traded down $1.77 during midday trading on Tuesday, hitting $153.00. The company had a trading volume of 7,899,897 shares, compared to its average volume of 7,010,814. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. The company has a market capitalization of $368.37 billion, a PE ratio of 22.11, a P/E/G ratio of 2.74 and a beta of 0.53. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $168.85. The firm's 50-day simple moving average is $161.11 and its 200-day simple moving average is $156.16.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.21 by $0.21. The company had revenue of $22.47 billion during the quarter, compared to analysts' expectations of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. Johnson & Johnson's revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.66 EPS. Equities research analysts predict that Johnson & Johnson will post 9.93 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be paid a $1.24 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 annualized dividend and a yield of 3.24%. Johnson & Johnson's dividend payout ratio is 71.78%.

Insiders Place Their Bets

In related news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.16% of the company's stock.

About Johnson & Johnson

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.