Stock Yards Bank & Trust Co. Sells 15,726 Shares of Johnson & Johnson (NYSE:JNJ)

Stock Yards Bank & Trust Co. lowered its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 5.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 259,679 shares of the company's stock after selling 15,726 shares during the period. Johnson & Johnson comprises about 1.4% of Stock Yards Bank & Trust Co.'s investment portfolio, making the stock its 19th biggest holding. Stock Yards Bank & Trust Co.'s holdings in Johnson & Johnson were worth $42,084,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vinva Investment Management Ltd lifted its holdings in Johnson & Johnson by 6.8% in the 3rd quarter. Vinva Investment Management Ltd now owns 111,448 shares of the company's stock worth $17,988,000 after purchasing an additional 7,110 shares during the last quarter. Financial Counselors Inc. boosted its holdings in Johnson & Johnson by 5.3% during the third quarter. Financial Counselors Inc. now owns 185,093 shares of the company's stock valued at $29,996,000 after acquiring an additional 9,309 shares during the period. Meridian Financial Partners LLC acquired a new stake in shares of Johnson & Johnson in the second quarter valued at about $1,626,000. Meridian Investment Counsel Inc. increased its stake in shares of Johnson & Johnson by 19.6% in the third quarter. Meridian Investment Counsel Inc. now owns 22,629 shares of the company's stock worth $3,667,000 after purchasing an additional 3,710 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Johnson & Johnson by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company's stock worth $2,858,543,000 after acquiring an additional 102,502 shares during the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

NYSE:JNJ traded down $0.40 during mid-day trading on Thursday, reaching $146.24. 6,166,939 shares of the company were exchanged, compared to its average volume of 7,118,662. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. The stock has a market cap of $352.09 billion, a PE ratio of 21.28, a PEG ratio of 2.66 and a beta of 0.51. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85. The company has a fifty day moving average of $157.29 and a 200 day moving average of $156.35.

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 analysts' expectations of $22.17 billion. During the same period in the prior year, the firm earned $2.66 earnings per share. Johnson & Johnson's revenue was up 5.2% compared to the same quarter last year. On average, research analysts anticipate that Johnson & Johnson will post 9.93 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company 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. The ex-dividend date was Tuesday, November 26th. This represents a $4.96 annualized dividend and a yield of 3.39%. Johnson & Johnson's dividend payout ratio is currently 71.78%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 16th. Morgan Stanley lifted their price objective on Johnson & Johnson from $169.00 to $175.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 16th. StockNews.com upgraded Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 14th. Cantor Fitzgerald restated an "overweight" rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Finally, Guggenheim lifted their target price 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. Seven 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 MarketBeat.com, Johnson & Johnson presently has a consensus rating of "Moderate Buy" and a consensus target price of $174.73.

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.