Thrivent Financial for Lutherans Has $252.12 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

Thrivent Financial for Lutherans trimmed its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 4.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,555,712 shares of the company's stock after selling 79,151 shares during the quarter. Johnson & Johnson makes up approximately 0.5% of Thrivent Financial for Lutherans' portfolio, making the stock its 25th largest position. Thrivent Financial for Lutherans owned approximately 0.06% of Johnson & Johnson worth $252,118,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in JNJ. Innealta Capital LLC bought a new position in Johnson & Johnson during the second quarter valued at approximately $27,000. Highline Wealth Partners LLC bought a new position in Johnson & Johnson during the third quarter valued at approximately $31,000. Mowery & Schoenfeld Wealth Management LLC raised its position in Johnson & Johnson by 58.7% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company's stock valued at $40,000 after acquiring an additional 91 shares in the last quarter. Morton Brown Family Wealth LLC raised its position in Johnson & Johnson by 400.0% during the third quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company's stock valued at $41,000 after acquiring an additional 200 shares in the last quarter. Finally, MFA Wealth Advisors LLC bought a new position in Johnson & Johnson during the second quarter valued at approximately $43,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

JNJ has been the topic of several recent research reports. Daiwa America lowered shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 23rd. StockNews.com upgraded Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 14th. Cantor Fitzgerald reiterated an "overweight" rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Wednesday, October 16th. Morgan Stanley increased their price target on Johnson & Johnson from $169.00 to $175.00 and gave the company an "equal weight" rating in a report on Wednesday, October 16th. Finally, Guggenheim increased their price target on Johnson & Johnson from $156.00 to $162.00 and gave the company a "neutral" rating in a report on Wednesday, November 6th. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $175.94.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson 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 completion of the transaction, the vice president now directly owns 18,973 shares of the company's stock, valued at approximately $3,131,683.38. This trade represents a 22.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.16% of the company's stock.

Johnson & Johnson Stock Performance

JNJ traded up $2.13 during trading on Friday, reaching $154.00. 11,328,515 shares of the company's stock were exchanged, compared to its average volume of 6,621,219. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $168.85. 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 business has a 50 day moving average price of $161.35 and a 200 day moving average price of $156.13. The company has a market capitalization of $370.77 billion, a P/E ratio of 22.29, a PEG ratio of 2.74 and a beta of 0.53.

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

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $1.24 per share. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a yield of 3.22%. Johnson & Johnson's dividend payout ratio is currently 71.78%.

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.