Pinnacle Wealth Management Group Inc. Reduces Position in Johnson & Johnson (NYSE:JNJ)

Pinnacle Wealth Management Group Inc. cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,701 shares of the company’s stock after selling 250 shares during the period. Pinnacle Wealth Management Group Inc.’s holdings in Johnson & Johnson were worth $1,050,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hibernia Wealth Partners LLC bought a new stake in shares of Johnson & Johnson during the third quarter valued at about $27,000. FNY Investment Advisers LLC bought a new position in shares of Johnson & Johnson in the third quarter worth approximately $37,000. Tower View Wealth Management LLC increased its position in shares of Johnson & Johnson by 183.3% in the third quarter. Tower View Wealth Management LLC now owns 255 shares of the company’s stock worth $40,000 after purchasing an additional 165 shares during the last quarter. Creative Capital Management Investments LLC increased its position in shares of Johnson & Johnson by 43.0% in the third quarter. Creative Capital Management Investments LLC now owns 286 shares of the company’s stock worth $45,000 after purchasing an additional 86 shares during the last quarter. Finally, VitalStone Financial LLC bought a new position in shares of Johnson & Johnson in the second quarter worth approximately $48,000. 69.55% of the stock is currently owned by institutional investors.

Insider Transactions at Johnson & Johnson

In related news, major shareholder & Johnson Johnson sold 3,725 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the completion of the transaction, the insider now directly owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, major shareholder & Johnson Johnson sold 3,725 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.81, for a total value of $96,142.25. Following the transaction, the insider now directly owns 4,099,575 shares in the company, valued at $105,810,030.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jennifer L. Taubert sold 59,397 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $156.27, for a total value of $9,281,969.19. Following the completion of the transaction, the executive vice president now directly owns 141,416 shares of the company’s stock, valued at approximately $22,099,078.32. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

JNJ has been the topic of a number of recent research reports. Wells Fargo & Company cut shares of Johnson & Johnson from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $170.00 to $163.00 in a research report on Wednesday, December 13th. UBS Group raised Johnson & Johnson from a “neutral” rating to a “buy” rating and increased their price objective for the company from $167.00 to $180.00 in a research note on Friday, December 1st. Morgan Stanley dropped their price objective on Johnson & Johnson from $170.00 to $169.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Finally, Raymond James raised their price objective on Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, January 3rd. Seven investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average price target of $177.31.

Johnson & Johnson Price Performance

NYSE JNJ opened at $157.96 on Thursday. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $380.65 billion, a P/E ratio of 11.44, a PEG ratio of 2.62 and a beta of 0.53. The company has a 50-day moving average price of $158.76 and a 200-day moving average price of $156.69. Johnson & Johnson has a 52 week low of $144.95 and a 52 week high of $175.97.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, January 23rd. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.01. Johnson & Johnson had a net margin of 37.79% and a return on equity of 37.27%. The business had revenue of $21.40 billion for the quarter, compared to the consensus estimate of $21.02 billion. During the same period last year, the firm earned $2.35 earnings per share. The company’s quarterly revenue was down 9.7% on a year-over-year basis. Equities research analysts anticipate that Johnson & Johnson will post 10.65 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 5th. Shareholders of record on Tuesday, February 20th were given a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend was Friday, February 16th. Johnson & Johnson’s payout ratio is 34.47%.

Johnson & Johnson Company 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.