Northwest Bancshares Inc. Has $1.88 Million Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Northwest Bancshares Inc. cut its position in shares of Johnson & Johnson (NYSE:JNJ) by 3.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,598 shares of the company’s stock after selling 429 shares during the quarter. Northwest Bancshares Inc.’s holdings in Johnson & Johnson were worth $1,880,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in JNJ. China Universal Asset Management Co. Ltd. acquired a new stake in Johnson & Johnson during the first quarter worth about $765,000. Empowered Funds LLC boosted its holdings in Johnson & Johnson by 46.7% during the first quarter. Empowered Funds LLC now owns 101,237 shares of the company’s stock valued at $16,015,000 after purchasing an additional 32,244 shares in the last quarter. Payden & Rygel Investment Group acquired a new stake in Johnson & Johnson during the first quarter valued at approximately $14,379,000. Mattern Capital Management LLC boosted its holdings in Johnson & Johnson by 6.9% during the first quarter. Mattern Capital Management LLC now owns 48,191 shares of the company’s stock valued at $7,623,000 after purchasing an additional 3,091 shares in the last quarter. Finally, Shell Asset Management Co. boosted its holdings in Johnson & Johnson by 9.7% during the first quarter. Shell Asset Management Co. now owns 17,728 shares of the company’s stock valued at $2,804,000 after purchasing an additional 1,562 shares in the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Stock Down 1.2 %

NYSE:JNJ opened at $152.97 on Wednesday. The stock’s fifty day moving average price is $160.83 and its two-hundred day moving average price is $156.19. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85. 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 cap of $368.29 billion, a price-to-earnings ratio of 22.14, a P/E/G ratio of 2.74 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. 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 prior year, the business earned $2.66 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, analysts anticipate that Johnson & Johnson will post 9.93 EPS for the current year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 71.78%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on JNJ shares. Royal Bank of Canada lifted 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. Wells Fargo & Company lifted their price objective on Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Daiwa Capital Markets downgraded Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Finally, Citigroup boosted 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 research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $175.94.

Insider Activity

In other news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the transaction, the vice president now owns 18,973 shares of the company’s stock, valued at $3,131,683.38. This represents a 22.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.16% of the stock is currently owned by company insiders.

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.