Coastline Trust Co Sells 3,779 Shares of Johnson & Johnson (NYSE:JNJ)

Coastline Trust Co reduced its stake in shares of Johnson & Johnson (NYSE:JNJ) by 9.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 35,280 shares of the company’s stock after selling 3,779 shares during the period. Coastline Trust Co’s holdings in Johnson & Johnson were worth $5,253,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of JNJ. Lake Point Wealth Management grew its holdings in shares of Johnson & Johnson by 144.4% in the first quarter. Lake Point Wealth Management now owns 286 shares of the company’s stock valued at $38,000 after acquiring an additional 169 shares in the last quarter. Islay Capital Management LLC bought a new position in shares of Johnson & Johnson in the second quarter valued at approximately $42,000. FAI Wealth Management grew its holdings in shares of Johnson & Johnson by 45.9% in the second quarter. FAI Wealth Management now owns 321 shares of the company’s stock valued at $45,000 after acquiring an additional 101 shares in the last quarter. SeaBridge Investment Advisors LLC grew its holdings in shares of Johnson & Johnson by 160.0% in the second quarter. SeaBridge Investment Advisors LLC now owns 325 shares of the company’s stock valued at $46,000 after acquiring an additional 200 shares in the last quarter. Finally, Crewe Advisors LLC grew its holdings in shares of Johnson & Johnson by 909.1% in the third quarter. Crewe Advisors LLC now owns 333 shares of the company’s stock valued at $50,000 after acquiring an additional 300 shares in the last quarter. 67.44% of the stock is owned by hedge funds and other institutional investors.

NYSE:JNJ opened at $148.10 on Friday. The company has a market cap of $389.92 billion, a P/E ratio of 23.29, a P/E/G ratio of 3.36 and a beta of 0.68. The stock’s fifty day moving average price is $148.57 and its two-hundred day moving average price is $146.59. Johnson & Johnson has a 1 year low of $109.16 and a 1 year high of $157.00. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.25 and a quick ratio of 0.99.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Sunday, October 18th. The company reported $2.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.98 by $0.22. Johnson & Johnson had a return on equity of 35.21% and a net margin of 22.69%. The company had revenue of $21.08 billion for the quarter, compared to the consensus estimate of $20.15 billion. During the same quarter last year, the business posted $2.12 earnings per share. The firm’s revenue was up 1.7% compared to the same quarter last year. On average, analysts expect that Johnson & Johnson will post 8 earnings per share for the current fiscal year.

In related news, EVP Ashley Mcevoy sold 29,000 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $147.47, for a total value of $4,276,630.00. Following the sale, the executive vice president now owns 21,682 shares in the company, valued at $3,197,444.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kathryn E. Wengel sold 16,115 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $153.52, for a total value of $2,473,974.80. Following the completion of the sale, the executive vice president now owns 66,658 shares in the company, valued at approximately $10,233,336.16. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.

Several equities analysts have recently issued reports on JNJ shares. Bank of America reaffirmed a “buy” rating on shares of Johnson & Johnson in a report on Monday, July 20th. Independent Research raised Johnson & Johnson from a “hold” rating to a “buy” rating and upped their target price for the company from $161.00 to $164.00 in a report on Monday, July 20th. Cantor Fitzgerald upped their price objective on Johnson & Johnson from $168.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday. Credit Suisse Group upped their price objective on Johnson & Johnson from $163.00 to $168.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Citigroup upped their price objective on Johnson & Johnson from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, July 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $164.93.

About Johnson & Johnson

Johnson & Johnson researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DR.

Further Reading: Float

Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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