Johnson & Johnson $JNJ Shares Sold by ELCO Management Co. LLC

ELCO Management Co. LLC cut its position in shares of Johnson & Johnson (NYSE:JNJ) by 2.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,953 shares of the company’s stock after selling 105 shares during the quarter. ELCO Management Co. LLC’s holdings in Johnson & Johnson were worth $604,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of JNJ. Brighton Jones LLC raised its holdings in shares of Johnson & Johnson by 13.9% in the fourth quarter. Brighton Jones LLC now owns 51,876 shares of the company’s stock worth $7,502,000 after acquiring an additional 6,332 shares during the last quarter. Wealth Group Ltd. acquired a new position in shares of Johnson & Johnson in the first quarter worth $218,000. Cornerstone Advisors Asset Management LLC raised its holdings in shares of Johnson & Johnson by 11.8% in the first quarter. Cornerstone Advisors Asset Management LLC now owns 3,327 shares of the company’s stock worth $552,000 after acquiring an additional 352 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Johnson & Johnson by 0.9% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,044,313 shares of the company’s stock worth $1,002,389,000 after acquiring an additional 52,961 shares during the last quarter. Finally, Little House Capital LLC raised its holdings in shares of Johnson & Johnson by 53.5% in the first quarter. Little House Capital LLC now owns 28,711 shares of the company’s stock worth $4,761,000 after acquiring an additional 10,007 shares during the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JNJ has been the subject of a number of analyst reports. Johnson Rice set a $190.00 price target on Johnson & Johnson and gave the stock a “hold” rating in a report on Wednesday, October 22nd. Weiss Ratings raised Johnson & Johnson from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Erste Group Bank raised Johnson & Johnson from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. UBS Group lifted their price objective on Johnson & Johnson from $190.00 to $214.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. Finally, The Goldman Sachs Group lifted their price objective on Johnson & Johnson from $186.00 to $212.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus price target of $199.05.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $186.94 on Wednesday. The company has a market cap of $450.40 billion, a P/E ratio of 18.04, a P/E/G ratio of 2.24 and a beta of 0.40. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $194.48. The business has a fifty day simple moving average of $182.72 and a 200-day simple moving average of $166.92.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. The firm had revenue of $24.02 billion during the quarter. Johnson & Johnson had a return on equity of 32.73% and a net margin of 27.26%. Equities research analysts forecast that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be paid a dividend of $1.30 per share. The ex-dividend date is Tuesday, November 25th. This represents a $5.20 annualized dividend and a yield of 2.8%. Johnson & Johnson’s dividend payout ratio is currently 50.19%.

Insider Buying and Selling

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the company’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the completion of the sale, the executive vice president directly owned 178,013 shares in the company, valued at $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Johnson & Johnson Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.