Spinnaker Trust Sells 233 Shares of Johnson & Johnson $JNJ

Spinnaker Trust decreased its stake in shares of Johnson & Johnson (NYSE:JNJ) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,326 shares of the company’s stock after selling 233 shares during the period. Spinnaker Trust’s holdings in Johnson & Johnson were worth $5,702,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of JNJ. Nuveen LLC bought a new stake in shares of Johnson & Johnson during the 1st quarter valued at about $1,369,188,000. Bank of New York Mellon Corp lifted its position in Johnson & Johnson by 26.4% during the 1st quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company’s stock valued at $3,844,580,000 after acquiring an additional 4,842,582 shares during the period. Pacer Advisors Inc. lifted its position in Johnson & Johnson by 1,382.0% during the 1st quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company’s stock valued at $502,509,000 after acquiring an additional 2,825,626 shares during the period. Assenagon Asset Management S.A. lifted its position in Johnson & Johnson by 159.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,159,260 shares of the company’s stock valued at $635,327,000 after acquiring an additional 2,557,388 shares during the period. Finally, Kingstone Capital Partners Texas LLC purchased a new position in Johnson & Johnson during the 2nd quarter valued at about $401,420,000. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Down 0.3%

Shares of Johnson & Johnson stock opened at $186.39 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a market capitalization of $449.07 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 2.20 and a beta of 0.40. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $194.48. The company has a 50-day simple moving average of $182.88 and a two-hundred day simple moving average of $167.17.

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

Johnson & Johnson Dividend Announcement

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

Insider Buying and Selling at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the completion of the transaction, the executive vice president directly owned 178,013 shares of the company’s stock, valued at $31,652,491.53. The trade was a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by insiders.

Analysts Set New Price Targets

JNJ has been the subject of a number of recent research reports. Sanford C. Bernstein lifted their price target on shares of Johnson & Johnson from $172.00 to $193.00 and gave the company a “market perform” rating in a research report on Monday, October 6th. Daiwa Capital Markets raised shares of Johnson & Johnson from a “neutral” rating to an “outperform” rating and set a $203.00 price target for the company in a research report on Monday, October 20th. Guggenheim raised shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and lifted their price target for the company from $167.00 to $206.00 in a research report on Tuesday, September 23rd. Johnson Rice set a $190.00 price target on shares of Johnson & Johnson and gave the company a “hold” rating in a research report on Wednesday, October 22nd. Finally, Morgan Stanley set a $190.00 price target on shares of Johnson & Johnson in a research report on Wednesday, October 15th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $199.05.

Johnson & Johnson Company 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.