Pinnacle Wealth Management Group Inc. Has $707,000 Holdings in Johnson & Johnson (NYSE:JNJ)

by · The Cerbat Gem

Pinnacle Wealth Management Group Inc. lowered its stake in Johnson & Johnson (NYSE:JNJ – Free Report) by 3.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,361 shares of the company’s stock after selling 150 shares during the quarter. Pinnacle Wealth Management Group Inc.’s holdings in Johnson & Johnson were worth $707,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in shares of Johnson & Johnson by 16.4% during the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after purchasing an additional 3,391,657 shares in the last quarter. Marshall Wace LLP grew its holdings in Johnson & Johnson by 506.9% during the 2nd quarter. Marshall Wace LLP now owns 3,884,962 shares of the company’s stock worth $567,826,000 after acquiring an additional 3,244,862 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Johnson & Johnson by 16.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock valued at $3,453,978,000 after acquiring an additional 3,139,499 shares during the last quarter. Ninety One UK Ltd lifted its holdings in shares of Johnson & Johnson by 59.0% during the second quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock worth $980,579,000 after purchasing an additional 2,489,925 shares during the period. Finally, Swedbank AB acquired a new stake in Johnson & Johnson in the first quarter valued at $331,178,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

JNJ has been the topic of a number of recent analyst reports. Sanford C. Bernstein boosted their price target on shares of Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Daiwa Capital Markets lowered Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $160.00 to $150.00 in a report on Tuesday, July 23rd. Royal Bank of Canada boosted their price objective on Johnson & Johnson from $175.00 to $178.00 and gave the company an “outperform” rating in a report on Tuesday. Daiwa America downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, The Goldman Sachs Group dropped their price target on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $173.43.

View Our Latest Research Report on JNJ

Johnson & Johnson Price Performance

Shares of JNJ traded up $0.95 during midday trading on Friday, hitting $161.46. 5,253,459 shares of the company traded hands, compared to its average volume of 7,039,524. The stock has a 50-day moving average of $162.59 and a 200-day moving average of $154.49. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85. The firm has a market cap of $388.58 billion, a P/E ratio of 10.07, a PEG ratio of 2.65 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last posted its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The business had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.33 billion. During the same period in the prior year, the company posted $2.80 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, sell-side analysts predict that Johnson & Johnson will post 10 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were given a dividend of $1.24 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 3.07%. Johnson & Johnson’s payout ratio is presently 30.92%.

Johnson & Johnson Company Profile

(Free Report)

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.

Featured Articles