PineStone Asset Management Inc. Sells 88,561 Shares of Johnson & Johnson $JNJ

PineStone Asset Management Inc. lessened its stake in Johnson & Johnson (NYSE:JNJ) by 4.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,090,409 shares of the company’s stock after selling 88,561 shares during the period. Johnson & Johnson makes up approximately 2.4% of PineStone Asset Management Inc.’s holdings, making the stock its 14th largest position. PineStone Asset Management Inc. owned about 0.09% of Johnson & Johnson worth $387,604,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of JNJ. Brighton Jones LLC grew its stake in shares of Johnson & Johnson by 13.9% during the 4th quarter. Brighton Jones LLC now owns 51,876 shares of the company’s stock valued at $7,502,000 after purchasing an additional 6,332 shares during the period. United Bank boosted its holdings in shares of Johnson & Johnson by 110.7% in the first quarter. United Bank now owns 9,279 shares of the company’s stock worth $1,539,000 after buying an additional 4,876 shares during the last quarter. Betterment LLC bought a new stake in Johnson & Johnson during the first quarter valued at approximately $265,000. 1248 Management LLC purchased a new stake in Johnson & Johnson during the first quarter valued at approximately $48,000. Finally, GW Henssler & Associates Ltd. raised its position in Johnson & Johnson by 40.7% in the first quarter. GW Henssler & Associates Ltd. now owns 3,657 shares of the company’s stock worth $606,000 after acquiring an additional 1,058 shares during the period. 69.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on JNJ. Morgan Stanley upped their price objective on Johnson & Johnson from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research note on Friday, December 12th. Citigroup boosted their price target on Johnson & Johnson from $215.00 to $232.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Barclays raised their price objective on Johnson & Johnson from $197.00 to $217.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Stifel Nicolaus lifted their price objective on Johnson & Johnson from $165.00 to $190.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. Finally, The Goldman Sachs Group increased their target price on shares of Johnson & Johnson from $213.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, December 18th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $211.25.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $206.93 on Wednesday. The stock has a 50-day moving average price of $200.25 and a 200 day moving average price of $181.93. The stock has a market capitalization of $498.56 billion, a P/E ratio of 19.97, a P/E/G ratio of 2.25 and a beta of 0.36. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $215.18. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.50.

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

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Investors of record on Tuesday, November 25th were given a $1.30 dividend. The ex-dividend date was Tuesday, November 25th. This represents a $5.20 annualized dividend and a yield of 2.5%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 50.19%.

Johnson & Johnson Profile

Johnson & Johnson is a multinational healthcare company headquartered in New Brunswick, New Jersey, that develops, manufactures and markets a broad range of products across pharmaceuticals, medical devices and previously consumer health. Founded in 1886 by the Johnson family, the company has grown into a global healthcare organization with operations and sales in many countries around the world.

The company’s pharmaceuticals business, organized largely under its Janssen research and development organization, focuses on prescription medicines across therapeutic areas such as immunology, infectious disease, oncology and neuroscience.