Johnson & Johnson (NYSE:JNJ) Shares Sold by Community Trust & Investment Co.

Community Trust & Investment Co. cut its position in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 17.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 111,889 shares of the company’s stock after selling 23,420 shares during the quarter. Johnson & Johnson accounts for 1.8% of Community Trust & Investment Co.’s portfolio, making the stock its 13th largest position. Community Trust & Investment Co.’s holdings in Johnson & Johnson were worth $19,861,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Koshinski Asset Management Inc. boosted its holdings in shares of Johnson & Johnson by 22.9% in the second quarter. Koshinski Asset Management Inc. now owns 55,664 shares of the company’s stock worth $9,881,000 after buying an additional 10,357 shares during the period. Insight Folios Inc boosted its holdings in shares of Johnson & Johnson by 6.3% in the second quarter. Insight Folios Inc now owns 35,566 shares of the company’s stock worth $6,313,000 after buying an additional 2,122 shares during the period. Hixon Zuercher LLC boosted its holdings in shares of Johnson & Johnson by 1.0% in the second quarter. Hixon Zuercher LLC now owns 34,275 shares of the company’s stock worth $6,084,000 after buying an additional 339 shares during the period. Everhart Financial Group Inc. boosted its holdings in shares of Johnson & Johnson by 16.7% in the second quarter. Everhart Financial Group Inc. now owns 8,521 shares of the company’s stock worth $1,512,000 after buying an additional 1,222 shares during the period. Finally, Lake Street Financial LLC boosted its holdings in shares of Johnson & Johnson by 1.7% during the second quarter. Lake Street Financial LLC now owns 34,977 shares of the company’s stock worth $6,209,000 after purchasing an additional 596 shares during the period. 68.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Morgan Stanley decreased their price target on shares of Johnson & Johnson from $174.00 to $173.00 and set an “equal weight” rating for the company in a report on Monday, September 12th. SVB Leerink decreased their price target on shares of Johnson & Johnson from $200.00 to $194.00 in a report on Wednesday, July 20th. Daiwa Capital Markets assumed coverage on shares of Johnson & Johnson in a report on Wednesday, June 22nd. They set an “outperform” rating for the company. Wells Fargo & Company raised their price target on shares of Johnson & Johnson from $190.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, July 13th. Finally, UBS Group cut their price objective on shares of Johnson & Johnson from $185.00 to $180.00 in a research report on Thursday, July 21st. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $189.78.

Johnson & Johnson Trading Up 1.8 %

NYSE:JNJ opened at $166.18 on Friday. Johnson & Johnson has a 12 month low of $155.72 and a 12 month high of $186.69. The firm has a market cap of $436.92 billion, a price-to-earnings ratio of 24.19, a P/E/G ratio of 2.95 and a beta of 0.61. The company has a quick ratio of 1.17, a current ratio of 1.42 and a debt-to-equity ratio of 0.37. The company’s 50 day moving average is $168.06 and its 200-day moving average is $174.12.

Johnson & Johnson (NYSE:JNJGet Rating) last released its quarterly earnings results on Tuesday, July 19th. The company reported $2.59 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.02. Johnson & Johnson had a net margin of 19.21% and a return on equity of 36.14%. The company had revenue of $24.02 billion for the quarter, compared to analyst estimates of $23.85 billion. During the same quarter last year, the firm posted $2.48 earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities analysts anticipate that Johnson & Johnson will post 10.7 EPS for the current year.

Johnson & Johnson declared that its board has approved a share buyback plan on Wednesday, September 14th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 1.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 23rd were given a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend was Monday, August 22nd. Johnson & Johnson’s dividend payout ratio is 65.79%.

Johnson & Johnson Profile

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Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment offers baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.

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

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