Johnson & Johnson (NYSE:JNJ) Shares Sold by Pinnacle Bancorp Inc.

Pinnacle Bancorp Inc. trimmed its position in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 0.6% in the second quarter, Holdings Channel.com reports. The firm owned 16,439 shares of the company’s stock after selling 104 shares during the period. Johnson & Johnson comprises approximately 1.2% of Pinnacle Bancorp Inc.’s investment portfolio, making the stock its 14th largest position. Pinnacle Bancorp Inc.’s holdings in Johnson & Johnson were worth $2,918,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in JNJ. Magnolia Capital Management Ltd. increased its stake in Johnson & Johnson by 0.5% during the 1st quarter. Magnolia Capital Management Ltd. now owns 11,162 shares of the company’s stock valued at $1,978,000 after buying an additional 55 shares during the period. Howard Financial Services LTD. increased its stake in Johnson & Johnson by 2.1% during the 1st quarter. Howard Financial Services LTD. now owns 2,757 shares of the company’s stock valued at $489,000 after buying an additional 57 shares during the period. American Financial Advisors LLC grew its stake in shares of Johnson & Johnson by 2.1% in the 1st quarter. American Financial Advisors LLC now owns 2,715 shares of the company’s stock worth $481,000 after purchasing an additional 57 shares during the last quarter. Taylor & Morgan Wealth Management LLC grew its stake in shares of Johnson & Johnson by 1.6% in the 2nd quarter. Taylor & Morgan Wealth Management LLC now owns 3,580 shares of the company’s stock worth $635,000 after purchasing an additional 57 shares during the last quarter. Finally, Kwmg LLC grew its stake in shares of Johnson & Johnson by 2.6% in the 1st quarter. Kwmg LLC now owns 2,354 shares of the company’s stock worth $417,000 after purchasing an additional 59 shares during the last quarter. 68.59% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Stock Performance

JNJ stock opened at $163.28 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.17 and a current ratio of 1.42. The stock has a market cap of $429.29 billion, a P/E ratio of 23.77, a P/E/G ratio of 2.97 and a beta of 0.61. The firm has a 50 day simple moving average of $168.25 and a 200 day simple moving average of $174.16. Johnson & Johnson has a 52 week low of $155.72 and a 52 week high of $186.69.

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

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd were issued a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend was Monday, August 22nd. Johnson & Johnson’s dividend payout ratio is currently 65.79%.

Johnson & Johnson announced that its board has approved a stock repurchase program on Wednesday, September 14th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 1.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on JNJ shares. Morgan Stanley lowered their price objective on shares of Johnson & Johnson from $174.00 to $173.00 and set an “equal weight” rating on the stock in a research note on Monday, September 12th. Citigroup lowered their price objective on shares of Johnson & Johnson from $205.00 to $201.00 in a research note on Wednesday, July 20th. SVB Leerink lowered their price objective on shares of Johnson & Johnson from $200.00 to $194.00 in a research note on Wednesday, July 20th. Daiwa Capital Markets assumed coverage on shares of Johnson & Johnson in a research report on Wednesday, June 22nd. They issued an “outperform” rating on the stock. Finally, UBS Group dropped their target price on shares of Johnson & Johnson from $185.00 to $180.00 in a research report on Thursday, July 21st. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average price target of $189.78.

About Johnson & Johnson

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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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