Schmidt P J Investment Management Inc. Has $5.46 Million Position in Johnson & Johnson (NYSE:JNJ)

Schmidt P J Investment Management Inc. lowered its holdings in Johnson & Johnson (NYSE:JNJGet Rating) by 21.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 32,343 shares of the company’s stock after selling 8,929 shares during the quarter. Johnson & Johnson comprises about 1.3% of Schmidt P J Investment Management Inc.’s investment portfolio, making the stock its 24th largest position. Schmidt P J Investment Management Inc.’s holdings in Johnson & Johnson were worth $5,457,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of JNJ. Morton Brown Family Wealth LLC lifted its stake in shares of Johnson & Johnson by 78.0% during the second quarter. Morton Brown Family Wealth LLC now owns 178 shares of the company’s stock valued at $32,000 after acquiring an additional 78 shares during the period. Goodman Advisory Group LLC acquired a new position in shares of Johnson & Johnson during the second quarter valued at $39,000. Cardinal Capital Management Inc. lifted its stake in shares of Johnson & Johnson by 333.3% during the second quarter. Cardinal Capital Management Inc. now owns 260 shares of the company’s stock valued at $46,000 after acquiring an additional 200 shares during the period. First Bank & Trust lifted its stake in shares of Johnson & Johnson by 69.6% during the second quarter. First Bank & Trust now owns 380 shares of the company’s stock valued at $67,000 after acquiring an additional 156 shares during the period. Finally, Heritage Wealth Management LLC acquired a new position in shares of Johnson & Johnson during the second quarter valued at $84,000. Institutional investors and hedge funds own 67.94% of the company’s stock.

Insider Buying and Selling

In related news, VP Peter Fasolo sold 22,864 shares of the stock in a transaction dated Wednesday, October 19th. The stock was sold at an average price of $164.50, for a total transaction of $3,761,128.00. Following the completion of the transaction, the vice president now directly owns 114,676 shares in the company, valued at $18,864,202. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Peter Fasolo sold 22,864 shares of the stock in a transaction that occurred on Wednesday, October 19th. The stock was sold at an average price of $164.50, for a total transaction of $3,761,128.00. Following the completion of the transaction, the vice president now directly owns 114,676 shares of the company’s stock, valued at $18,864,202. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William Hait sold 15,000 shares of the stock in a transaction that occurred on Monday, October 24th. The shares were sold at an average price of $171.55, for a total value of $2,573,250.00. Following the transaction, the insider now directly owns 80,236 shares of the company’s stock, valued at $13,764,485.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 300,750 shares of company stock worth $52,311,677. 0.35% of the stock is owned by corporate insiders.

Johnson & Johnson Stock Up 0.8 %

Shares of Johnson & Johnson stock opened at $180.25 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.43 and a quick ratio of 1.18. The company has a market capitalization of $471.26 billion, a P/E ratio of 25.10, a price-to-earnings-growth ratio of 3.45 and a beta of 0.56. Johnson & Johnson has a 1 year low of $155.72 and a 1 year high of $186.69. The business has a 50-day moving average of $176.05 and a two-hundred day moving average of $171.65.

Johnson & Johnson (NYSE:JNJGet Rating) last posted its quarterly earnings data on Tuesday, October 18th. The company reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. The business had revenue of $23.79 billion during the quarter, compared to the consensus estimate of $23.44 billion. Johnson & Johnson had a return on equity of 35.37% and a net margin of 19.95%. Johnson & Johnson’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the company earned $2.60 earnings per share. As a group, equities analysts predict that Johnson & Johnson will post 10.04 EPS for the current year.

Johnson & Johnson declared that its Board of Directors has approved a stock repurchase plan on Wednesday, September 14th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to purchase up to 1.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 7th. Investors of record on Tuesday, February 21st will be issued a dividend of $1.13 per share. The ex-dividend date of this dividend is Friday, February 17th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.51%. Johnson & Johnson’s payout ratio is presently 62.95%.

Analyst Ratings Changes

JNJ has been the topic of several research reports. Morgan Stanley cut their price target on Johnson & Johnson from $178.00 to $176.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 6th. Atlantic Securities dropped their price objective on Johnson & Johnson from $165.00 to $160.00 and set a “neutral” rating for the company in a report on Wednesday, October 19th. Citigroup upped their price objective on Johnson & Johnson from $198.00 to $205.00 and gave the company a “buy” rating in a report on Monday, December 12th. Credit Suisse Group initiated coverage on Johnson & Johnson in a report on Thursday, November 17th. They issued a “neutral” rating and a $170.00 price objective for the company. Finally, Sanford C. Bernstein dropped their price objective on Johnson & Johnson from $194.00 to $190.00 in a report on Wednesday, October 19th. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.42.

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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