Johnson & Johnson (NYSE:JNJ) is Estabrook Capital Management’s 9th Largest Position

Estabrook Capital Management trimmed its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 0.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,246 shares of the company’s stock after selling 578 shares during the quarter. Johnson & Johnson accounts for about 2.1% of Estabrook Capital Management’s portfolio, making the stock its 9th largest position. Estabrook Capital Management’s holdings in Johnson & Johnson were worth $13,921,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in JNJ. Gilbert & Cook Inc. raised its holdings in shares of Johnson & Johnson by 3.3% in the fourth quarter. Gilbert & Cook Inc. now owns 9,111 shares of the company’s stock worth $1,428,000 after buying an additional 288 shares during the last quarter. 9258 Wealth Management LLC raised its stake in Johnson & Johnson by 2.1% in the 4th quarter. 9258 Wealth Management LLC now owns 22,034 shares of the company’s stock worth $3,454,000 after acquiring an additional 443 shares during the last quarter. Gryphon Financial Partners LLC lifted its position in Johnson & Johnson by 66.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 14,245 shares of the company’s stock worth $2,244,000 after acquiring an additional 5,680 shares during the period. TrinityPoint Wealth LLC grew its stake in Johnson & Johnson by 1.9% during the 4th quarter. TrinityPoint Wealth LLC now owns 36,777 shares of the company’s stock valued at $5,764,000 after purchasing an additional 700 shares during the last quarter. Finally, Citizens & Northern Corp increased its holdings in shares of Johnson & Johnson by 9.1% in the fourth quarter. Citizens & Northern Corp now owns 2,956 shares of the company’s stock valued at $463,000 after purchasing an additional 246 shares during the period. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the sale, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by company insiders.

Johnson & Johnson Trading Down 0.4 %

JNJ stock opened at $164.16 on Friday. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85. The business’s 50-day moving average is $161.30 and its 200 day moving average is $154.16. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The stock has a market cap of $395.08 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 2.71 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The firm had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.33 billion. During the same period in the previous year, the company posted $2.80 earnings per share. The business’s revenue was up 4.3% on a year-over-year basis. On average, sell-side analysts anticipate that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Analyst Ratings Changes

A number of brokerages recently commented on JNJ. TD Securities dropped their target price on Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a report on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Monday, September 16th. The Goldman Sachs Group decreased their target price on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Finally, Daiwa America lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $173.21.

Johnson & Johnson Profile

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.