Patten Group Inc. Has $3.79 Million Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Patten Group Inc. lowered its stake in shares of Johnson & Johnson (NYSE:JNJ) by 5.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,372 shares of the company’s stock after selling 1,463 shares during the period. Johnson & Johnson makes up 0.8% of Patten Group Inc.’s portfolio, making the stock its 22nd biggest position. Patten Group Inc.’s holdings in Johnson & Johnson were worth $3,788,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of JNJ. Wellington Management Group LLP lifted its stake in Johnson & Johnson by 16.4% in the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after buying an additional 3,391,657 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Johnson & Johnson by 506.9% in the second quarter. Marshall Wace LLP now owns 3,884,962 shares of the company’s stock valued at $567,826,000 after purchasing an additional 3,244,862 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Johnson & Johnson by 16.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after buying an additional 3,139,499 shares in the last quarter. Ninety One UK Ltd lifted its stake in Johnson & Johnson by 59.0% in the 2nd quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock valued at $980,579,000 after acquiring an additional 2,489,925 shares in the last quarter. Finally, Swedbank AB bought a new position in shares of Johnson & Johnson during the 1st quarter worth approximately $331,178,000. 69.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. TD Securities decreased their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Royal Bank of Canada increased their price target on shares of Johnson & Johnson from $175.00 to $178.00 and gave the company an “outperform” rating in a research note on Tuesday. Morgan Stanley upped their target price on shares of Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Finally, TD Cowen reduced their price target on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $173.43.

Insider Buying and Selling

In related news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the sale, the vice president now owns 18,973 shares of the company’s stock, valued at $3,131,683.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $160.68 on Thursday. The firm has a 50 day moving average of $162.59 and a 200-day moving average of $154.36. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85. 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 capitalization of $386.71 billion, a PE ratio of 10.02, a PEG ratio of 2.69 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, beating 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 the consensus estimate of $22.33 billion. During the same quarter last year, the business posted $2.80 EPS. The company’s revenue was up 4.3% compared to the same quarter last year. On average, equities research analysts predict that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

About Johnson & Johnson

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.