Harbor Investment Advisory LLC Has $8 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

Harbor Investment Advisory LLC trimmed its stake in Johnson & Johnson (NYSE:JNJ) by 4.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,356 shares of the company’s stock after selling 2,132 shares during the quarter. Johnson & Johnson makes up about 0.7% of Harbor Investment Advisory LLC’s portfolio, making the stock its 22nd biggest holding. Harbor Investment Advisory LLC’s holdings in Johnson & Johnson were worth $7,999,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Innealta Capital LLC acquired a new position in shares of Johnson & Johnson during the 2nd quarter worth about $27,000. MFA Wealth Advisors LLC bought a new position in shares of Johnson & Johnson during the 2nd quarter worth approximately $43,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $44,000. Fairfield Financial Advisors LTD acquired a new stake in Johnson & Johnson during the 2nd quarter valued at $46,000. Finally, Grayhawk Investment Strategies Inc. boosted its position in Johnson & Johnson by 528.6% during the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after purchasing an additional 259 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

NYSE JNJ traded down $0.21 during trading on Friday, hitting $160.29. 5,331,694 shares of the company’s stock were exchanged, compared to its average volume of 7,091,981. The stock’s 50 day moving average price is $162.60 and its two-hundred day moving average price is $154.33. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week 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 company has a market cap of $385.77 billion, a PE ratio of 9.99, a P/E/G ratio of 2.69 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 EPS 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 company had revenue of $22.45 billion during the quarter, compared to analysts’ expectations of $22.33 billion. During the same period in the prior year, the company earned $2.80 EPS. Johnson & Johnson’s revenue was up 4.3% compared to the same quarter last year. Research analysts expect that Johnson & Johnson will post 10.02 EPS for the current year.

Johnson & Johnson Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Sanford C. Bernstein lifted their target price on shares of Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. The Goldman Sachs Group dropped their price target on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, July 19th. TD Cowen decreased their price objective on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. TD Securities reduced their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Finally, Morgan Stanley lifted their price objective on shares of Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $173.21.

Insider Buying and Selling

In related news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by insiders.

Johnson & Johnson Company 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.