Johnson & Johnson (NYSE:JNJ) Position Increased by Avity Investment Management Inc.

Avity Investment Management Inc. raised its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 0.6% in the 3rd quarter, Holdings Channel reports. The firm owned 242,217 shares of the company’s stock after purchasing an additional 1,498 shares during the quarter. Johnson & Johnson comprises about 3.1% of Avity Investment Management Inc.’s investment portfolio, making the stock its 19th biggest holding. Avity Investment Management Inc.’s holdings in Johnson & Johnson were worth $39,254,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Summit Wealth Partners LLC boosted its holdings in Johnson & Johnson by 0.6% during the 2nd quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company’s stock valued at $1,463,000 after acquiring an additional 61 shares during the period. Citizens & Northern Corp raised its position in Johnson & Johnson by 3.5% during the 2nd quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock valued at $275,000 after purchasing an additional 63 shares during the last quarter. Eagle Wealth Strategies LLC raised its position in Johnson & Johnson by 2.8% during the 3rd quarter. Eagle Wealth Strategies LLC now owns 2,294 shares of the company’s stock valued at $372,000 after purchasing an additional 63 shares during the last quarter. Epic Trust Investment Advisors LLC raised its position in Johnson & Johnson by 3.6% during the 2nd quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock valued at $268,000 after purchasing an additional 64 shares during the last quarter. Finally, Pine Harbor Wealth Management LLC raised its position in Johnson & Johnson by 1.9% during the 2nd quarter. Pine Harbor Wealth Management LLC now owns 3,472 shares of the company’s stock valued at $507,000 after purchasing an additional 64 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

JNJ stock opened at $161.46 on Friday. The company has a market cap of $388.58 billion, a P/E ratio of 10.07, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. The stock’s fifty day moving average price is $162.59 and its 200-day moving average price is $154.49.

Johnson & Johnson (NYSE:JNJ) last released 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 the consensus estimate of $22.33 billion. During the same period last year, the business posted $2.80 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities analysts forecast that Johnson & Johnson will post 10 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were issued a $1.24 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a yield of 3.07%. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Analyst Upgrades and Downgrades

JNJ has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target on Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Daiwa Capital Markets lowered Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Daiwa America lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada increased their target price on Johnson & Johnson from $175.00 to $178.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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 value of $930,113.10. Following the transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is owned by insiders.

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.