Oak Harvest Investment Services Trims Stock Position in Johnson & Johnson (NYSE:JNJ)

Oak Harvest Investment Services lessened its holdings in Johnson & Johnson (NYSE:JNJ) by 0.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,172 shares of the company’s stock after selling 479 shares during the period. Johnson & Johnson makes up 1.3% of Oak Harvest Investment Services’ investment portfolio, making the stock its 28th largest position. Oak Harvest Investment Services’ holdings in Johnson & Johnson were worth $8,779,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JFS Wealth Advisors LLC boosted its stake in Johnson & Johnson by 49.7% during the third quarter. JFS Wealth Advisors LLC now owns 30,621 shares of the company’s stock worth $4,962,000 after buying an additional 10,160 shares during the period. SteelPeak Wealth LLC boosted its position in shares of Johnson & Johnson by 9.6% during the 3rd quarter. SteelPeak Wealth LLC now owns 77,813 shares of the company’s stock worth $12,610,000 after purchasing an additional 6,786 shares during the period. Diversify Wealth Management LLC increased its holdings in Johnson & Johnson by 18.4% in the 3rd quarter. Diversify Wealth Management LLC now owns 11,709 shares of the company’s stock valued at $1,942,000 after purchasing an additional 1,822 shares during the last quarter. Pinnacle Associates Ltd. raised its position in Johnson & Johnson by 2.3% in the third quarter. Pinnacle Associates Ltd. now owns 1,307,304 shares of the company’s stock valued at $204,907,000 after purchasing an additional 29,597 shares during the period. Finally, First Trust Direct Indexing L.P. boosted its position in shares of Johnson & Johnson by 16.4% during the third quarter. First Trust Direct Indexing L.P. now owns 62,877 shares of the company’s stock worth $10,190,000 after buying an additional 8,874 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Trading Down 0.5 %

NYSE:JNJ opened at $159.86 on Friday. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85. The stock has a market cap of $384.88 billion, a P/E ratio of 23.13, a P/E/G ratio of 2.90 and a beta of 0.52. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. The stock has a 50-day simple moving average of $163.39 and a 200-day simple moving average of $155.35.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.46% and a net margin of 19.14%. The firm had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. During the same period in the prior year, the company posted $2.66 earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, analysts anticipate that Johnson & Johnson will post 9.94 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be given a $1.24 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a yield of 3.10%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 71.78%.

Insider Buying and Selling at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was 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 directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Royal Bank of Canada boosted their price objective on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Daiwa America lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Sanford C. Bernstein raised their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Citigroup upped their target price on shares of Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group decreased their price target on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $175.93.

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.