Ipswich Investment Management Co. Inc. Decreases Holdings in Johnson & Johnson (NYSE:JNJ)

Ipswich Investment Management Co. Inc. trimmed its holdings in Johnson & Johnson (NYSE:JNJ) by 1.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 42,838 shares of the company’s stock after selling 450 shares during the quarter. Johnson & Johnson accounts for about 1.6% of Ipswich Investment Management Co. Inc.’s holdings, making the stock its 19th biggest holding. Ipswich Investment Management Co. Inc.’s holdings in Johnson & Johnson were worth $6,942,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Innealta Capital LLC bought a new position in shares of Johnson & Johnson in the second quarter worth approximately $27,000. Highline Wealth Partners LLC purchased a new position in shares of Johnson & Johnson in the third quarter valued at about $31,000. Mowery & Schoenfeld Wealth Management LLC raised its stake in shares of Johnson & Johnson by 58.7% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after acquiring an additional 91 shares during the last quarter. Morton Brown Family Wealth LLC increased its holdings in Johnson & Johnson by 400.0% during the 3rd quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock valued at $41,000 after purchasing an additional 200 shares during the period. Finally, MFA Wealth Advisors LLC bought a new position in Johnson & Johnson during the 2nd quarter valued at approximately $43,000. Institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on JNJ shares. Citigroup boosted their target price on Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley raised their target price on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Daiwa America lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group decreased their target price on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Finally, StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average target price of $175.94.

Johnson & Johnson Trading Up 1.4 %

Johnson & Johnson stock opened at $153.99 on Friday. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85. The business’s fifty day moving average is $161.35 and its 200 day moving average is $156.02. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. The stock has a market capitalization of $370.75 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 2.72 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The firm had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. During the same period in the previous year, the company earned $2.66 earnings per share. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. On average, sell-side analysts predict that Johnson & Johnson will post 9.93 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio is 71.78%.

Insider Transactions at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction that occurred 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 directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. This represents a 22.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.16% of the company’s stock.

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.