PNC Financial Services Group Inc. Cuts Position in Johnson & Johnson (NYSE:JNJ)

PNC Financial Services Group Inc. lessened its position in shares of Johnson & Johnson (NYSE:JNJ) by 1.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,213,679 shares of the company’s stock after selling 93,807 shares during the period. Johnson & Johnson comprises 0.6% of PNC Financial Services Group Inc.’s investment portfolio, making the stock its 23rd biggest holding. PNC Financial Services Group Inc. owned about 0.26% of Johnson & Johnson worth $1,006,989,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of JNJ. Innealta Capital LLC acquired a new stake in Johnson & Johnson in the second quarter valued at $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Johnson & Johnson during the 3rd quarter worth about $31,000. Mowery & Schoenfeld Wealth Management LLC lifted its stake in Johnson & Johnson by 58.7% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after purchasing an additional 91 shares during the last quarter. Morton Brown Family Wealth LLC boosted its holdings in Johnson & Johnson by 400.0% in the third 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 in the last quarter. Finally, MFA Wealth Advisors LLC purchased a new position in Johnson & Johnson in the second quarter valued at approximately $43,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the transaction, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. This trade represents a 22.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

JNJ has been the subject of several recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Royal Bank of Canada boosted their price target on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Wolfe Research started coverage on Johnson & Johnson in a research report on Friday. They set an “outperform” rating and a $190.00 target price on the stock. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Finally, Daiwa Capital Markets downgraded shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Seven 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 company’s stock. According to data from MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus price target of $175.94.

Johnson & Johnson Stock Up 0.5 %

Shares of NYSE:JNJ opened at $154.77 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The firm has a market cap of $372.63 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 2.74 and a beta of 0.53. The stock’s 50-day moving average price is $161.11 and its two-hundred day moving average price is $156.16. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85.

Johnson & Johnson (NYSE:JNJ) last released its 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. The firm had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. Johnson & Johnson’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.66 earnings per share. On average, research analysts forecast that Johnson & Johnson will post 9.93 EPS for the current year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be issued a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.20%. Johnson & Johnson’s dividend payout ratio (DPR) is 71.78%.

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.