Johnson & Johnson (NYSE:JNJ) Shares Sold by Bedell Frazier Investment Counselling LLC

Bedell Frazier Investment Counselling LLC cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 1.0% in the third quarter, HoldingsChannel.com reports. The fund owned 76,635 shares of the company’s stock after selling 739 shares during the period. Johnson & Johnson makes up about 3.0% of Bedell Frazier Investment Counselling LLC’s investment portfolio, making the stock its 8th biggest position. Bedell Frazier Investment Counselling LLC’s holdings in Johnson & Johnson were worth $12,419,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new position in Johnson & Johnson during the second quarter worth $27,000. Highline Wealth Partners LLC acquired a new position in Johnson & Johnson during the third quarter worth $31,000. Mowery & Schoenfeld Wealth Management LLC raised its position 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 acquiring an additional 91 shares during the period. Activest Wealth Management acquired a new position in Johnson & Johnson during the third quarter worth $40,000. Finally, Morton Brown Family Wealth LLC raised its position in Johnson & Johnson by 400.0% during the third quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock worth $41,000 after acquiring an additional 200 shares during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on JNJ. Royal Bank of Canada upped their target price on shares of Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Wolfe Research began coverage on shares of Johnson & Johnson in a report on Friday, November 15th. They issued an “outperform” rating and a $190.00 price objective for the company. Citigroup upped their price objective on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Morgan Stanley upped their price objective on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Finally, Guggenheim upped their price objective on shares of Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.94.

Insider Transactions at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the sale, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. This represents a 22.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Trading Down 0.2 %

NYSE JNJ opened at $155.17 on Monday. The stock has a market capitalization of $373.59 billion, a P/E ratio of 22.46, a PEG ratio of 2.76 and a beta of 0.53. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85. 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 firm’s 50-day moving average is $160.21 and its two-hundred day moving average is $156.32.

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

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 annualized dividend and a dividend yield of 3.20%. Johnson & Johnson’s dividend payout ratio is presently 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.