Capital Investment Services of America Inc. Cuts Position in Johnson & Johnson $JNJ

Capital Investment Services of America Inc. lessened its position in shares of Johnson & Johnson (NYSE:JNJ) by 2.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 6,467 shares of the company’s stock after selling 150 shares during the quarter. Capital Investment Services of America Inc.’s holdings in Johnson & Johnson were worth $988,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. GFG Capital LLC purchased a new position in Johnson & Johnson during the 2nd quarter valued at approximately $35,000. Stone House Investment Management LLC purchased a new position in shares of Johnson & Johnson in the 1st quarter worth approximately $47,000. 1248 Management LLC purchased a new position in shares of Johnson & Johnson in the 1st quarter worth approximately $48,000. von Borstel & Associates Inc. purchased a new position in shares of Johnson & Johnson in the 1st quarter worth approximately $49,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Johnson & Johnson in the 1st quarter worth approximately $52,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

Shares of JNJ stock opened at $192.31 on Friday. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $194.48. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. The firm has a market capitalization of $463.15 billion, a P/E ratio of 18.56, a P/E/G ratio of 2.27 and a beta of 0.40. The stock has a 50 day moving average price of $181.99 and a 200 day moving average price of $165.84.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. Johnson & Johnson had a return on equity of 33.08% and a net margin of 27.26%.The firm had revenue of $24.02 billion during the quarter. As a group, sell-side analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 25th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, November 25th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 50.19%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on JNJ shares. The Goldman Sachs Group lifted their target price on Johnson & Johnson from $186.00 to $212.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Johnson Rice set a $190.00 target price on Johnson & Johnson and gave the stock a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their target price on Johnson & Johnson from $185.00 to $200.00 and gave the stock a “neutral” rating in a report on Tuesday, September 16th. Raymond James Financial lifted their target price on Johnson & Johnson from $174.00 to $209.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. Finally, Erste Group Bank upgraded Johnson & Johnson from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $199.05.

Insiders Place Their Bets

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the completion of the sale, the executive vice president directly owned 178,013 shares of the company’s stock, valued at $31,652,491.53. The trade was a 24.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.16% of the stock is currently owned by company insiders.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.