Saybrook Capital NC Trims Stock Holdings in Johnson & Johnson $JNJ

Saybrook Capital NC decreased its holdings in Johnson & Johnson (NYSE:JNJ) by 21.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,142 shares of the company’s stock after selling 2,798 shares during the period. Johnson & Johnson accounts for about 0.4% of Saybrook Capital NC’s holdings, making the stock its 24th biggest position. Saybrook Capital NC’s holdings in Johnson & Johnson were worth $1,549,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of JNJ. GFG Capital LLC purchased a new position in shares of Johnson & Johnson in the second quarter worth about $35,000. Stone House Investment Management LLC purchased a new position in shares of Johnson & Johnson in the first quarter worth about $47,000. 1248 Management LLC purchased a new position in shares of Johnson & Johnson in the first quarter worth about $48,000. von Borstel & Associates Inc. purchased a new position in Johnson & Johnson during the first quarter valued at approximately $49,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in Johnson & Johnson during the first quarter valued at approximately $52,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

JNJ has been the subject of several recent analyst reports. Raymond James Financial boosted their price objective on shares of Johnson & Johnson from $174.00 to $209.00 and gave the company an “outperform” rating in a research note on Wednesday, October 15th. Stifel Nicolaus boosted their price objective on shares of Johnson & Johnson from $165.00 to $190.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. JPMorgan Chase & Co. boosted their price objective on shares of Johnson & Johnson from $185.00 to $200.00 and gave the company a “neutral” rating in a research note on Tuesday, September 16th. Wall Street Zen raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Finally, Sanford C. Bernstein boosted their price objective on shares of Johnson & Johnson from $172.00 to $193.00 and gave the company a “market perform” rating in a research note on Monday, October 6th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.05.

Johnson & Johnson Trading Down 1.1%

Shares of Johnson & Johnson stock opened at $190.38 on Friday. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $194.48. The firm has a market cap of $458.69 billion, a PE ratio of 18.38, a PEG ratio of 2.24 and a beta of 0.40. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.07 and a quick ratio of 0.76. The company has a 50 day simple moving average of $182.26 and a two-hundred day simple moving average of $166.25.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. The business had revenue of $24.02 billion during the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. Analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Tuesday, November 25th. Johnson & Johnson’s payout ratio is presently 50.19%.

Insider Buying and Selling at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total value of $10,041,108.51. Following the completion of the sale, the executive vice president directly owned 178,013 shares in the company, valued at approximately $31,652,491.53. The trade was a 24.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Profile

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.