Independence Trust CO lifted its holdings in Johnson & Johnson (NYSE:JNJ) by 3.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 30,217 shares of the company’s stock after buying an additional 931 shares during the quarter. Johnson & Johnson comprises approximately 4.5% of Independence Trust CO’s portfolio, making the stock its 6th largest holding. Independence Trust CO’s holdings in Johnson & Johnson were worth $3,928,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. OLD Point Trust & Financial Services N A boosted its stake in shares of Johnson & Johnson by 2.2% in the second quarter. OLD Point Trust & Financial Services N A now owns 61,326 shares of the company’s stock valued at $8,113,000 after purchasing an additional 1,321 shares during the period. Welch & Forbes LLC boosted its stake in shares of Johnson & Johnson by 0.9% in the second quarter. Welch & Forbes LLC now owns 718,331 shares of the company’s stock valued at $95,028,000 after purchasing an additional 6,730 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Johnson & Johnson by 0.5% in the second quarter. Janney Montgomery Scott LLC now owns 771,868 shares of the company’s stock valued at $102,110,000 after purchasing an additional 3,533 shares during the period. Oliver Luxxe Assets LLC boosted its stake in shares of Johnson & Johnson by 12.7% in the second quarter. Oliver Luxxe Assets LLC now owns 17,538 shares of the company’s stock valued at $2,320,000 after purchasing an additional 1,972 shares during the period. Finally, Sitrin Capital Management LLC boosted its stake in shares of Johnson & Johnson by 1.6% in the second quarter. Sitrin Capital Management LLC now owns 48,986 shares of the company’s stock valued at $6,480,000 after purchasing an additional 792 shares during the period. 65.70% of the stock is owned by institutional investors.

Johnson & Johnson (NYSE:JNJ) opened at $143.97 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.32 and a quick ratio of 1.02. Johnson & Johnson has a 52-week low of $110.76 and a 52-week high of $145.68. The stock has a market cap of $386,780.00, a PE ratio of 24.99, a PEG ratio of 2.67 and a beta of 0.80.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, October 17th. The company reported $1.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.80 by $0.10. Johnson & Johnson had a net margin of 21.28% and a return on equity of 27.38%. The company had revenue of $19.65 billion for the quarter, compared to the consensus estimate of $19.29 billion. During the same period last year, the firm posted $1.68 EPS. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. research analysts anticipate that Johnson & Johnson will post 7.28 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 13th. Stockholders of record on Tuesday, February 27th will be given a $0.84 dividend. The ex-dividend date is Monday, February 26th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.33%. Johnson & Johnson’s payout ratio is currently 58.33%.

Several research analysts have recently weighed in on the stock. Piper Jaffray Companies restated a “hold” rating and issued a $120.00 target price on shares of Johnson & Johnson in a research note on Wednesday, October 4th. Vetr downgraded shares of Johnson & Johnson from a “hold” rating to a “sell” rating and set a $130.49 target price for the company. in a research note on Monday, September 18th. Stifel Nicolaus upped their target price on shares of Johnson & Johnson from $140.00 to $142.00 and gave the company a “hold” rating in a research note on Wednesday, October 18th. Wells Fargo & Co upgraded shares of Johnson & Johnson from a “market perform” rating to an “outperform” rating and upped their target price for the company from $140.00 to $149.00 in a research note on Monday, October 9th. Finally, JPMorgan Chase & Co. downgraded shares of Johnson & Johnson from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 2nd. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $145.52.

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About Johnson & Johnson

Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. It operates through three segments: Consumer, Pharmaceutical and Medical Devices. Its primary focus is products related to human health and well-being.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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