PineStone Asset Management Inc. Reduces Holdings in Johnson & Johnson $JNJ

PineStone Asset Management Inc. decreased its position in shares of Johnson & Johnson (NYSE:JNJ) by 4.1% during the third quarter, HoldingsChannel reports. The fund owned 2,090,409 shares of the company’s stock after selling 88,561 shares during the quarter. Johnson & Johnson accounts for approximately 2.4% of PineStone Asset Management Inc.’s investment portfolio, making the stock its 14th largest holding. PineStone Asset Management Inc.’s holdings in Johnson & Johnson were worth $387,604,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Valley National Advisers Inc. boosted its stake in shares of Johnson & Johnson by 12.0% during the 3rd quarter. Valley National Advisers Inc. now owns 3,756 shares of the company’s stock worth $695,000 after purchasing an additional 401 shares during the period. Worth Asset Management LLC lifted its stake in Johnson & Johnson by 50.8% in the third quarter. Worth Asset Management LLC now owns 2,759 shares of the company’s stock worth $512,000 after purchasing an additional 930 shares during the last quarter. Perigon Wealth Management LLC boosted its position in shares of Johnson & Johnson by 2.8% during the third quarter. Perigon Wealth Management LLC now owns 73,580 shares of the company’s stock valued at $13,643,000 after buying an additional 2,006 shares during the period. Sapient Capital LLC grew its stake in shares of Johnson & Johnson by 4.7% during the third quarter. Sapient Capital LLC now owns 57,784 shares of the company’s stock valued at $10,495,000 after buying an additional 2,594 shares during the last quarter. Finally, Sovereign Financial Group Inc. raised its holdings in shares of Johnson & Johnson by 3.7% in the third quarter. Sovereign Financial Group Inc. now owns 4,194 shares of the company’s stock worth $778,000 after buying an additional 149 shares during the period. Institutional investors own 69.55% of the company’s stock.

Analyst Upgrades and Downgrades

JNJ has been the subject of a number of recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Johnson & Johnson in a report on Friday, October 31st. Wells Fargo & Company boosted their target price on shares of Johnson & Johnson from $212.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. UBS Group upped their price target on shares of Johnson & Johnson from $190.00 to $214.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. The Goldman Sachs Group lifted their price objective on shares of Johnson & Johnson from $213.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, December 18th. Finally, Cowen restated a “buy” rating on shares of Johnson & Johnson in a research note on Tuesday, October 14th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $211.25.

Johnson & Johnson Stock Down 0.3%

NYSE:JNJ opened at $206.93 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.07 and a quick ratio of 0.80. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $215.18. The company has a 50-day moving average of $200.25 and a 200 day moving average of $181.93. The firm has a market cap of $498.56 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 2.25 and a beta of 0.36.

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

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th were issued a dividend of $1.30 per share. The ex-dividend date was Tuesday, November 25th. This represents a $5.20 dividend on an annualized basis and a yield of 2.5%. Johnson & Johnson’s dividend payout ratio is currently 50.19%.

Johnson & Johnson Profile

Johnson & Johnson is a multinational healthcare company headquartered in New Brunswick, New Jersey, that develops, manufactures and markets a broad range of products across pharmaceuticals, medical devices and previously consumer health. Founded in 1886 by the Johnson family, the company has grown into a global healthcare organization with operations and sales in many countries around the world.

The company’s pharmaceuticals business, organized largely under its Janssen research and development organization, focuses on prescription medicines across therapeutic areas such as immunology, infectious disease, oncology and neuroscience.