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Johnson & Johnson (NYSE:JNJ) Shares Sold by Pitti Group Wealth Management LLC

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Pitti Group Wealth Management LLC lowered its stake in Johnson & Johnson (NYSE:JNJGet Rating) by 0.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,086 shares of the company’s stock after selling 192 shares during the period. Johnson & Johnson accounts for 4.8% of Pitti Group Wealth Management LLC’s portfolio, making the stock its 6th largest position. Pitti Group Wealth Management LLC’s holdings in Johnson & Johnson were worth $4,092,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Magnolia Capital Management Ltd. grew its position in shares of Johnson & Johnson by 0.5% in the 1st quarter. Magnolia Capital Management Ltd. now owns 11,162 shares of the company’s stock worth $1,978,000 after buying an additional 55 shares during the period. Howard Financial Services LTD. boosted its stake in Johnson & Johnson by 2.1% in the 1st quarter. Howard Financial Services LTD. now owns 2,757 shares of the company’s stock worth $489,000 after purchasing an additional 57 shares in the last quarter. American Financial Advisors LLC boosted its stake in Johnson & Johnson by 2.1% in the 1st quarter. American Financial Advisors LLC now owns 2,715 shares of the company’s stock worth $481,000 after purchasing an additional 57 shares in the last quarter. Capital Investment Counsel Inc boosted its stake in Johnson & Johnson by 0.8% in the 4th quarter. Capital Investment Counsel Inc now owns 7,796 shares of the company’s stock worth $1,334,000 after purchasing an additional 59 shares in the last quarter. Finally, Kwmg LLC boosted its stake in Johnson & Johnson by 2.6% in the 1st quarter. Kwmg LLC now owns 2,354 shares of the company’s stock worth $417,000 after purchasing an additional 59 shares in the last quarter. Institutional investors and hedge funds own 68.78% of the company’s stock.

Johnson & Johnson Trading Up 0.4 %

Johnson & Johnson stock opened at $171.31 on Friday. The firm has a 50 day moving average of $176.35 and a 200 day moving average of $174.34. The firm has a market capitalization of $450.79 billion, a price-to-earnings ratio of 24.94, a P/E/G ratio of 3.42 and a beta of 0.63. Johnson & Johnson has a 12-month low of $155.72 and a 12-month high of $186.69. The company has a current ratio of 1.39, a quick ratio of 1.14 and a debt-to-equity ratio of 0.39.

Johnson & Johnson (NYSE:JNJGet Rating) last released its earnings results on Tuesday, July 19th. The company reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.02. The company had revenue of $24.02 billion during the quarter, compared to analyst estimates of $23.85 billion. Johnson & Johnson had a net margin of 19.21% and a return on equity of 36.56%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.48 EPS. As a group, research analysts predict that Johnson & Johnson will post 10.01 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 23rd will be issued a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Monday, August 22nd. Johnson & Johnson’s dividend payout ratio (DPR) is currently 65.79%.

Analyst Upgrades and Downgrades

JNJ has been the topic of a number of analyst reports. UBS Group dropped their price target on shares of Johnson & Johnson from $185.00 to $180.00 in a research note on Thursday. Credit Suisse Group upped their target price on shares of Johnson & Johnson from $200.00 to $205.00 and gave the company an “outperform” rating in a research note on Wednesday, April 20th. Wells Fargo & Company upped their target price on shares of Johnson & Johnson from $190.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, July 13th. SVB Leerink lowered their target price on shares of Johnson & Johnson from $200.00 to $194.00 in a research note on Wednesday. Finally, Daiwa Capital Markets initiated coverage on shares of Johnson & Johnson in a research note on Wednesday, June 22nd. They set an “outperform” rating on the stock. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus price target of $189.89.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, CAO Robert J. Decker sold 8,462 shares of the stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $180.00, for a total transaction of $1,523,160.00. Following the completion of the sale, the chief accounting officer now directly owns 15,473 shares of the company’s stock, valued at approximately $2,785,140. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Johnson & Johnson news, EVP Kathryn E. Wengel sold 40,000 shares of the stock in a transaction that occurred on Friday, June 10th. The shares were sold at an average price of $173.00, for a total transaction of $6,920,000.00. Following the completion of the sale, the executive vice president now directly owns 71,311 shares of the company’s stock, valued at approximately $12,336,803. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Robert J. Decker sold 8,462 shares of the stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $180.00, for a total value of $1,523,160.00. Following the transaction, the chief accounting officer now owns 15,473 shares of the company’s stock, valued at $2,785,140. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Johnson & Johnson Profile

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Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company’s Consumer Health segment offers baby care products under the JOHNSON’S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.

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