Trade Report: Today, Private Asset Management Inc. Sold shares of Johnson & Johnson (JNJ)

Today, Private Asset Management Inc. Sold shares of Johnson & Johnson (JNJ)

Private Asset Management Inc. reduced its position in shares of Johnson & Johnson (NYSE:JNJ) by 0.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 147,735 shares of the company’s stock after selling 995 shares during the period. Johnson & Johnson makes up 2.9% of Private Asset Management Inc.’s investment portfolio, making the stock its 6th largest position. Private Asset Management Inc.’s holdings in Johnson & Johnson were worth $17,452,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Ropes Wealth Advisors LLC raised its stake in shares of Johnson & Johnson by 8.0% in the first quarter. Ropes Wealth Advisors LLC now owns 55,976 shares of the company’s stock worth $6,057,000 after buying an additional 4,161 shares during the period. A.R. Schmeidler & Co. Inc. raised its stake in shares of Johnson & Johnson by 2.9% in the first quarter. A.R. Schmeidler & Co. Inc. now owns 33,270 shares of the company’s stock worth $3,600,000 after buying an additional 953 shares during the period. Institutional & Family Asset Management LLC raised its stake in shares of Johnson & Johnson by 2.2% in the first quarter. Institutional & Family Asset Management LLC now owns 30,029 shares of the company’s stock worth $3,085,000 after buying an additional 640 shares during the period. Berkeley Capital Partners LLC raised its stake in shares of Johnson & Johnson by 5.9% in the first quarter. Berkeley Capital Partners LLC now owns 8,449 shares of the company’s stock worth $914,000 after buying an additional 471 shares during the period. Finally, Bessemer Group Inc. raised its stake in shares of Johnson & Johnson by 77.1% in the first quarter. Bessemer Group Inc. now owns 748,552 shares of the company’s stock worth $80,994,000 after buying an additional 325,913 shares during the period. Institutional investors and hedge funds own 64.13% of the company’s stock.

Shares of Johnson & Johnson (NYSE:JNJ) traded down 0.88% during midday trading on Monday, hitting $113.12. 4,765,296 shares of the company traded hands. Johnson & Johnson has a 12-month low of $94.28 and a 12-month high of $126.07. The stock has a market capitalization of $307.75 billion, a P/E ratio of 19.86 and a beta of 0.75. The stock’s 50-day moving average is $116.14 and its 200 day moving average is $118.35.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, October 18th. The company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.02. The firm earned $17.80 billion during the quarter, compared to analysts’ expectations of $17.71 billion. Johnson & Johnson had a net margin of 22.03% and a return on equity of 25.30%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.49 EPS. On average, analysts expect that Johnson & Johnson will post $6.72 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Tuesday, November 22nd will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.80%. The ex-dividend date is Friday, November 18th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $0.29. Johnson & Johnson’s dividend payout ratio (DPR) is presently 56.64%.

A number of equities research analysts recently weighed in on the stock. Bank of America Corp. reaffirmed a “hold” rating and set a $126.00 price objective on shares of Johnson & Johnson in a research report on Monday. RBC Capital Markets set a $133.00 price objective on shares of Johnson & Johnson and gave the company a “buy” rating in a research report on Wednesday, November 9th. Vetr downgraded shares of Johnson & Johnson from a “buy” rating to a “hold” rating and set a $117.54 price objective for the company. in a research report on Monday, November 7th. Societe Generale reaffirmed a “hold” rating and set a $116.00 price objective on shares of Johnson & Johnson in a research report on Sunday, October 23rd. Finally, Argus reaffirmed a “buy” rating and set a $145.00 price objective on shares of Johnson & Johnson in a research report on Friday, October 21st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $121.02.

In related news, Director Charles Prince acquired 875 shares of the stock in a transaction on Friday, October 21st. The stock was purchased at an average price of $114.11 per share, for a total transaction of $99,846.25. Following the transaction, the director now owns 26,520 shares of the company’s stock, valued at approximately $3,026,197.20. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.11% of the stock is currently owned by company insiders.

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. The Company’s segments include Consumer, Pharmaceutical and Medical Devices. The Consumer segment includes a range of products used in the baby care, oral care, skin care, over-the-counter pharmaceutical, women’s health and wound care markets.

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