Masso Torrence Wealth Management Inc. Reduces Stock Position in Johnson & Johnson (NYSE:JNJ)

Masso Torrence Wealth Management Inc. lessened its stake in shares of Johnson & Johnson (NYSE:JNJ) by 1.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,972 shares of the company’s stock after selling 81 shares during the quarter. Masso Torrence Wealth Management Inc.’s holdings in Johnson & Johnson were worth $806,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Summit Wealth Partners LLC increased its position in Johnson & Johnson by 0.6% in the 2nd quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company’s stock worth $1,463,000 after purchasing an additional 61 shares during the last quarter. Powers Advisory Group LLC increased its position in Johnson & Johnson by 0.6% in the 3rd quarter. Powers Advisory Group LLC now owns 9,489 shares of the company’s stock worth $1,538,000 after purchasing an additional 61 shares during the last quarter. Citizens & Northern Corp increased its position in Johnson & Johnson by 3.5% in the 2nd quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock worth $275,000 after purchasing an additional 63 shares during the last quarter. Eagle Wealth Strategies LLC increased its holdings in shares of Johnson & Johnson by 2.8% during the 3rd quarter. Eagle Wealth Strategies LLC now owns 2,294 shares of the company’s stock valued at $372,000 after acquiring an additional 63 shares during the last quarter. Finally, Epic Trust Investment Advisors LLC raised its stake in shares of Johnson & Johnson by 3.6% in the 2nd quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock valued at $268,000 after acquiring an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $160.88 on Monday. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. The firm has a market capitalization of $387.19 billion, a PE ratio of 10.03, a PEG ratio of 2.90 and a beta of 0.52. The business’s 50 day moving average is $163.41 and its 200-day moving average is $155.10. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.46% and a net margin of 19.14%. The company had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. During the same quarter last year, the firm earned $2.66 EPS. Johnson & Johnson’s revenue for the quarter was up 5.2% compared to the same quarter last year. Sell-side analysts predict that Johnson & Johnson will post 9.94 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s payout ratio is presently 30.92%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Royal Bank of Canada raised their price objective on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Daiwa America downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group cut their price objective on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $175.93.

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is owned by insiders.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.