NorthCrest Asset Manangement LLC Has $37.73 Million Stock Holdings in Johnson & Johnson (NYSE:JNJ)

NorthCrest Asset Manangement LLC boosted its stake in Johnson & Johnson (NYSE:JNJ) by 1.8% during the third quarter, Holdings Channel reports. The institutional investor owned 232,819 shares of the company’s stock after buying an additional 4,130 shares during the period. Johnson & Johnson comprises approximately 1.1% of NorthCrest Asset Manangement LLC’s investment portfolio, making the stock its 15th biggest position. NorthCrest Asset Manangement LLC’s holdings in Johnson & Johnson were worth $37,731,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Meridian Financial Partners LLC acquired a new position in shares of Johnson & Johnson in the second quarter valued at about $1,626,000. Summit Financial Wealth Advisors LLC grew its position in shares of Johnson & Johnson by 26.3% during the 1st quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock worth $853,000 after purchasing an additional 1,122 shares in the last quarter. Franklin Parlapiano Turner & Welch LLC raised its position in shares of Johnson & Johnson by 0.7% in the first quarter. Franklin Parlapiano Turner & Welch LLC now owns 47,186 shares of the company’s stock valued at $7,464,000 after buying an additional 325 shares in the last quarter. NTV Asset Management LLC boosted its stake in shares of Johnson & Johnson by 1.6% in the first quarter. NTV Asset Management LLC now owns 36,000 shares of the company’s stock valued at $5,695,000 after buying an additional 565 shares during the period. Finally, Cooper Haims Advisors LLC grew its position in Johnson & Johnson by 6.4% during the first quarter. Cooper Haims Advisors LLC now owns 3,358 shares of the company’s stock worth $531,000 after buying an additional 201 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on JNJ shares. The Goldman Sachs Group cut their target price on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Sanford C. Bernstein increased their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Daiwa Capital Markets cut shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $160.00 to $150.00 in a research report on Tuesday, July 23rd. TD Cowen reduced their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Finally, Royal Bank of Canada boosted their price objective on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $175.93.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $160.88 on Monday. The stock has a 50-day moving average price of $163.41 and a two-hundred day moving average price of $155.10. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85. The company has a market capitalization of $387.19 billion, a PE ratio of 10.03, a P/E/G ratio of 2.90 and a beta of 0.52. 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 issued its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.46%. The business had revenue of $22.47 billion during the quarter, compared to analyst estimates of $22.17 billion. During the same quarter last year, the business earned $2.66 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. Analysts expect that Johnson & Johnson will post 9.94 EPS for the current year.

Johnson & Johnson Dividend Announcement

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

Insider Buying and Selling

In other news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the sale, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.16% of the stock is owned by corporate 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.