Pinnacle Financial Partners Inc. Grows Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Pinnacle Financial Partners Inc. boosted its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 106,221 shares of the company’s stock after purchasing an additional 480 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in Johnson & Johnson were worth $16,691,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Newfound Research LLC purchased a new stake in Johnson & Johnson during the third quarter valued at $28,000. Essex Investment Management Co. LLC purchased a new stake in Johnson & Johnson during the third quarter valued at $37,000. Crewe Advisors LLC raised its stake in Johnson & Johnson by 909.1% during the third quarter. Crewe Advisors LLC now owns 333 shares of the company’s stock valued at $50,000 after purchasing an additional 300 shares in the last quarter. Dimension Capital Management LLC purchased a new stake in Johnson & Johnson during the third quarter valued at $53,000. Finally, IMA Wealth Inc. raised its stake in shares of Johnson & Johnson by 26.8% in the third quarter. IMA Wealth Inc. now owns 478 shares of the company’s stock valued at $71,000 after acquiring an additional 101 shares during the period. 61.26% of the stock is currently owned by institutional investors.

JNJ stock opened at $157.89 on Thursday. The company has a market capitalization of $415.65 billion, a PE ratio of 24.83, a P/E/G ratio of 3.30 and a beta of 0.68. Johnson & Johnson has a 12 month low of $109.16 and a 12 month high of $161.32. The firm’s 50-day moving average is $152.86 and its 200 day moving average is $148.31. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.48 and a quick ratio of 1.24.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Sunday, October 18th. The company reported $2.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.22. Johnson & Johnson had a net margin of 21.01% and a return on equity of 34.64%. The company had revenue of $21.08 billion for the quarter, compared to analysts’ expectations of $20.15 billion. During the same period in the prior year, the business earned $2.12 EPS. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. Sell-side analysts forecast that Johnson & Johnson will post 7.99 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 9th. Shareholders of record on Tuesday, February 23rd will be issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 2.56%. The ex-dividend date is Monday, February 22nd. Johnson & Johnson’s payout ratio is 46.54%.

In other Johnson & Johnson news, COO Michael E. Sneed sold 54,662 shares of the stock in a transaction dated Wednesday, December 9th. The shares were sold at an average price of $152.93, for a total transaction of $8,359,459.66. Following the transaction, the chief operating officer now directly owns 110,741 shares in the company, valued at approximately $16,935,621.13. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.27% of the stock is owned by corporate insiders.

JNJ has been the topic of several recent analyst reports. Raymond James reissued a “buy” rating on shares of Johnson & Johnson in a research note on Friday, November 20th. Credit Suisse Group increased their target price on shares of Johnson & Johnson from $163.00 to $168.00 and gave the company an “outperform” rating in a research note on Wednesday, October 14th. Cantor Fitzgerald increased their target price on shares of Johnson & Johnson from $168.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday, October 14th. Morgan Stanley increased their target price on shares of Johnson & Johnson from $170.00 to $178.00 and gave the company an “overweight” rating in a research note on Tuesday, December 15th. Finally, BidaskClub raised shares of Johnson & Johnson from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $165.50.

Johnson & Johnson Profile

Johnson & Johnson researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DR.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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