Granite Investment Advisors LLC decreased its position in shares of Johnson & Johnson (NYSE:JNJ) by 2.9% during the third quarter, Holdings Channel reports. The institutional investor owned 131,802 shares of the company’s stock after selling 3,912 shares during the period. Johnson & Johnson comprises 3.1% of Granite Investment Advisors LLC’s investment portfolio, making the stock its 4th largest position. Granite Investment Advisors LLC’s holdings in Johnson & Johnson were worth $17,136,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of JNJ. OLD Point Trust & Financial Services N A lifted its position in Johnson & Johnson by 2.2% during the second quarter. OLD Point Trust & Financial Services N A now owns 61,326 shares of the company’s stock valued at $8,113,000 after purchasing an additional 1,321 shares during the period. Welch & Forbes LLC lifted its position in Johnson & Johnson by 0.9% during the second quarter. Welch & Forbes LLC now owns 718,331 shares of the company’s stock valued at $95,028,000 after purchasing an additional 6,730 shares during the period. Janney Montgomery Scott LLC lifted its position in Johnson & Johnson by 0.5% during the second quarter. Janney Montgomery Scott LLC now owns 771,868 shares of the company’s stock valued at $102,110,000 after purchasing an additional 3,533 shares during the period. Oliver Luxxe Assets LLC lifted its position in Johnson & Johnson by 12.7% during the second quarter. Oliver Luxxe Assets LLC now owns 17,538 shares of the company’s stock valued at $2,320,000 after purchasing an additional 1,972 shares during the period. Finally, Sitrin Capital Management LLC lifted its position in Johnson & Johnson by 1.6% during the second quarter. Sitrin Capital Management LLC now owns 48,986 shares of the company’s stock valued at $6,480,000 after purchasing an additional 792 shares during the period. Hedge funds and other institutional investors own 65.70% of the company’s stock.

JNJ has been the topic of a number of research analyst reports. Cowen restated an “outperform” rating and set a $155.00 price objective (up previously from $147.00) on shares of Johnson & Johnson in a research report on Wednesday, October 18th. Jefferies Group increased their price objective on shares of Johnson & Johnson from $157.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, October 16th. Zacks Investment Research upgraded shares of Johnson & Johnson from a “sell” rating to a “hold” rating in a research report on Wednesday, October 4th. Credit Suisse Group set a $154.00 price objective on shares of Johnson & Johnson and gave the company an “outperform” rating in a research report on Thursday, October 19th. Finally, Barclays increased their price objective on shares of Johnson & Johnson from $140.00 to $148.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 18th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $145.52.

Shares of Johnson & Johnson (NYSE JNJ) opened at $144.14 on Wednesday. The company has a market cap of $387,230.00, a price-to-earnings ratio of 25.02, a PEG ratio of 2.67 and a beta of 0.80. Johnson & Johnson has a 52-week low of $110.76 and a 52-week high of $145.68. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.32.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, October 17th. The company reported $1.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.80 by $0.10. The firm had revenue of $19.65 billion for the quarter, compared to the consensus estimate of $19.29 billion. Johnson & Johnson had a net margin of 21.28% and a return on equity of 27.38%. The company’s revenue was up 10.3% on a year-over-year basis. During the same period last year, the firm earned $1.68 EPS. analysts anticipate that Johnson & Johnson will post 7.28 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 13th. Stockholders of record on Tuesday, February 27th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, February 26th. This represents a $3.36 annualized dividend and a dividend yield of 2.33%. Johnson & Johnson’s payout ratio is 58.33%.

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Johnson & Johnson Company Profile

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. It operates through three segments: Consumer, Pharmaceutical and Medical Devices. Its primary focus is products related to human health and well-being.

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

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