Fruth Investment Management cut its stake in Johnson & Johnson (NYSE:JNJ) by 1.1% during the third quarter, HoldingsChannel reports. The fund owned 28,823 shares of the company’s stock after selling 325 shares during the quarter. Johnson & Johnson comprises approximately 1.5% of Fruth Investment Management’s holdings, making the stock its 13th biggest position. Fruth Investment Management’s holdings in Johnson & Johnson were worth $3,729,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Zions Bancorporation N.A. increased its position in Johnson & Johnson by 0.4% during the second quarter. Zions Bancorporation N.A. now owns 20,173 shares of the company’s stock worth $2,810,000 after buying an additional 73 shares during the last quarter. Vishria Bird Financial Group LLC increased its position in Johnson & Johnson by 3.0% during the second quarter. Vishria Bird Financial Group LLC now owns 2,736 shares of the company’s stock worth $381,000 after buying an additional 80 shares during the last quarter. Deane Retirement Strategies Inc. increased its position in Johnson & Johnson by 0.7% during the second quarter. Deane Retirement Strategies Inc. now owns 12,379 shares of the company’s stock worth $1,724,000 after buying an additional 85 shares during the last quarter. Evanson Asset Management LLC grew its position in shares of Johnson & Johnson by 0.5% in the second quarter. Evanson Asset Management LLC now owns 17,870 shares of the company’s stock valued at $2,489,000 after purchasing an additional 85 shares during the last quarter. Finally, Gilman Hill Asset Management LLC grew its position in shares of Johnson & Johnson by 1.1% in the second quarter. Gilman Hill Asset Management LLC now owns 8,137 shares of the company’s stock valued at $1,133,000 after purchasing an additional 85 shares during the last quarter. 72.01% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:JNJ traded down $2.62 during midday trading on Wednesday, hitting $129.22. The company’s stock had a trading volume of 7,787,365 shares, compared to its average volume of 7,077,218. The stock has a market capitalization of $352.75 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 2.26 and a beta of 0.69. The stock’s 50 day simple moving average is $130.02 and its 200 day simple moving average is $135.08. Johnson & Johnson has a fifty-two week low of $121.00 and a fifty-two week high of $148.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.04 and a current ratio of 1.33.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, July 16th. The company reported $2.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.42 by $0.16. Johnson & Johnson had a net margin of 20.08% and a return on equity of 38.63%. The business had revenue of $20.56 billion during the quarter, compared to analysts’ expectations of $20.39 billion. During the same quarter last year, the company earned $2.10 earnings per share. The firm’s revenue was down 1.3% on a year-over-year basis. As a group, analysts anticipate that Johnson & Johnson will post 8.6 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were paid a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.94%. The ex-dividend date was Monday, August 26th. Johnson & Johnson’s payout ratio is presently 46.45%.

Several equities research analysts have recently issued reports on JNJ shares. Barclays started coverage on Johnson & Johnson in a research report on Friday, June 21st. They issued a “hold” rating and a $140.00 price target on the stock. Bank of America reaffirmed a “hold” rating and issued a $150.00 price target on shares of Johnson & Johnson in a research report on Tuesday, July 16th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $145.00 price target on shares of Johnson & Johnson in a research report on Tuesday, August 27th. Zacks Investment Research downgraded Johnson & Johnson from a “buy” rating to a “hold” rating and set a $139.00 price target on the stock. in a research report on Thursday, July 18th. Finally, Credit Suisse Group set a $156.00 price target on Johnson & Johnson and gave the company a “buy” rating in a research report on Tuesday, August 27th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $150.60.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, 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, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.

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

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