Pinnacle Bancorp Inc. Sells 70 Shares of Johnson & Johnson (NYSE:JNJ)

Pinnacle Bancorp Inc. cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 0.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,653 shares of the company’s stock after selling 70 shares during the period. Johnson & Johnson comprises approximately 0.8% of Pinnacle Bancorp Inc.’s holdings, making the stock its 26th largest position. Pinnacle Bancorp Inc.’s holdings in Johnson & Johnson were worth $2,408,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of JNJ. Highline Wealth Partners LLC bought a new stake in Johnson & Johnson during the third quarter valued at approximately $31,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Johnson & Johnson during the 3rd quarter valued at $35,000. Mowery & Schoenfeld Wealth Management LLC increased its stake in shares of Johnson & Johnson by 58.7% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after purchasing an additional 91 shares in the last quarter. Activest Wealth Management purchased a new position in Johnson & Johnson during the third quarter valued at $40,000. Finally, Morton Brown Family Wealth LLC grew its holdings in Johnson & Johnson by 400.0% during the third quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock valued at $41,000 after purchasing an additional 200 shares during the period. 69.55% of the stock is owned by institutional investors.

Insider Activity at Johnson & Johnson

In related news, Director Mark A. Weinberger acquired 1,000 shares of the stock in a transaction dated Thursday, December 12th. The stock was acquired at an average cost of $147.22 per share, with a total value of $147,220.00. Following the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $147,220. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.16% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on JNJ shares. Wolfe Research initiated coverage on Johnson & Johnson in a research report on Friday, November 15th. They set an “outperform” rating and a $190.00 price objective on the stock. Royal Bank of Canada increased their price objective on shares of Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Guggenheim lifted their target price on shares of Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Wells Fargo & Company increased their price target on Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley upped their price objective on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.71.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $147.78 on Friday. The company has a market cap of $355.79 billion, a price-to-earnings ratio of 21.39, a PEG ratio of 2.30 and a beta of 0.51. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $168.85. The stock’s 50 day simple moving average is $148.86 and its two-hundred day simple moving average is $156.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results 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 35.45%. The company had revenue of $22.47 billion for the quarter, compared to the consensus estimate of $22.17 billion. During the same quarter in the prior year, the firm earned $2.66 earnings per share. Johnson & Johnson’s revenue was up 5.2% on a year-over-year basis. As a group, equities analysts anticipate that Johnson & Johnson will post 9.94 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 3.36%. The ex-dividend date is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio is 71.78%.

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.