Johnson & Johnson (NYSE:JNJ) Position Lifted by Pinnacle Financial Partners Inc.

Pinnacle Financial Partners Inc. raised its stake in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 2.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 168,821 shares of the company’s stock after acquiring an additional 4,755 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in Johnson & Johnson were worth $26,167,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Moneta Group Investment Advisors LLC lifted its position in shares of Johnson & Johnson by 90,144.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 54,386,720 shares of the company’s stock worth $9,607,414,000 after buying an additional 54,326,454 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Johnson & Johnson by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 47,958,583 shares of the company’s stock worth $8,456,643,000 after buying an additional 294,671 shares during the last quarter. Morgan Stanley lifted its position in shares of Johnson & Johnson by 12.0% in the 4th quarter. Morgan Stanley now owns 42,224,521 shares of the company’s stock worth $7,458,962,000 after buying an additional 4,521,062 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Johnson & Johnson by 15.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,277,774 shares of the company’s stock worth $5,171,919,000 after buying an additional 3,849,148 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Johnson & Johnson in the 4th quarter worth about $4,609,399,000. 67.57% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Johnson & Johnson news, EVP Kathryn E. Wengel sold 12,465 shares of the firm’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $160.00, for a total value of $1,994,400.00. Following the completion of the transaction, the executive vice president now directly owns 65,934 shares in the company, valued at $10,549,440. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

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A number of analysts recently weighed in on the stock. UBS Group assumed coverage on shares of Johnson & Johnson in a report on Tuesday, March 28th. They issued a “neutral” rating and a $164.00 price objective on the stock. Raymond James dropped their price objective on shares of Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating on the stock in a report on Wednesday, April 19th. Credit Suisse Group increased their price objective on shares of Johnson & Johnson from $168.00 to $170.00 in a report on Friday, May 5th. StockNews.com assumed coverage on shares of Johnson & Johnson in a report on Thursday, May 18th. They issued a “strong-buy” rating on the stock. Finally, TheStreet cut shares of Johnson & Johnson from a “b” rating to a “c+” rating in a report on Friday, May 19th. Seven research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $169.77.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $168.40 on Friday. The firm’s 50 day moving average is $160.19 and its 200-day moving average is $161.55. The stock has a market capitalization of $437.63 billion, a P/E ratio of 35.23, a P/E/G ratio of 2.72 and a beta of 0.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.07 and a quick ratio of 0.85. Johnson & Johnson has a 12-month low of $150.11 and a 12-month high of $181.04.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last announced its quarterly earnings data on Thursday, July 20th. The company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.18. The company had revenue of $25.53 billion for the quarter, compared to analysts’ expectations of $24.63 billion. Johnson & Johnson had a net margin of 13.22% and a return on equity of 36.13%. The business’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.59 EPS. Equities research analysts anticipate that Johnson & Johnson will post 10.65 EPS for the current fiscal year.

Johnson & Johnson Company Profile

(Free Report)

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company’s Consumer Health segment provides skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR. CI:LABO, NEUTROGENA, and OGX brands; baby care products under the JOHNSON’S and AVEENO Baby brands; oral care products under the LISTERINE brand; TYLENOL acetaminophen products; SUDAFED cold, flu, and allergy products; BENADRYL and ZYRTEC allergy products; MOTRIN IB ibuprofen products; NICORETTE smoking cessation products; and PEPCID acid reflux products.