Adell Harriman & Carpenter Inc. Sells 7,162 Shares of Johnson & Johnson (NYSE:JNJ)

Adell Harriman & Carpenter Inc. lowered its position in Johnson & Johnson (NYSE:JNJ) by 8.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 80,129 shares of the company’s stock after selling 7,162 shares during the period. Johnson & Johnson accounts for approximately 1.2% of Adell Harriman & Carpenter Inc.’s portfolio, making the stock its 26th largest position. Adell Harriman & Carpenter Inc.’s holdings in Johnson & Johnson were worth $12,559,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. International Assets Investment Management LLC grew its holdings in Johnson & Johnson by 7,875.8% in the fourth quarter. International Assets Investment Management LLC now owns 2,090,384 shares of the company’s stock worth $327,647,000 after purchasing an additional 2,064,175 shares during the period. LSV Asset Management grew its stake in shares of Johnson & Johnson by 89.9% in the 3rd quarter. LSV Asset Management now owns 2,251,770 shares of the company’s stock valued at $350,713,000 after buying an additional 1,065,880 shares during the period. abrdn plc increased its position in Johnson & Johnson by 104.1% in the 4th quarter. abrdn plc now owns 2,014,743 shares of the company’s stock valued at $315,791,000 after buying an additional 1,027,441 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its holdings in Johnson & Johnson by 2,264.8% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 822,725 shares of the company’s stock worth $128,139,000 after acquiring an additional 787,934 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in Johnson & Johnson by 22.2% in the third quarter. Envestnet Asset Management Inc. now owns 3,957,429 shares of the company’s stock valued at $616,370,000 after acquiring an additional 719,472 shares during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Trading Down 0.4 %

Shares of Johnson & Johnson stock opened at $149.27 on Friday. The stock has a fifty day moving average price of $154.44 and a 200-day moving average price of $155.08. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.91. The firm has a market cap of $359.23 billion, a PE ratio of 9.31, a P/E/G ratio of 2.47 and a beta of 0.55. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $175.97.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. The business had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.68 earnings per share. Equities research analysts anticipate that Johnson & Johnson will post 10.65 EPS for the current year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be paid a $1.24 dividend. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date is Monday, May 20th. This represents a $4.96 annualized dividend and a yield of 3.32%. Johnson & Johnson’s dividend payout ratio is presently 29.68%.

Insiders Place Their Bets

In other news, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the transaction, the insider now owns 4,099,575 shares of the company’s stock, valued at approximately $105,810,030.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder & Johnson Johnson sold 3,725 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.81, for a total value of $96,142.25. Following the sale, the insider now directly owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jennifer L. Taubert sold 59,397 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the transaction, the executive vice president now owns 141,416 shares of the company’s stock, valued at approximately $22,099,078.32. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on JNJ. Morgan Stanley lowered their target price on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. Royal Bank of Canada reduced their price objective on shares of Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and upped their target price for the stock from $169.00 to $170.00 in a report on Thursday, April 18th. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research note on Monday, April 15th. Finally, StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.86.

Johnson & Johnson Company Profile

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.