Johnson & Johnson (NYSE:JNJ) Stock Position Lowered by Red Tortoise LLC

Red Tortoise LLC trimmed its position in shares of Johnson & Johnson (NYSE:JNJ) by 63.8% during the 4th quarter, HoldingsChannel reports. The firm owned 455 shares of the company’s stock after selling 802 shares during the quarter. Red Tortoise LLC’s holdings in Johnson & Johnson were worth $66,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. IFS Advisors LLC lifted its stake in Johnson & Johnson by 138.9% in the 4th quarter. IFS Advisors LLC now owns 172 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares in the last quarter. Highline Wealth Partners LLC acquired a new position in shares of Johnson & Johnson in the 3rd quarter valued at about $31,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Johnson & Johnson in the third quarter worth approximately $35,000. Mowery & Schoenfeld Wealth Management LLC grew its position in Johnson & Johnson by 58.7% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after purchasing an additional 91 shares in the last quarter. Finally, Activest Wealth Management acquired a new position in Johnson & Johnson in the 3rd quarter valued at approximately $40,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

JNJ has been the topic of several research analyst reports. Raymond James lowered their price target on shares of Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Bank of America cut their price target on Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating for the company in a research note on Thursday, January 23rd. Stifel Nicolaus decreased their price objective on shares of Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Guggenheim boosted their target price on Johnson & Johnson from $162.00 to $166.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Argus upgraded shares of Johnson & Johnson to a “strong-buy” rating in a research note on Friday, January 24th. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $170.67.

Insider Buying and Selling at Johnson & Johnson

In related news, Director Mark A. Weinberger acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the transaction, 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 position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Price Performance

Shares of JNJ stock opened at $154.68 on Thursday. The company has a market capitalization of $372.41 billion, a P/E ratio of 23.26, a P/E/G ratio of 2.44 and a beta of 0.52. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $168.85. The stock has a 50 day moving average of $147.51 and a two-hundred day moving average of $156.09. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.05. Johnson & Johnson had a return on equity of 34.35% and a net margin of 18.20%. The company had revenue of $22.52 billion for the quarter, compared to analyst estimates of $22.44 billion. During the same period in the prior year, the company posted $2.29 EPS. The company’s revenue was up 5.3% compared to the same quarter last year. As a group, equities analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a yield of 3.21%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 74.59%.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.