Granite Bay Wealth Management LLC Sells 12,854 Shares of Johnson & Johnson (NYSE:JNJ)

Granite Bay Wealth Management LLC reduced its stake in Johnson & Johnson (NYSE:JNJ) by 8.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 145,877 shares of the company’s stock after selling 12,854 shares during the period. Granite Bay Wealth Management LLC’s holdings in Johnson & Johnson were worth $22,380,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of JNJ. DORCHESTER WEALTH MANAGEMENT Co increased its stake in Johnson & Johnson by 8.6% in the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 67,618 shares of the company’s stock worth $14,975,000 after purchasing an additional 5,327 shares during the period. Cantor Fitzgerald Investment Advisor L.P increased its stake in shares of Johnson & Johnson by 88.9% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 175,194 shares of the company’s stock valued at $31,049,000 after buying an additional 82,429 shares during the period. AMI Investment Management Inc. increased its stake in shares of Johnson & Johnson by 8.8% during the first quarter. AMI Investment Management Inc. now owns 18,305 shares of the company’s stock valued at $3,244,000 after buying an additional 1,475 shares during the period. Equitable Holdings Inc. increased its stake in shares of Johnson & Johnson by 4.9% during the first quarter. Equitable Holdings Inc. now owns 45,673 shares of the company’s stock valued at $8,095,000 after buying an additional 2,119 shares during the period. Finally, USS Investment Management Ltd increased its stake in shares of Johnson & Johnson by 2.4% during the first quarter. USS Investment Management Ltd now owns 860,371 shares of the company’s stock valued at $152,488,000 after buying an additional 20,528 shares during the period. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research note on Monday, April 15th. Royal Bank of Canada reduced their target price on Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and upped their price target for the stock from $169.00 to $170.00 in a research note on Thursday. Finally, Raymond James upped their price target on Johnson & Johnson from $172.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 3rd. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $175.86.

Johnson & Johnson Trading Up 1.5 %

Johnson & Johnson stock opened at $147.93 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.38. The business’s fifty day simple moving average is $156.15 and its two-hundred day simple moving average is $155.63. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97. The company has a market capitalization of $356.48 billion, a price-to-earnings ratio of 9.22, a price-to-earnings-growth ratio of 2.39 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.64 by $0.07. The business had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.39 billion. Johnson & Johnson had a return on equity of 36.43% and a net margin of 45.26%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.68 earnings per share. As a group, equities analysts predict that Johnson & Johnson will post 10.65 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be issued a dividend of $1.24 per share. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Monday, May 20th. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Insider Activity

In other news, EVP Jennifer L. Taubert sold 59,397 shares of the company’s stock in a transaction on 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 directly owns 141,416 shares of the company’s stock, valued at $22,099,078.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related 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 completion of the sale, the insider now owns 4,099,575 shares in the company, valued at $105,810,030.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jennifer L. Taubert sold 59,397 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $156.27, for a total value of $9,281,969.19. Following the sale, 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. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson 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.