Elmwood Wealth Management Inc. Cuts Stake in Johnson & Johnson (NYSE:JNJ)

Elmwood Wealth Management Inc. decreased its stake in Johnson & Johnson (NYSE:JNJ) by 52.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,552 shares of the company’s stock after selling 3,972 shares during the period. Elmwood Wealth Management Inc.’s holdings in Johnson & Johnson were worth $557,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Hibernia Wealth Partners LLC purchased a new stake in shares of Johnson & Johnson during the 3rd quarter valued at approximately $27,000. Tower View Wealth Management LLC raised its holdings in Johnson & Johnson by 183.3% during the 3rd quarter. Tower View Wealth Management LLC now owns 255 shares of the company’s stock valued at $40,000 after acquiring an additional 165 shares during the period. Keener Financial Planning LLC purchased a new stake in shares of Johnson & Johnson during the fourth quarter worth $40,000. Creative Capital Management Investments LLC boosted its holdings in shares of Johnson & Johnson by 43.0% in the third quarter. Creative Capital Management Investments LLC now owns 286 shares of the company’s stock worth $45,000 after acquiring an additional 86 shares during the period. Finally, Altshuler Shaham Ltd grew its position in shares of Johnson & Johnson by 37.8% in the third quarter. Altshuler Shaham Ltd now owns 317 shares of the company’s stock valued at $49,000 after purchasing an additional 87 shares in the last quarter. Institutional investors own 69.55% of the company’s stock.

Insider Buying and Selling at Johnson & Johnson

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

Analyst Upgrades and Downgrades

Several research analysts have commented on JNJ shares. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and raised their target price for the stock from $169.00 to $170.00 in a research note on Thursday. 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 research note on Wednesday. Bank of America lowered their target price on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday. Morgan Stanley reduced their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research report on Monday, April 15th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $175.86.

Johnson & Johnson Price Performance

JNJ opened at $147.91 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 stock has a market capitalization of $356.43 billion, a P/E ratio of 9.22, a PEG ratio of 2.40 and a beta of 0.53. The stock has a 50-day moving average price of $156.15 and a 200-day moving average price of $155.63. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $175.97.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.07. The business had revenue of $21.38 billion during the quarter, compared to analyst estimates of $21.39 billion. Johnson & Johnson had a return on equity of 36.43% and a net margin of 45.26%. Johnson & Johnson’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.68 earnings per share. 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. Shareholders of record on Tuesday, May 21st will be paid a $1.24 dividend. The ex-dividend date of this dividend is Monday, May 20th. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a yield of 3.35%. Johnson & Johnson’s payout ratio is currently 29.68%.

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.