Johnson & Johnson (NYSE:JNJ) Shares Sold by Dock Street Asset Management Inc.

Dock Street Asset Management Inc. lessened its stake in Johnson & Johnson (NYSE:JNJ) by 23.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,502 shares of the company’s stock after selling 774 shares during the period. Dock Street Asset Management Inc.’s holdings in Johnson & Johnson were worth $392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Federated Hermes Inc. boosted its stake in Johnson & Johnson by 32.6% in the fourth quarter. Federated Hermes Inc. now owns 827,260 shares of the company’s stock valued at $129,665,000 after acquiring an additional 203,378 shares in the last quarter. Peterson Wealth Services boosted its stake in shares of Johnson & Johnson by 9.7% during the fourth quarter. Peterson Wealth Services now owns 25,773 shares of the company’s stock worth $4,040,000 after buying an additional 2,285 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Johnson & Johnson by 2.4% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 98,882 shares of the company’s stock worth $15,499,000 after buying an additional 2,345 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Johnson & Johnson by 5.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 297,850 shares of the company’s stock worth $46,685,000 after buying an additional 15,490 shares during the period. Finally, River Road Asset Management LLC acquired a new stake in shares of Johnson & Johnson during the fourth quarter worth about $6,093,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analyst Upgrades and Downgrades

JNJ has been the subject of several recent research reports. Raymond James increased their target price on shares of Johnson & Johnson from $172.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 3rd. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Monday, April 15th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 6th. Bank of America cut their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Finally, Morgan Stanley cut 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 report on Wednesday, April 17th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus price target of $175.86.

Insider Activity

In related news, EVP Jennifer L. Taubert sold 59,397 shares of the firm’s stock in a transaction that occurred on 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 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 document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Jennifer L. Taubert sold 59,397 shares of the firm’s stock in a transaction that occurred on 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 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 document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder & Johnson Johnson sold 3,725 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 4,099,575 shares in the company, 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.

Johnson & Johnson Stock Up 0.3 %

JNJ stock opened at $149.56 on Wednesday. The company’s 50 day simple moving average is $155.83 and its 200-day simple moving average is $155.51. The firm has a market capitalization of $360.41 billion, a PE ratio of 9.32, a P/E/G ratio of 2.44 and a beta of 0.53. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.16 and a quick ratio of 0.91.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.64 by $0.07. The business had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.43%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $2.68 earnings per share. Equities analysts expect 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 given a $1.24 dividend. The ex-dividend date of this dividend is Monday, May 20th. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a dividend yield of 3.32%. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

About Johnson & Johnson

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.