Johnson & Johnson (NYSE:JNJ) Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC cut its holdings in Johnson & Johnson (NYSE:JNJ) by 1.9% during the fourth quarter, HoldingsChannel reports. The fund owned 87,269 shares of the company’s stock after selling 1,647 shares during the period. Johnson & Johnson comprises 1.7% of Carret Asset Management LLC’s holdings, making the stock its 8th biggest position. Carret Asset Management LLC’s holdings in Johnson & Johnson were worth $13,679,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Wynn Capital LLC purchased a new position in Johnson & Johnson during the fourth quarter worth about $1,910,000. South Dakota Investment Council lifted its holdings in shares of Johnson & Johnson by 8.1% in the 4th quarter. South Dakota Investment Council now owns 180,203 shares of the company’s stock worth $28,245,000 after acquiring an additional 13,525 shares during the last quarter. NewSquare Capital LLC boosted its position in shares of Johnson & Johnson by 46.7% during the 4th quarter. NewSquare Capital LLC now owns 760 shares of the company’s stock worth $119,000 after purchasing an additional 242 shares during the period. First National Bank Sioux Falls increased its holdings in Johnson & Johnson by 4.0% in the 4th quarter. First National Bank Sioux Falls now owns 5,242 shares of the company’s stock valued at $822,000 after purchasing an additional 200 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new stake in Johnson & Johnson in the fourth quarter valued at approximately $2,800,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on JNJ. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price objective for the company from $169.00 to $170.00 in a research note on Thursday, April 18th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 6th. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research report on Monday, April 15th. Morgan Stanley dropped their price objective 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. Finally, Bank of America reduced their target price on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $175.86.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $146.84 on Tuesday. 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. The firm has a market capitalization of $353.85 billion, a PE ratio of 9.15, a price-to-earnings-growth ratio of 2.41 and a beta of 0.53. The business’s fifty day moving average price is $155.07 and its 200 day moving average price is $155.23.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share 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 analyst estimates of $21.39 billion. Johnson & Johnson had a return on equity of 36.43% and a net margin of 45.26%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the company earned $2.68 EPS. On average, sell-side analysts anticipate that Johnson & Johnson will post 10.65 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.38%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend is Monday, May 20th. Johnson & Johnson’s dividend payout ratio (DPR) is 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 dated Friday, February 16th. The shares were 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 directly owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 transaction, the insider now owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jennifer L. Taubert sold 59,397 shares of Johnson & Johnson stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 141,416 shares in the company, valued at $22,099,078.32. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by corporate insiders.

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.