Cary Street Partners Investment Advisory LLC Cuts Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Cary Street Partners Investment Advisory LLC reduced its position in Johnson & Johnson (NYSE:JNJ) by 81.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 21,219 shares of the company’s stock after selling 91,894 shares during the period. Johnson & Johnson makes up about 1.1% of Cary Street Partners Investment Advisory LLC’s investment portfolio, making the stock its 22nd largest position. Cary Street Partners Investment Advisory LLC’s holdings in Johnson & Johnson were worth $3,630,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in JNJ. Keener Financial Planning LLC purchased a new stake in shares of Johnson & Johnson during the 4th quarter valued at about $40,000. Tower View Wealth Management LLC lifted its position in Johnson & Johnson by 183.3% during the third quarter. Tower View Wealth Management LLC now owns 255 shares of the company’s stock valued at $40,000 after purchasing an additional 165 shares during the period. WFA Asset Management Corp boosted its holdings in Johnson & Johnson by 61.4% in the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after purchasing an additional 97 shares during the last quarter. Creative Capital Management Investments LLC grew its position in Johnson & Johnson by 43.0% in the 3rd quarter. Creative Capital Management Investments LLC now owns 286 shares of the company’s stock worth $45,000 after purchasing an additional 86 shares during the period. Finally, Disciplined Equity Management Inc. purchased a new stake in Johnson & Johnson during the 4th quarter valued at $45,000. 69.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on JNJ shares. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Monday, April 15th. Morgan Stanley dropped their target price on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. Bank of America reduced their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Royal Bank of Canada dropped their price objective on shares of Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. Finally, HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and upped their target price for the company from $169.00 to $170.00 in a report on Thursday, April 18th. Seven 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $175.86.

Johnson & Johnson Stock Down 0.4 %

JNJ opened at $149.27 on Friday. The stock has a market cap of $359.25 billion, a price-to-earnings ratio of 9.31, a price-to-earnings-growth ratio of 2.46 and a beta of 0.55. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 1.17. The firm’s fifty day moving average is $154.19 and its 200 day moving average is $155.02. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.97.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The business had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.39 billion. During the same period in the previous year, the business earned $2.68 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. On average, sell-side analysts forecast 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. This represents a $4.96 annualized dividend and a yield of 3.32%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date is Monday, May 20th. Johnson & Johnson’s dividend payout ratio is presently 29.68%.

Insider Activity

In related news, 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 transaction 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Jennifer L. Taubert sold 59,397 shares of Johnson & Johnson stock in a transaction dated 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 sale, 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 Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder & Johnson Johnson sold 3,725 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the transaction, the insider now directly owns 4,099,575 shares of the company’s stock, valued at $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 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.