Saybrook Capital NC Sells 9,785 Shares of Johnson & Johnson (NYSE:JNJ)

Saybrook Capital NC lowered its stake in Johnson & Johnson (NYSE:JNJ) by 15.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 53,100 shares of the company’s stock after selling 9,785 shares during the period. Johnson & Johnson comprises 2.3% of Saybrook Capital NC’s holdings, making the stock its 15th largest position. Saybrook Capital NC’s holdings in Johnson & Johnson were worth $8,323,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Moneta Group Investment Advisors LLC lifted its position in Johnson & Johnson by 90,144.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 54,386,720 shares of the company’s stock valued at $9,607,414,000 after purchasing an additional 54,326,454 shares during the last quarter. Morgan Stanley increased its stake in shares of Johnson & Johnson by 12.0% during the fourth quarter. Morgan Stanley now owns 42,224,521 shares of the company’s stock valued at $7,458,962,000 after buying an additional 4,521,062 shares during the period. Norges Bank purchased a new position in shares of Johnson & Johnson during the fourth quarter valued at approximately $4,609,399,000. Charles Schwab Investment Management Inc. increased its stake in shares of Johnson & Johnson by 1.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 17,189,229 shares of the company’s stock valued at $3,046,449,000 after buying an additional 328,297 shares during the period. Finally, Barclays PLC increased its stake in shares of Johnson & Johnson by 61.0% during the second quarter. Barclays PLC now owns 11,287,765 shares of the company’s stock valued at $1,868,351,000 after buying an additional 4,278,512 shares during the period. Institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on JNJ. Bank of America reduced their target price on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Royal Bank of Canada reduced their price target on Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. 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. Finally, Morgan Stanley reduced their price target on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.86.

Johnson & Johnson Trading Up 1.5 %

NYSE JNJ opened at $147.91 on Monday. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97. The stock has a market cap of $356.43 billion, a P/E ratio of 9.22, a P/E/G ratio of 2.44 and a beta of 0.53. The stock’s fifty day moving average price is $156.15 and its 200-day moving average price is $155.63. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.38.

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

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be given a dividend of $1.24 per share. The ex-dividend date is Monday, May 20th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a dividend yield of 3.35%. Johnson & Johnson’s dividend payout ratio (DPR) is 29.68%.

Insider Activity at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 59,397 shares of the 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 sale, the executive vice president now directly owns 141,416 shares of the company’s stock, valued at $22,099,078.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder & Johnson Johnson sold 3,725 shares of the 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 sale, the insider now directly owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jennifer L. Taubert sold 59,397 shares of the 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 directly 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 insiders.

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.