Johnson & Johnson (NYSE:JNJ) Stock Position Lowered by Griffin Asset Management Inc.

Griffin Asset Management Inc. lowered its position in shares of Johnson & Johnson (NYSE:JNJ) by 4.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 83,129 shares of the company’s stock after selling 4,253 shares during the quarter. Johnson & Johnson accounts for approximately 1.4% of Griffin Asset Management Inc.’s investment portfolio, making the stock its 16th largest position. Griffin Asset Management Inc.’s holdings in Johnson & Johnson were worth $12,022,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Powers Advisory Group LLC grew its stake in shares of Johnson & Johnson by 0.6% in the 3rd quarter. Powers Advisory Group LLC now owns 9,489 shares of the company’s stock worth $1,538,000 after purchasing an additional 61 shares during the last quarter. Eagle Wealth Strategies LLC grew its position in Johnson & Johnson by 2.8% in the third quarter. Eagle Wealth Strategies LLC now owns 2,294 shares of the company’s stock worth $372,000 after buying an additional 63 shares during the last quarter. Knuff & Co LLC increased its holdings in shares of Johnson & Johnson by 0.7% in the third quarter. Knuff & Co LLC now owns 9,466 shares of the company’s stock valued at $1,534,000 after buying an additional 64 shares in the last quarter. Perkins Coie Trust Co lifted its position in shares of Johnson & Johnson by 1.8% during the 3rd quarter. Perkins Coie Trust Co now owns 3,705 shares of the company’s stock valued at $600,000 after acquiring an additional 65 shares during the last quarter. Finally, Vertex Planning Partners LLC boosted its stake in shares of Johnson & Johnson by 1.3% during the 3rd quarter. Vertex Planning Partners LLC now owns 5,211 shares of the company’s stock worth $844,000 after acquiring an additional 65 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Leerink Partners reduced their target price on Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday, October 16th. Wells Fargo & Company cut their price target on shares of Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Guggenheim raised their price objective on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Finally, Wolfe Research started coverage on shares of Johnson & Johnson in a research note on Friday, November 15th. They set an “outperform” rating and a $190.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $170.44.

Insider Buying and Selling at Johnson & Johnson

In other news, Director Mark A. Weinberger bought 1,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average cost of $147.22 per share, for a total transaction of $147,220.00. Following the purchase, the director now owns 1,000 shares of the company’s stock, valued at $147,220. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Trading Up 1.1 %

NYSE:JNJ opened at $152.78 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. The company has a market capitalization of $367.82 billion, a P/E ratio of 22.97, a P/E/G ratio of 2.45 and a beta of 0.51. The stock’s 50 day moving average price is $147.73 and its 200 day moving average price is $156.10. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $168.85.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.05. The business had revenue of $22.52 billion for the quarter, compared to the consensus estimate of $22.44 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.35%. Johnson & Johnson’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.29 EPS. On average, research analysts forecast that Johnson & Johnson will post 10.56 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be issued a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $4.96 annualized dividend and a yield of 3.25%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 74.59%.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.