Pitcairn Co. Sells 5,256 Shares of Johnson & Johnson (NYSE:JNJ)

Pitcairn Co. cut its stake in Johnson & Johnson (NYSE:JNJ) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 127,083 shares of the company’s stock after selling 5,256 shares during the period. Johnson & Johnson accounts for about 1.1% of Pitcairn Co.’s investment portfolio, making the stock its 14th biggest position. Pitcairn Co.’s holdings in Johnson & Johnson were worth $18,379,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. raised its stake in shares of Johnson & Johnson by 10.5% during the third quarter. Principal Financial Group Inc. now owns 3,472,312 shares of the company’s stock worth $562,723,000 after buying an additional 329,473 shares during the last quarter. United Bank raised its position in shares of Johnson & Johnson by 5.6% during the 3rd quarter. United Bank now owns 3,788 shares of the company’s stock valued at $614,000 after acquiring an additional 202 shares during the last quarter. Resurgent Financial Advisors LLC raised its position in shares of Johnson & Johnson by 10.1% during the 3rd quarter. Resurgent Financial Advisors LLC now owns 13,297 shares of the company’s stock valued at $2,155,000 after acquiring an additional 1,217 shares during the last quarter. Royal London Asset Management Ltd. lifted its stake in shares of Johnson & Johnson by 2.0% in the 3rd quarter. Royal London Asset Management Ltd. now owns 1,626,795 shares of the company’s stock valued at $263,638,000 after purchasing an additional 31,334 shares during the period. Finally, Quantinno Capital Management LP grew its stake in shares of Johnson & Johnson by 29.0% during the third quarter. Quantinno Capital Management LP now owns 219,599 shares of the company’s stock worth $35,588,000 after purchasing an additional 49,307 shares during the period. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $155.41 on Thursday. The firm has a market cap of $374.51 billion, a PE ratio of 23.37, a P/E/G ratio of 2.56 and a beta of 0.47. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99. The company’s fifty day simple moving average is $159.36 and its 200-day simple moving average is $155.98. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.05. The company had revenue of $22.52 billion during 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 34.24%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.29 EPS. Equities research analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Timothy Schmid sold 403 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total value of $62,928.45. Following the completion of the sale, the executive vice president now directly owns 15,098 shares in the company, valued at approximately $2,357,552.70. This trade represents a 2.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Robert J. Decker sold 6,999 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total value of $1,160,994.12. Following the transaction, the vice president now directly owns 21,001 shares in the company, valued at approximately $3,483,645.88. This trade represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on JNJ shares. Morgan Stanley reduced their target price on Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Stifel Nicolaus reduced their price objective on shares of Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Guggenheim reaffirmed a “neutral” rating on shares of Johnson & Johnson in a research note on Wednesday. Leerink Partners reduced their price target on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Finally, Raymond James lowered their price objective on shares of Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned 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 $171.33.

Johnson & Johnson Company Profile

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.