Johnson & Johnson (NYSE:JNJ) Shares Sold by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC trimmed its position in shares of Johnson & Johnson (NYSE:JNJ) by 18.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,670 shares of the company’s stock after selling 2,845 shares during the period. Palumbo Wealth Management LLC’s holdings in Johnson & Johnson were worth $1,832,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of JNJ. IFS Advisors LLC raised its stake in Johnson & Johnson by 138.9% during the 4th quarter. IFS Advisors LLC now owns 172 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. Highline Wealth Partners LLC acquired a new position in shares of Johnson & Johnson during the third quarter valued at approximately $31,000. Bay Harbor Wealth Management LLC bought a new stake in Johnson & Johnson during the fourth quarter worth approximately $32,000. RPg Family Wealth Advisory LLC acquired a new stake in Johnson & Johnson in the third quarter worth approximately $35,000. Finally, Mowery & Schoenfeld Wealth Management LLC increased its position in shares of Johnson & Johnson by 58.7% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after purchasing an additional 91 shares during the period. Institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

JNJ has been the subject of several research analyst reports. Wells Fargo & Company cut their price objective on Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Raymond James cut their price target on shares of Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Morgan Stanley lowered their price objective on shares of Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Argus raised Johnson & Johnson to a “strong-buy” rating in a research report on Friday, January 24th. Finally, Citigroup reduced their price objective on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $170.67.

Johnson & Johnson Trading Down 0.7 %

NYSE JNJ opened at $155.04 on Wednesday. The firm’s fifty day simple moving average is $148.00 and its 200-day simple moving average is $155.91. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $168.85. The company has a market capitalization of $373.27 billion, a PE ratio of 23.31, a price-to-earnings-growth ratio of 2.46 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.05. The business had revenue of $22.52 billion during the quarter, compared to analyst estimates of $22.44 billion. Johnson & Johnson had a return on equity of 34.35% and a net margin of 18.20%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.29 EPS. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.20%. The ex-dividend date is Tuesday, February 18th. Johnson & Johnson’s payout ratio is presently 74.59%.

Insider Buying and Selling

In other Johnson & Johnson news, Director Mark A. Weinberger acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average price of $147.22 per share, with a total value of $147,220.00. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at approximately $147,220. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Timothy Schmid sold 403 shares of the firm’s stock in a transaction that occurred on 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 $2,357,552.70. This trade represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by corporate insiders.

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.