Allegheny Financial Group Decreases Stock Position in Johnson & Johnson (NYSE:JNJ)

Allegheny Financial Group reduced its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 18.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,090 shares of the company's stock after selling 2,675 shares during the quarter. Allegheny Financial Group's holdings in Johnson & Johnson were worth $1,749,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Johnson & Johnson in the 4th quarter worth about $4,390,037,000. Raymond James Financial Inc. bought a new position in shares of Johnson & Johnson in the 4th quarter valued at $1,339,878,000. Northern Trust Corp raised its stake in Johnson & Johnson by 12.3% during the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock worth $4,456,201,000 after acquiring an additional 3,363,235 shares in the last quarter. Vanguard Group Inc. boosted its position in Johnson & Johnson by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 232,792,559 shares of the company's stock valued at $33,666,460,000 after buying an additional 1,772,706 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in Johnson & Johnson by 11.4% during the 3rd quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company's stock worth $2,721,355,000 after acquiring an additional 1,729,281 shares during the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Price Performance

NYSE:JNJ traded up $1.63 during mid-day trading on Friday, hitting $156.09. 5,973,317 shares of the stock traded hands, compared to its average volume of 7,885,287. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99. The business's 50-day moving average price is $158.85 and its 200 day moving average price is $154.61. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. The company has a market cap of $375.56 billion, a PE ratio of 23.47, a price-to-earnings-growth ratio of 2.56 and a beta of 0.49.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.18. The company had revenue of $21.89 billion during the quarter, compared to analyst estimates of $21.65 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. On average, analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.33%. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Tuesday, May 27th. Johnson & Johnson's dividend payout ratio (DPR) is presently 57.84%.

Insider Activity at Johnson & Johnson

In other news, VP Robert J. Decker sold 6,999 shares of the business's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the sale, the vice president now owns 21,001 shares in the company, valued at approximately $3,483,645.88. The trade was a 25.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 transaction of $62,928.45. Following the transaction, the executive vice president now directly owns 15,098 shares of the company's stock, valued at $2,357,552.70. This 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 company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on JNJ shares. Bank of America dropped their price target on shares of Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Benchmark upgraded shares of Johnson & Johnson to a "strong-buy" rating in a report on Thursday, April 24th. Leerink Partners decreased their price target on shares of Johnson & Johnson from $182.00 to $169.00 and set an "outperform" rating for the company in a research note on Thursday, January 23rd. Barclays lowered their price target on Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Finally, Raymond James dropped their price target on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $171.82.

Johnson & Johnson 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.