Harmony Asset Management LLC Reduces Holdings in Johnson & Johnson (NYSE:JNJ)

Harmony Asset Management LLC decreased its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 23.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,060 shares of the company's stock after selling 4,727 shares during the quarter. Harmony Asset Management LLC's holdings in Johnson & Johnson were worth $2,178,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of JNJ. 49 Wealth Management LLC purchased a new position in shares of Johnson & Johnson in the fourth quarter valued at approximately $211,000. Monograph Wealth Advisors LLC raised its stake in Johnson & Johnson by 8.8% in the 4th quarter. Monograph Wealth Advisors LLC now owns 4,458 shares of the company's stock valued at $645,000 after purchasing an additional 359 shares during the last quarter. Novem Group purchased a new position in Johnson & Johnson in the 4th quarter valued at $1,196,000. 10Elms LLP purchased a new stake in shares of Johnson & Johnson during the fourth quarter worth $99,000. Finally, Taylor Hoffman Capital Management LLC raised its position in shares of Johnson & Johnson by 2.5% in the fourth quarter. Taylor Hoffman Capital Management LLC now owns 28,808 shares of the company's stock valued at $4,166,000 after buying an additional 713 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Leerink Partners lowered shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $169.00 to $153.00 in a research report on Tuesday, May 13th. Wall Street Zen cut Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a report on Thursday. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Raymond James reduced 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. Finally, Leerink Partnrs cut shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $170.88.

Johnson & Johnson Trading Up 0.3%

NYSE:JNJ traded up $0.51 during trading hours on Monday, reaching $153.12. 6,727,130 shares of the stock were exchanged, compared to its average volume of 7,965,146. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. 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 business has a 50-day moving average of $155.24 and a two-hundred day moving average of $153.67. The company has a market capitalization of $368.41 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 2.56 and a beta of 0.42.

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

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th will be issued a $1.30 dividend. The ex-dividend date is Tuesday, May 27th. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 dividend on an annualized basis and a yield of 3.40%. Johnson & Johnson's dividend payout ratio (DPR) is 57.84%.

Insiders Place Their Bets

In other Johnson & Johnson news, VP Robert J. Decker sold 6,999 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 21,001 shares in the company, valued at $3,483,645.88. The trade was a 25.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.16% of the stock is owned by company insiders.

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.