Novak & Powell Financial Services Inc. lessened its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 20.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,949 shares of the company's stock after selling 2,037 shares during the period. Novak & Powell Financial Services Inc.'s holdings in Johnson & Johnson were worth $1,150,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. WealthTrak Capital Management LLC purchased a new stake in Johnson & Johnson in the 4th quarter worth about $26,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Johnson & Johnson in the 4th quarter valued at about $29,000. Bay Harbor Wealth Management LLC purchased a new stake in shares of Johnson & Johnson in the fourth quarter worth approximately $32,000. Conquis Financial LLC acquired a new stake in shares of Johnson & Johnson during the fourth quarter worth approximately $33,000. Finally, Bernard Wealth Management Corp. purchased a new position in Johnson & Johnson during the fourth quarter valued at approximately $36,000. 69.55% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms have issued reports on JNJ. Bank of America cut their target price on shares of Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Stifel Nicolaus dropped their price target 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. Argus upgraded Johnson & Johnson to a "strong-buy" rating in a report on Friday, January 24th. Wall Street Zen downgraded Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research note on Thursday. Finally, Guggenheim reaffirmed a "neutral" rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Eleven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Johnson & Johnson currently has an average rating of "Moderate Buy" and a consensus target price of $170.88.
Get Our Latest Stock Report on JNJ
Johnson & Johnson Stock Performance
Shares of JNJ stock traded down $0.68 during trading on Thursday, reaching $152.50. The company had a trading volume of 7,528,277 shares, compared to its average volume of 7,976,460. The company has a market capitalization of $366.93 billion, a PE ratio of 22.93, a PEG ratio of 2.56 and a beta of 0.42. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.11 and a quick ratio of 0.86. The firm's 50 day simple moving average is $155.47 and its two-hundred day simple moving average is $153.75. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99.
Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly 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 for 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%. Sell-side analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.
Johnson & Johnson Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th will be given a $1.30 dividend. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 annualized dividend and a dividend yield of 3.41%. The ex-dividend date is Tuesday, May 27th. Johnson & Johnson's dividend payout ratio (DPR) is currently 57.84%.
Insider Transactions at Johnson & Johnson
In other Johnson & Johnson news, VP Robert J. Decker sold 6,999 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total value of $1,160,994.12. Following the completion of the sale, the vice president now directly owns 21,001 shares of the company's stock, valued at $3,483,645.88. This represents a 25.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is currently owned by corporate insiders.
About Johnson & Johnson
(
Free Report)
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.
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