Jupiter Wealth Management LLC Lowers Stock Position in Johnson & Johnson (NYSE:JNJ)

Jupiter Wealth Management LLC trimmed its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 18.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,346 shares of the company's stock after selling 4,251 shares during the period. Johnson & Johnson comprises 1.4% of Jupiter Wealth Management LLC's investment portfolio, making the stock its 22nd biggest holding. Jupiter Wealth Management LLC's holdings in Johnson & Johnson were worth $2,798,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the business. Norges Bank acquired a new stake in Johnson & Johnson in the 4th quarter valued at about $4,390,037,000. Raymond James Financial Inc. purchased a new stake in shares of Johnson & Johnson in the fourth quarter valued at about $1,339,878,000. Janus Henderson Group PLC lifted its holdings in shares of Johnson & Johnson by 134.5% in the fourth quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company's stock valued at $1,149,536,000 after purchasing an additional 4,559,147 shares in the last quarter. Northern Trust Corp grew its position in shares of Johnson & Johnson by 12.3% in the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock valued at $4,456,201,000 after purchasing an additional 3,363,235 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Johnson & Johnson by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 232,792,559 shares of the company's stock worth $33,666,460,000 after purchasing an additional 1,772,706 shares during the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

JNJ has been the subject of a number of analyst reports. Argus raised Johnson & Johnson to a "strong-buy" rating in a report on Friday, January 24th. Royal Bank of Canada reiterated an "outperform" rating and set a $181.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Wall Street Zen lowered shares of Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a report on Thursday. Sanford C. Bernstein reiterated a "market perform" rating on shares of Johnson & Johnson in a report on Wednesday, April 16th. Finally, The Goldman Sachs Group raised shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $157.00 to $172.00 in a research report on Wednesday, April 9th. Eleven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Johnson & Johnson currently has an average rating of "Moderate Buy" and a consensus price target of $170.88.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ opened at $153.12 on Friday. The business has a 50-day moving average of $155.24 and a two-hundred day moving average of $153.72. The firm has a market capitalization of $368.41 billion, a PE ratio of 23.02, a P/E/G 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. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.59 by $0.18. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The business had revenue of $21.89 billion during the quarter, compared to analysts' expectations of $21.65 billion. As a group, research 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. Investors of record on Tuesday, May 27th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 3.40%. This is a boost 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 is 57.84%.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 6,999 shares of the business's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.16% of the stock is owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.