Johnson & Johnson (NYSE:JNJ) Shares Sold by Wallace Capital Management Inc.

Wallace Capital Management Inc. decreased its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 133,340 shares of the company's stock after selling 2,956 shares during the quarter. Johnson & Johnson makes up approximately 2.6% of Wallace Capital Management Inc.'s portfolio, making the stock its 6th largest holding. Wallace Capital Management Inc.'s holdings in Johnson & Johnson were worth $19,284,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of JNJ. Vanguard Group Inc. grew its holdings in Johnson & Johnson by 0.8% in the 4th 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 during the last quarter. Geode Capital Management LLC boosted its position in shares of Johnson & Johnson by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company's stock valued at $8,321,881,000 after acquiring an additional 1,561,036 shares during the period. Northern Trust Corp grew its stake 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 worth $4,456,201,000 after acquiring an additional 3,363,235 shares during the last quarter. Norges Bank bought a new position in Johnson & Johnson during the fourth quarter worth $4,390,037,000. Finally, Wellington Management Group LLP raised its stake in Johnson & Johnson by 1.8% during the 4th quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company's stock valued at $3,522,447,000 after purchasing an additional 431,205 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 6,999 shares of the stock in a transaction dated 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Leerink Partnrs downgraded shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Argus upgraded Johnson & Johnson to a "strong-buy" rating in a research note on Friday, January 24th. Guggenheim reaffirmed a "neutral" rating on shares of Johnson & Johnson in a report on Wednesday, April 2nd. The Goldman Sachs Group raised Johnson & Johnson from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $157.00 to $172.00 in a report on Wednesday, April 9th. Finally, Barclays reduced their target price 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. Eleven research 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 MarketBeat.com, Johnson & Johnson currently has a consensus rating of "Moderate Buy" and an average price target of $170.88.

Johnson & Johnson Price Performance

Johnson & Johnson stock traded down $0.68 during trading hours on Thursday, hitting $152.50. 7,528,277 shares of the stock were exchanged, compared to its average volume of 7,971,014. 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 is $155.67 and its two-hundred day moving average is $153.79. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. The stock has a market capitalization of $366.93 billion, a P/E ratio of 22.93, a P/E/G ratio of 2.56 and a beta of 0.42.

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, 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 for the quarter, compared to analyst estimates of $21.65 billion. Equities research analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th will be paid a $1.30 dividend. The ex-dividend date of this dividend 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 dividend yield of 3.41%. Johnson & Johnson's dividend payout ratio (DPR) is 57.84%.

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.