Schmidt P J Investment Management Inc. Cuts Stake in Johnson & Johnson (NYSE:JNJ)

Schmidt P J Investment Management Inc. trimmed its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 21.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,424 shares of the company's stock after selling 5,506 shares during the period. Schmidt P J Investment Management Inc.'s holdings in Johnson & Johnson were worth $3,258,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in JNJ. Hibernia Wealth Partners LLC acquired a new position in shares of Johnson & Johnson in the 3rd quarter valued at about $27,000. FNY Investment Advisers LLC purchased a new stake in Johnson & Johnson during the 3rd quarter worth approximately $37,000. Tower View Wealth Management LLC increased its holdings in shares of Johnson & Johnson by 183.3% in the 3rd quarter. Tower View Wealth Management LLC now owns 255 shares of the company's stock valued at $40,000 after acquiring an additional 165 shares during the last quarter. Keener Financial Planning LLC bought a new stake in shares of Johnson & Johnson in the 4th quarter valued at approximately $40,000. Finally, Creative Capital Management Investments LLC increased its holdings in shares of Johnson & Johnson by 43.0% in the 3rd quarter. Creative Capital Management Investments LLC now owns 286 shares of the company's stock valued at $45,000 after acquiring an additional 86 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 $0.97 on Thursday, reaching $145.74. The stock had a trading volume of 9,867,856 shares, compared to its average volume of 7,254,172. The company has a market capitalization of $351.20 billion, a P/E ratio of 9.09, a price-to-earnings-growth ratio of 2.40 and a beta of 0.53. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $175.97. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.38. The stock has a fifty day moving average price of $156.32 and a 200-day moving average price of $155.68.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping analysts' consensus estimates of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.43%. The company had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. During the same period in the previous year, the firm posted $2.68 earnings per share. The company's revenue was up 2.3% on a year-over-year basis. Research analysts forecast that Johnson & Johnson will post 10.65 EPS for the current year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.40%. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.19. The ex-dividend date is Monday, May 20th. Johnson & Johnson's payout ratio is 29.68%.

Insider Buying and Selling

In related news, EVP Jennifer L. Taubert sold 59,397 shares of the business's stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the completion of the transaction, the executive vice president now owns 141,416 shares in the company, valued at $22,099,078.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder & Johnson Johnson sold 3,725 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.81, for a total transaction of $96,142.25. Following the completion of the transaction, the insider now owns 4,099,575 shares in the company, valued at $105,810,030.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jennifer L. Taubert sold 59,397 shares of the company's stock in a transaction on Friday, February 9th. The stock was sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the sale, the executive vice president now directly owns 141,416 shares in the company, valued at $22,099,078.32. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on JNJ. Raymond James boosted their price target on Johnson & Johnson from $172.00 to $175.00 and gave the company an "outperform" rating in a report on Wednesday, January 3rd. Royal Bank of Canada lowered their target price on Johnson & Johnson from $181.00 to $175.00 and set an "outperform" rating on the stock in a research note on Wednesday. StockNews.com raised shares of Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a report on Tuesday, February 6th. Morgan Stanley dropped their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set an "equal weight" rating on the stock in a report on Wednesday. Finally, HSBC upgraded shares of Johnson & Johnson from a "hold" rating to a "buy" rating and lifted their target price for the stock from $169.00 to $170.00 in a report on Thursday. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $175.86.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.