Saybrook Capital NC Cuts Stake in Johnson & Johnson (NYSE:JNJ)

Saybrook Capital NC cut its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 15.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,100 shares of the company's stock after selling 9,785 shares during the period. Johnson & Johnson makes up 2.3% of Saybrook Capital NC's holdings, making the stock its 15th largest position. Saybrook Capital NC's holdings in Johnson & Johnson were worth $8,323,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hibernia Wealth Partners LLC bought a new stake in shares of Johnson & Johnson in the 3rd quarter valued at about $27,000. Tower View Wealth Management LLC grew its position in shares of Johnson & Johnson by 183.3% during the 3rd quarter. Tower View Wealth Management LLC now owns 255 shares of the company's stock worth $40,000 after purchasing an additional 165 shares in the last quarter. Keener Financial Planning LLC acquired a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $40,000. Creative Capital Management Investments LLC grew its position in shares of Johnson & Johnson by 43.0% during the 3rd quarter. Creative Capital Management Investments LLC now owns 286 shares of the company's stock worth $45,000 after purchasing an additional 86 shares in the last quarter. Finally, Altshuler Shaham Ltd grew its position in shares of Johnson & Johnson by 37.8% during the 3rd quarter. Altshuler Shaham Ltd now owns 317 shares of the company's stock worth $49,000 after purchasing an additional 87 shares in the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Morgan Stanley decreased 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 research report on Wednesday, April 17th. Raymond James increased their target price on shares of Johnson & Johnson from $172.00 to $175.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 3rd. StockNews.com upgraded shares of Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, February 6th. Cantor Fitzgerald reiterated an "overweight" rating and set a $215.00 price target on shares of Johnson & Johnson in a research report on Monday, April 15th. Finally, HSBC upgraded shares of Johnson & Johnson from a "hold" rating to a "buy" rating and increased their price target for the stock from $169.00 to $170.00 in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $175.86.

Johnson & Johnson Stock Up 0.8 %

JNJ traded up $1.21 during midday trading on Monday, hitting $149.12. The company had a trading volume of 10,114,691 shares, compared to its average volume of 7,317,319. The company has a market capitalization of $359.35 billion, a price-to-earnings ratio of 9.30, a PEG ratio of 2.44 and a beta of 0.53. The stock's 50 day moving average price is $156.15 and its 200 day moving average price is $155.63. Johnson & Johnson has a 52 week low of $143.13 and a 52 week 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.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $21.38 billion during the quarter, compared to analysts' expectations of $21.39 billion. During the same period last year, the company earned $2.68 earnings per share. The business's revenue was up 2.3% on a year-over-year basis. On average, research analysts anticipate that Johnson & Johnson will post 10.65 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be issued a $1.24 dividend. The ex-dividend date is Monday, May 20th. This represents a $4.96 annualized dividend and a yield of 3.33%. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.19. Johnson & Johnson's dividend payout ratio (DPR) is 29.68%.

Insider Buying and Selling

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

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.