Redwood Investment Management LLC Cuts Holdings in Johnson & Johnson (NYSE:JNJ)

Redwood Investment Management LLC cut its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 80.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,988 shares of the company's stock after selling 25,017 shares during the quarter. Redwood Investment Management LLC's holdings in Johnson & Johnson were worth $866,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in JNJ. Vanguard Group Inc. grew its stake in Johnson & Johnson by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 232,792,559 shares of the company's stock valued at $33,666,460,000 after purchasing an additional 1,772,706 shares during the last quarter. Geode Capital Management LLC grew its stake in Johnson & Johnson by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company's stock valued at $8,321,881,000 after purchasing an additional 1,561,036 shares during the last quarter. Northern Trust Corp grew its stake in Johnson & Johnson by 12.3% during the 4th 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. Norges Bank purchased a new stake in Johnson & Johnson during the 4th quarter valued at about $4,390,037,000. Finally, Wellington Management Group LLP grew 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 hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

JNJ has been the topic of several research analyst reports. Bank of America dropped their price target on Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Sanford C. Bernstein reissued a "market perform" rating on shares of Johnson & Johnson in a report on Wednesday, April 16th. Morgan Stanley boosted their price objective on Johnson & Johnson from $164.00 to $169.00 and gave the company an "equal weight" rating in a report on Wednesday, April 16th. Leerink Partners cut Johnson & Johnson from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $169.00 to $153.00 in a report on Tuesday, May 13th. 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 report on Thursday, April 17th. Eleven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Johnson & Johnson currently has a consensus rating of "Moderate Buy" and an average price target of $170.88.

Johnson & Johnson Stock Performance

JNJ stock traded up $1.11 during trading on Monday, hitting $152.44. The company had a trading volume of 11,161,105 shares, compared to its average volume of 7,968,160. The firm has a market cap of $366.78 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 2.56 and a beta of 0.42. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $169.99. The firm has a 50-day moving average price of $156.27 and a 200-day moving average price of $153.85. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.18. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The company had revenue of $21.89 billion for the quarter, compared to analysts' expectations of $21.65 billion. On average, analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th will be given a dividend of $1.30 per share. 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. This represents a $5.20 annualized dividend and a yield of 3.41%. Johnson & Johnson's payout ratio is presently 57.84%.

Insiders Place Their Bets

In related news, EVP Timothy Schmid sold 403 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total value of $62,928.45. Following the sale, the executive vice president now owns 15,098 shares in the company, valued at $2,357,552.70. This represents a 2.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Robert J. Decker sold 6,999 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The stock was 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 owns 21,001 shares in the company, valued at approximately $3,483,645.88. This represents a 25.00% decrease in their position. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by insiders.

Johnson & Johnson 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.