Blodgett Wealth Advisors LLC Sells 298 Shares of Johnson & Johnson (NYSE:JNJ)

Blodgett Wealth Advisors LLC decreased its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,937 shares of the company’s stock after selling 298 shares during the quarter. Johnson & Johnson comprises approximately 1.7% of Blodgett Wealth Advisors LLC’s holdings, making the stock its 13th largest position. Blodgett Wealth Advisors LLC’s holdings in Johnson & Johnson were worth $1,714,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Keener Financial Planning LLC bought a new stake in Johnson & Johnson during the 4th quarter valued at approximately $40,000. Tower View Wealth Management LLC raised its holdings in 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 in the last quarter. WFA Asset Management Corp raised its holdings in Johnson & Johnson by 61.4% in the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after acquiring an additional 97 shares in the last quarter. Creative Capital Management Investments LLC raised its holdings in 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 in the last quarter. Finally, Disciplined Equity Management Inc. acquired a new position in Johnson & Johnson in the 4th quarter valued at approximately $45,000. Institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on JNJ. Bank of America cut their price target on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Monday, April 15th. StockNews.com raised 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 Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Finally, Raymond James increased their target price on Johnson & Johnson from $172.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, January 3rd. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average target price of $175.86.

Insiders Place Their Bets

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 59,397 shares of the business’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 directly owns 141,416 shares of the company’s stock, valued at $22,099,078.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of the business’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 directly owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jennifer L. Taubert sold 59,397 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were 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 directly owns 141,416 shares of the company’s stock, valued at $22,099,078.32. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Down 1.5 %

NYSE:JNJ opened at $144.61 on Wednesday. Johnson & Johnson has a 12-month low of $143.13 and a 12-month 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 firm has a market capitalization of $348.48 billion, a P/E ratio of 9.02, a P/E/G ratio of 2.42 and a beta of 0.53. The stock’s fifty day simple moving average is $154.80 and its 200-day simple moving average is $155.14.

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

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be given a $1.24 dividend. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Monday, May 20th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 29.68%.

Johnson & Johnson 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.