Adell Harriman & Carpenter Inc. Cuts Holdings in Johnson & Johnson (NYSE:JNJ)

Adell Harriman & Carpenter Inc. cut its position in shares of Johnson & Johnson (NYSE:JNJ) by 8.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 80,129 shares of the company’s stock after selling 7,162 shares during the period. Johnson & Johnson makes up about 1.2% of Adell Harriman & Carpenter Inc.’s portfolio, making the stock its 26th biggest holding. Adell Harriman & Carpenter Inc.’s holdings in Johnson & Johnson were worth $12,559,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tower View Wealth Management LLC boosted 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 worth $40,000 after purchasing an additional 165 shares during the period. Keener Financial Planning LLC purchased a new position in Johnson & Johnson during the fourth quarter worth $40,000. WFA Asset Management Corp increased its position in Johnson & Johnson by 61.4% during the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after acquiring an additional 97 shares during the last quarter. Creative Capital Management Investments LLC raised its stake in shares of Johnson & Johnson by 43.0% in the third 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 period. Finally, Disciplined Equity Management Inc. bought a new stake in shares of Johnson & Johnson in the 4th quarter worth about $45,000. 69.55% of the stock is currently owned by institutional investors.

Insider Activity

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 approximately $22,099,078.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 59,397 shares of Johnson & Johnson stock in a transaction on 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 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $96,142.25. Following the sale, the insider now owns 4,099,575 shares of the company’s stock, valued at approximately $105,810,030.75. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Price Performance

NYSE JNJ opened at $149.27 on Friday. The company has a market cap of $359.23 billion, a PE ratio of 9.31, a P/E/G ratio of 2.47 and a beta of 0.55. The firm’s 50 day moving average price is $154.44 and its 200-day moving average price is $155.08. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 1.17. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $175.97.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.07. The business had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.68 EPS. Sell-side analysts forecast that Johnson & Johnson will post 10.65 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 3.32%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date is Monday, May 20th. Johnson & Johnson’s dividend payout ratio is presently 29.68%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and upped their price target for the company from $169.00 to $170.00 in a report on Thursday, April 18th. Morgan Stanley cut their price objective on 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Monday, April 15th. Bank of America cut their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Finally, Royal Bank of Canada decreased their price objective on shares of Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average price target 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.