Johnson & Johnson (NYSE:JNJ) Shares Sold by Kennon Green & Company LLC

Kennon Green & Company LLC cut its position in shares of Johnson & Johnson (NYSE:JNJ) by 15.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,696 shares of the company’s stock after selling 3,528 shares during the period. Johnson & Johnson accounts for about 3.0% of Kennon Green & Company LLC’s investment portfolio, making the stock its 10th largest position. Kennon Green & Company LLC’s holdings in Johnson & Johnson were worth $2,930,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Massachusetts Wealth Management lifted its position in shares of Johnson & Johnson by 4.2% in the third quarter. Massachusetts Wealth Management now owns 16,105 shares of the company’s stock worth $2,508,000 after buying an additional 650 shares during the last quarter. Apeiron RIA LLC raised its stake in shares of Johnson & Johnson by 4.0% in the 3rd quarter. Apeiron RIA LLC now owns 3,800 shares of the company’s stock valued at $592,000 after acquiring an additional 145 shares in the last quarter. Chronos Wealth Management LLC lifted its holdings in Johnson & Johnson by 1.5% in the 3rd quarter. Chronos Wealth Management LLC now owns 34,963 shares of the company’s stock worth $5,445,000 after purchasing an additional 506 shares during the last quarter. Connecticut Wealth Management LLC grew its holdings in Johnson & Johnson by 46.6% during the third quarter. Connecticut Wealth Management LLC now owns 18,320 shares of the company’s stock valued at $2,853,000 after purchasing an additional 5,825 shares during the last quarter. Finally, TFG Advisers LLC raised its position in shares of Johnson & Johnson by 0.4% in the third quarter. TFG Advisers LLC now owns 18,330 shares of the company’s stock valued at $2,855,000 after purchasing an additional 67 shares during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

JNJ has been the subject of several recent analyst reports. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 6th. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research note on Monday, April 15th. Royal Bank of Canada decreased their price target on shares of Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. Morgan Stanley cut their price objective on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. Finally, 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. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $175.86.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 59,397 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now 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 is available through the SEC website. 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 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder & Johnson Johnson sold 3,725 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 4,099,575 shares in the company, valued at $105,810,030.75. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $149.27 on Friday. The business has a 50 day simple moving average of $154.44 and a 200 day simple moving average of $155.08. Johnson & Johnson has a one year low of $143.13 and a one year high of $175.97. The company has a market capitalization of $359.23 billion, a PE ratio of 9.31, a price-to-earnings-growth ratio of 2.47 and a beta of 0.55. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.91.

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

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be issued a $1.24 dividend. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Monday, May 20th. Johnson & Johnson’s payout ratio is presently 29.68%.

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.