Legacy Financial Advisors Inc. Decreases Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Legacy Financial Advisors Inc. decreased its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 9.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,541 shares of the company’s stock after selling 1,625 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Johnson & Johnson were worth $2,436,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. California Public Employees Retirement System raised its stake in shares of Johnson & Johnson by 4.9% in the fourth quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock valued at $1,664,620,000 after acquiring an additional 498,647 shares during the period. Raymond James & Associates raised its stake in shares of Johnson & Johnson by 0.4% in the fourth quarter. Raymond James & Associates now owns 6,061,707 shares of the company’s stock valued at $950,112,000 after acquiring an additional 26,982 shares during the period. Ninety One UK Ltd raised its stake in shares of Johnson & Johnson by 0.3% in the fourth quarter. Ninety One UK Ltd now owns 4,436,013 shares of the company’s stock valued at $695,301,000 after acquiring an additional 12,867 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in shares of Johnson & Johnson by 4.8% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 4,396,416 shares of the company’s stock worth $688,198,000 after purchasing an additional 200,193 shares during the last quarter. Finally, Stifel Financial Corp grew its holdings in shares of Johnson & Johnson by 2.9% in the third quarter. Stifel Financial Corp now owns 4,306,268 shares of the company’s stock worth $670,726,000 after purchasing an additional 120,891 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Morgan Stanley cut their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and upped their price target for the stock from $169.00 to $170.00 in a report on Thursday, April 18th. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Monday. Royal Bank of Canada dropped their target price on shares of Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. Finally, StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 6th. Seven investment 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 stock. According to data from MarketBeat.com, the company presently has a consensus 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 firm’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 directly owns 141,416 shares of the company’s stock, valued at approximately $22,099,078.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the completion of the sale, the insider now directly owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Jennifer L. Taubert sold 59,397 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 141,416 shares of the company’s stock, valued at $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 Stock Up 0.2 %

NYSE:JNJ opened at $148.95 on Thursday. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.97. The stock has a market capitalization of $358.47 billion, a P/E ratio of 9.29, a P/E/G ratio of 2.46 and a beta of 0.55. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.17. The company’s 50-day simple moving average is $153.70 and its 200-day simple moving average is $154.97.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share 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 36.70%. The business had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. During the same period last year, the business earned $2.68 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. On average, equities analysts anticipate that Johnson & Johnson will post 10.65 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors 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 3.33%. The ex-dividend date of this dividend is Monday, May 20th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

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.