Summit Trail Advisors LLC Cuts Holdings in Johnson & Johnson (NYSE:JNJ)

Summit Trail Advisors LLC lessened its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 15.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,418 shares of the company’s stock after selling 3,391 shares during the period. Summit Trail Advisors LLC’s holdings in Johnson & Johnson were worth $2,887,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Tower View Wealth Management LLC increased its holdings in Johnson & Johnson by 183.3% during 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. Keener Financial Planning LLC purchased a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $40,000. WFA Asset Management Corp lifted its stake 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 buying an additional 97 shares in the last quarter. Creative Capital Management Investments LLC grew its holdings in Johnson & Johnson by 43.0% during the 3rd quarter. Creative Capital Management Investments LLC now owns 286 shares of the company’s stock valued at $45,000 after buying an additional 86 shares during the last quarter. Finally, Disciplined Equity Management Inc. purchased a new position in Johnson & Johnson during the fourth quarter worth $45,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Insider Transactions at Johnson & Johnson

In related 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 transaction, the insider now directly owns 4,099,575 shares of the company’s stock, valued at approximately $105,810,030.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ opened at $149.85 on Friday. The firm has a market capitalization of $360.64 billion, a PE ratio of 9.34, a P/E/G ratio of 2.46 and a beta of 0.55. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94. The business has a 50-day moving average of $153.45 and a two-hundred day moving average of $154.93.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly 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. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The firm had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.39 billion. During the same quarter last year, the firm posted $2.68 earnings per share. Johnson & Johnson’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, research analysts forecast that Johnson & Johnson will post 10.65 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date is Monday, May 20th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s payout ratio is currently 30.92%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on JNJ. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday. 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 note on Wednesday, April 17th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Morgan Stanley lowered their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Finally, HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and increased their price target for the stock from $169.00 to $170.00 in a research note on Thursday, April 18th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $175.86.

About Johnson & Johnson

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.