Johnson & Johnson (NYSE:JNJ) is Pitti Group Wealth Management LLC’s 8th Largest Position

Pitti Group Wealth Management LLC trimmed its stake in Johnson & Johnson (NYSE:JNJ) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,356 shares of the company’s stock after selling 586 shares during the period. Johnson & Johnson accounts for about 3.1% of Pitti Group Wealth Management LLC’s investment portfolio, making the stock its 8th biggest holding. Pitti Group Wealth Management LLC’s holdings in Johnson & Johnson were worth $3,089,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. IFS Advisors LLC lifted its position in shares of Johnson & Johnson by 138.9% in the 4th quarter. IFS Advisors LLC now owns 172 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares during the period. Bay Harbor Wealth Management LLC purchased a new stake in shares of Johnson & Johnson in the 4th quarter worth about $32,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Johnson & Johnson in the 3rd quarter worth about $35,000. Activest Wealth Management purchased a new stake in shares of Johnson & Johnson in the 3rd quarter worth about $40,000. Finally, NewSquare Capital LLC increased its stake in shares of Johnson & Johnson by 145.8% in the 4th quarter. NewSquare Capital LLC now owns 290 shares of the company’s stock worth $42,000 after acquiring an additional 172 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $162.94 on Monday. The company has a 50 day moving average price of $154.98 and a 200-day moving average price of $156.27. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99. The firm has a market capitalization of $392.29 billion, a PE ratio of 24.50, a P/E/G ratio of 2.56 and a beta of 0.47. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.05. The firm had revenue of $22.52 billion during the quarter, compared to analyst estimates of $22.44 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.29 earnings per share. As a group, equities research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend was Tuesday, February 18th. Johnson & Johnson’s payout ratio is 74.59%.

Insider Buying and Selling

In related news, EVP Timothy Schmid sold 403 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total value of $62,928.45. Following the transaction, the executive vice president now owns 15,098 shares of the company’s stock, valued at approximately $2,357,552.70. This trade represents a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Robert J. Decker sold 6,999 shares of Johnson & Johnson stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the transaction, the vice president now directly owns 21,001 shares in the company, valued at $3,483,645.88. This represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on JNJ. Argus upgraded shares of Johnson & Johnson to a “strong-buy” rating in a research note on Friday, January 24th. Bank of America increased their price target on shares of Johnson & Johnson from $159.00 to $171.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 5th. Citigroup decreased their price target on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Guggenheim reiterated a “neutral” rating on shares of Johnson & Johnson in a research note on Monday, March 10th. Finally, Raymond James decreased their price target on shares of Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $171.33.

Johnson & Johnson Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.