Peapack Gladstone Financial Corp Sells 12,582 Shares of Johnson & Johnson (NYSE:JNJ)

Peapack Gladstone Financial Corp lessened its holdings in Johnson & Johnson (NYSE:JNJ) by 2.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 431,352 shares of the company’s stock after selling 12,582 shares during the quarter. Johnson & Johnson comprises approximately 0.9% of Peapack Gladstone Financial Corp’s holdings, making the stock its 25th biggest position. Peapack Gladstone Financial Corp’s holdings in Johnson & Johnson were worth $62,383,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Johnson & Johnson by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 232,792,559 shares of the company’s stock valued at $33,666,460,000 after purchasing an additional 1,772,706 shares during the period. Geode Capital Management LLC lifted its position in shares of Johnson & Johnson by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company’s stock valued at $8,321,881,000 after buying an additional 1,561,036 shares during the last quarter. Norges Bank bought a new position in shares of Johnson & Johnson during the 4th quarter worth $4,390,037,000. Wellington Management Group LLP raised its stake in Johnson & Johnson by 1.8% in the 4th quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company’s stock valued at $3,522,447,000 after acquiring an additional 431,205 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Johnson & Johnson by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,187,082 shares of the company’s stock worth $2,630,216,000 after purchasing an additional 547,714 shares during the period. 69.55% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Raymond James dropped their price target on shares of Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $181.00 price target on shares of Johnson & Johnson in a report on Wednesday. Argus raised Johnson & Johnson to a “strong-buy” rating in a report on Friday, January 24th. Wells Fargo & Company reduced their target price on Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Finally, Guggenheim restated a “neutral” rating on shares of Johnson & Johnson in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $171.33.

Insider Buying and Selling

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

Johnson & Johnson Stock Down 4.3 %

Shares of Johnson & Johnson stock opened at $153.03 on Friday. The company’s 50 day moving average price is $159.75 and its 200-day moving average price is $155.84. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $169.99. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. The stock has a market capitalization of $368.77 billion, a price-to-earnings ratio of 23.01, a P/E/G ratio of 2.56 and a beta of 0.47.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.99 by $0.05. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The firm had revenue of $22.52 billion during the quarter, compared to the consensus estimate of $22.44 billion. During the same period in the prior year, the firm posted $2.29 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities research analysts forecast that Johnson & Johnson will post 10.58 EPS for the current year.

About Johnson & Johnson

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.