Wallace Capital Management Inc. Has $19.28 Million Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Wallace Capital Management Inc. reduced its stake in Johnson & Johnson (NYSE:JNJ) by 2.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,340 shares of the company’s stock after selling 2,956 shares during the quarter. Johnson & Johnson accounts for 2.6% of Wallace Capital Management Inc.’s portfolio, making the stock its 6th largest position. Wallace Capital Management Inc.’s holdings in Johnson & Johnson were worth $19,284,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Tallon Kerry Patrick bought a new stake in Johnson & Johnson during the fourth quarter worth $290,000. Capital & Planning LLC increased its stake in shares of Johnson & Johnson by 13.6% during the fourth quarter. Capital & Planning LLC now owns 1,528 shares of the company’s stock worth $221,000 after purchasing an additional 183 shares during the period. Retirement Wealth Solutions LLC acquired a new stake in shares of Johnson & Johnson during the fourth quarter worth $73,000. Canoe Financial LP boosted its holdings in Johnson & Johnson by 3.2% in the 4th quarter. Canoe Financial LP now owns 92,626 shares of the company’s stock valued at $13,396,000 after purchasing an additional 2,900 shares during the period. Finally, Dominguez Wealth Management Solutions Inc. grew its position in Johnson & Johnson by 1.1% during the fourth quarter. Dominguez Wealth Management Solutions Inc. now owns 23,707 shares of the company’s stock worth $3,429,000 after buying an additional 261 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Trading Up 0.7%

NYSE JNJ opened at $152.44 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $156.06 and a 200 day simple moving average of $153.80. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99. The firm has a market capitalization of $366.78 billion, a P/E ratio of 22.92, a PEG ratio of 2.56 and a beta of 0.42.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.18. The business had revenue of $21.89 billion for the quarter, compared to analyst estimates of $21.65 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. On average, analysts predict that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.41%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Tuesday, May 27th. Johnson & Johnson’s dividend payout ratio is 57.84%.

Analyst Ratings Changes

Several research firms have commented on JNJ. Wells Fargo & Company decreased their target price on shares of Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Benchmark upgraded Johnson & Johnson to a “strong-buy” rating in a research report on Thursday, April 24th. Argus raised shares of Johnson & Johnson to a “strong-buy” rating in a research note on Friday, January 24th. Guggenheim reissued a “neutral” rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Finally, Barclays lowered their price objective on Johnson & Johnson from $166.00 to $165.00 and set an “equal weight” rating for the company in a research report on Thursday, April 17th. Eleven analysts have rated the stock with a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $170.88.

Insider Buying and Selling

In other Johnson & Johnson news, VP Robert J. Decker sold 6,999 shares of the stock in a transaction on 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 sale, the vice president now owns 21,001 shares in the company, valued at $3,483,645.88. This represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.16% of the stock is currently owned by insiders.

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.