CWA Asset Management Group LLC Reduces Stake in Johnson & Johnson (NYSE:JNJ)

CWA Asset Management Group LLC cut its holdings in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 0.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 182,287 shares of the company’s stock after selling 499 shares during the period. Johnson & Johnson makes up 2.6% of CWA Asset Management Group LLC’s holdings, making the stock its 6th biggest holding. CWA Asset Management Group LLC’s holdings in Johnson & Johnson were worth $32,201,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TD Capital Management LLC acquired a new stake in Johnson & Johnson in the third quarter worth about $48,000. Cowa LLC purchased a new position in shares of Johnson & Johnson in the 3rd quarter valued at approximately $58,000. Legend Financial Advisors Inc. purchased a new stake in Johnson & Johnson during the 3rd quarter worth approximately $59,000. Adirondack Retirement Specialists Inc. acquired a new position in Johnson & Johnson during the 3rd quarter valued at approximately $67,000. Finally, Heritage Wealth Management LLC purchased a new position in Johnson & Johnson in the 2nd quarter worth $84,000. 67.94% of the stock is currently owned by institutional investors.

Insider Transactions at Johnson & Johnson

In related news, insider James D. Swanson sold 1,062 shares of the company’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $154.66, for a total value of $164,248.92. Following the completion of the sale, the insider now owns 9,215 shares of the company’s stock, valued at $1,425,191.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.35% of the company’s stock.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $152.38 on Friday. Johnson & Johnson has a 52-week low of $150.71 and a 52-week high of $186.69. The firm has a market capitalization of $396.84 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 2.65 and a beta of 0.54. The company has a fifty day simple moving average of $161.97 and a 200-day simple moving average of $167.88. The company has a quick ratio of 0.77, a current ratio of 0.99 and a debt-to-equity ratio of 0.35.

Johnson & Johnson (NYSE:JNJ – Get Rating) last released its earnings results on Tuesday, January 24th. The company reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.13. Johnson & Johnson had a net margin of 18.90% and a return on equity of 35.76%. The business had revenue of $23.71 billion during the quarter, compared to analyst estimates of $23.90 billion. During the same quarter in the prior year, the firm earned $2.13 earnings per share. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. On average, equities analysts anticipate that Johnson & Johnson will post 10.5 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 7th. Stockholders of record on Tuesday, February 21st were issued a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend was Friday, February 17th. Johnson & Johnson’s payout ratio is 67.06%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. StockNews.com started coverage on shares of Johnson & Johnson in a research report on Thursday. They set a “strong-buy” rating for the company. Citigroup boosted their price objective on Johnson & Johnson from $198.00 to $205.00 and gave the company a “buy” rating in a report on Monday, December 12th. Atlantic Securities raised their target price on Johnson & Johnson from $160.00 to $168.00 and gave the stock a “neutral” rating in a report on Wednesday, January 25th. Guggenheim assumed coverage on Johnson & Johnson in a report on Tuesday, February 28th. They issued a “neutral” rating and a $161.00 price target for the company. Finally, Piper Sandler dropped their price objective on shares of Johnson & Johnson from $55.00 to $52.00 in a research note on Monday, February 6th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus target price of $174.73.

About Johnson & Johnson

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Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer Health, Pharmaceutical, and MedTech. The Consumer Health segment includes products focused on personal healthcare used in the Skin Health/Beauty, Over-the-Counter medicines, Baby Care, Oral Care, Women’s Health and Wound Care markets.