Doheny Asset Management CA Decreases Stock Position in Johnson & Johnson (NYSE:JNJ)

Doheny Asset Management CA lowered its stake in Johnson & Johnson (NYSE:JNJ) by 16.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,090 shares of the company’s stock after selling 1,987 shares during the quarter. Johnson & Johnson makes up about 1.5% of Doheny Asset Management CA’s holdings, making the stock its 22nd biggest position. Doheny Asset Management CA’s holdings in Johnson & Johnson were worth $1,582,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Keener Financial Planning LLC purchased a new stake in Johnson & Johnson in the 4th quarter valued at about $40,000. Tower View Wealth Management LLC increased its position in Johnson & Johnson by 183.3% during the third quarter. Tower View Wealth Management LLC now owns 255 shares of the company’s stock worth $40,000 after purchasing an additional 165 shares during the last quarter. WFA Asset Management Corp boosted its holdings in shares of 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 purchasing an additional 97 shares during the last quarter. Creative Capital Management Investments LLC increased its holdings in shares of Johnson & Johnson by 43.0% during the 3rd quarter. Creative Capital Management Investments LLC now owns 286 shares of the company’s stock worth $45,000 after buying an additional 86 shares during the last quarter. Finally, Disciplined Equity Management Inc. purchased a new stake in Johnson & Johnson during the fourth quarter valued at about $45,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Trading Up 0.1 %

Shares of Johnson & Johnson stock opened at $148.72 on Wednesday. The company’s fifty day moving average price is $153.70 and its two-hundred day moving average price is $154.97. The firm has a market capitalization of $357.92 billion, a PE ratio of 9.27, a price-to-earnings-growth ratio of 2.46 and a beta of 0.55. Johnson & Johnson has a 52-week low of $143.13 and a 52-week 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.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.07. The firm had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the firm posted $2.68 EPS. On average, analysts expect that Johnson & Johnson will post 10.65 EPS for the current year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Monday, May 20th. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s payout ratio is currently 29.68%.

Insider Activity

In related news, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.81, for a total value of $96,142.25. Following the completion of the sale, the insider now owns 4,099,575 shares in the company, valued at $105,810,030.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 59,397 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $156.27, for a total value of $9,281,969.19. Following the completion of the transaction, the executive vice president now directly owns 141,416 shares of the company’s stock, valued at $22,099,078.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder & Johnson Johnson sold 3,725 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the completion of the transaction, the insider now owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on JNJ. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and increased their target price for the stock from $169.00 to $170.00 in a research report on Thursday, April 18th. Morgan Stanley decreased their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. Bank of America reduced their price objective on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Monday. Finally, StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 6th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Johnson & Johnson presently has an average rating of “Moderate Buy” and an average target price of $175.86.

Johnson & Johnson Profile

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.