Gray Wealth Management Inc. Sells 1,973 Shares of Johnson & Johnson (NYSE:JNJ)

Gray Wealth Management Inc. decreased its position in shares of Johnson & Johnson (NYSE:JNJ) by 9.4% during the fourth quarter, HoldingsChannel reports. The fund owned 19,085 shares of the company’s stock after selling 1,973 shares during the quarter. Johnson & Johnson accounts for approximately 1.0% of Gray Wealth Management Inc.’s investment portfolio, making the stock its 25th largest holding. Gray Wealth Management Inc.’s holdings in Johnson & Johnson were worth $2,760,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in JNJ. Knuff & Co LLC lifted its stake in Johnson & Johnson by 0.7% in the third quarter. Knuff & Co LLC now owns 9,466 shares of the company’s stock worth $1,534,000 after purchasing an additional 64 shares during the last quarter. Vertex Planning Partners LLC raised its holdings in shares of Johnson & Johnson by 1.3% in the third quarter. Vertex Planning Partners LLC now owns 5,211 shares of the company’s stock worth $844,000 after buying an additional 65 shares during the period. Werba Rubin Papier Wealth Management boosted its holdings in Johnson & Johnson by 3.3% during the 4th quarter. Werba Rubin Papier Wealth Management now owns 2,080 shares of the company’s stock valued at $301,000 after acquiring an additional 66 shares during the period. Denali Advisors LLC grew its position in Johnson & Johnson by 1.3% in the 4th quarter. Denali Advisors LLC now owns 5,128 shares of the company’s stock valued at $742,000 after acquiring an additional 67 shares during the last quarter. Finally, Sage Mountain Advisors LLC increased its stake in Johnson & Johnson by 0.5% in the fourth quarter. Sage Mountain Advisors LLC now owns 14,564 shares of the company’s stock worth $2,106,000 after purchasing an additional 67 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insiders Place Their Bets

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

Johnson & Johnson Trading Down 0.0 %

NYSE:JNJ opened at $162.94 on Monday. The firm has a 50 day moving average of $154.98 and a 200 day moving average of $156.27. 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 has a 52 week low of $140.68 and a 52 week high of $169.99. The stock has a market capitalization of $392.29 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 2.56 and a beta of 0.47.

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

Johnson & Johnson Dividend Announcement

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

Wall Street Analysts Forecast Growth

JNJ has been the subject of a number of recent analyst reports. Raymond James cut their price target on shares of Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Guggenheim restated a “neutral” rating on shares of Johnson & Johnson in a research note on Monday, March 10th. Wells Fargo & Company decreased their price target on shares of Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $181.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, February 19th. Finally, Citigroup decreased their target price on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.33.

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.