Johnson & Johnson (NYSE:JNJ) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN lowered its stake in shares of Johnson & Johnson (NYSE:JNJ) by 3.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 131,772 shares of the company’s stock after selling 4,239 shares during the period. OLD National Bancorp IN’s holdings in Johnson & Johnson were worth $20,654,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Keener Financial Planning LLC purchased a new stake in Johnson & Johnson during the fourth quarter worth about $40,000. Tower View Wealth Management LLC raised 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 acquiring an additional 165 shares during the last quarter. WFA Asset Management Corp raised its position in Johnson & Johnson by 61.4% during the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after acquiring an additional 97 shares during the last quarter. Creative Capital Management Investments LLC raised its position in Johnson & Johnson by 43.0% during the third quarter. Creative Capital Management Investments LLC now owns 286 shares of the company’s stock worth $45,000 after acquiring an additional 86 shares during the last quarter. Finally, Altshuler Shaham Ltd raised its position in Johnson & Johnson by 37.8% during the third quarter. Altshuler Shaham Ltd now owns 317 shares of the company’s stock worth $49,000 after acquiring an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insider Activity

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

Johnson & Johnson Price Performance

JNJ opened at $146.13 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.38. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $175.97. The company has a 50 day moving average of $155.26 and a two-hundred day moving average of $155.32. The company has a market cap of $352.14 billion, a P/E ratio of 9.11, a P/E/G ratio of 2.45 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.07. The company 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 36.43%. Johnson & Johnson’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.68 earnings per share. On average, analysts expect that Johnson & Johnson will post 10.65 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be paid a $1.24 dividend. The ex-dividend date is Monday, May 20th. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a dividend yield of 3.39%. Johnson & Johnson’s dividend payout ratio is 29.68%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on JNJ. Raymond James boosted their price objective on shares of Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, January 3rd. Bank of America cut their price objective on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 6th. Royal Bank of Canada cut their price objective on shares of Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. Finally, HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and boosted their price objective for the company from $169.00 to $170.00 in a research report on Thursday, April 18th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.86.

About Johnson & Johnson

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.