Johnson & Johnson (NYSE:JNJ) Stake Reduced by Carret Asset Management LLC

Carret Asset Management LLC lessened its position in Johnson & Johnson (NYSE:JNJ) by 1.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 87,269 shares of the company’s stock after selling 1,647 shares during the period. Johnson & Johnson comprises 1.7% of Carret Asset Management LLC’s portfolio, making the stock its 8th largest holding. Carret Asset Management LLC’s holdings in Johnson & Johnson were worth $13,679,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. California Public Employees Retirement System boosted its holdings in shares of Johnson & Johnson by 4.9% during the 4th quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock valued at $1,664,620,000 after acquiring an additional 498,647 shares during the last quarter. Raymond James & Associates lifted its position in Johnson & Johnson by 0.4% during the fourth quarter. Raymond James & Associates now owns 6,061,707 shares of the company’s stock valued at $950,112,000 after purchasing an additional 26,982 shares during the period. Ninety One UK Ltd boosted its holdings in Johnson & Johnson by 0.3% in the fourth quarter. Ninety One UK Ltd now owns 4,436,013 shares of the company’s stock worth $695,301,000 after purchasing an additional 12,867 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in Johnson & Johnson by 4.8% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 4,396,416 shares of the company’s stock worth $688,198,000 after purchasing an additional 200,193 shares during the period. Finally, Stifel Financial Corp raised its stake in Johnson & Johnson by 2.9% during the 3rd quarter. Stifel Financial Corp now owns 4,306,268 shares of the company’s stock valued at $670,726,000 after buying an additional 120,891 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on JNJ shares. Bank of America dropped their price target 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. Raymond James boosted their price target on Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, January 3rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday, April 15th. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 6th. Finally, Royal Bank of Canada dropped their price target on shares of Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $175.86.

Insider Buying and Selling at Johnson & Johnson

In related news, major shareholder & Johnson Johnson sold 3,725 shares of the business’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 sale, the insider now directly owns 4,099,575 shares in the company, valued at $105,810,030.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Jennifer L. Taubert sold 59,397 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $156.27, for a total value of $9,281,969.19. Following the sale, 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 SEC, which is accessible through this link. Also, major shareholder & Johnson Johnson sold 3,725 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $25.81, for a total transaction of $96,142.25. Following the completion of the transaction, the insider now directly owns 4,099,575 shares of the company’s stock, valued at approximately $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

NYSE:JNJ opened at $146.84 on Tuesday. The stock has a market cap of $353.85 billion, a PE ratio of 9.15, a P/E/G ratio of 2.41 and a beta of 0.53. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.38. The business’s 50-day simple moving average is $155.07 and its two-hundred day simple moving average is $155.23. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $175.97.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. The company had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson had a return on equity of 36.43% and a net margin of 45.26%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.68 EPS. As a group, analysts forecast that Johnson & Johnson will post 10.65 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be paid a $1.24 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $4.96 annualized dividend and a yield of 3.38%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s payout ratio is presently 29.68%.

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.