Klingenstein Fields & Co. LP Decreases Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Klingenstein Fields & Co. LP trimmed its position in Johnson & Johnson (NYSE:JNJ) by 4.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 256,252 shares of the company’s stock after selling 12,727 shares during the quarter. Johnson & Johnson accounts for approximately 1.8% of Klingenstein Fields & Co. LP’s holdings, making the stock its 14th biggest holding. Klingenstein Fields & Co. LP’s holdings in Johnson & Johnson were worth $40,165,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in JNJ. Commerzbank Aktiengesellschaft FI increased its position in Johnson & Johnson by 0.3% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 825,154 shares of the company’s stock valued at $129,335,000 after purchasing an additional 2,429 shares during the period. Cetera Trust Company N.A purchased a new position in Johnson & Johnson during the 4th quarter valued at $360,000. Hussman Strategic Advisors Inc. purchased a new position in Johnson & Johnson during the 4th quarter valued at $1,646,000. Nikulski Financial Inc. increased its position in Johnson & Johnson by 3.2% during the 4th quarter. Nikulski Financial Inc. now owns 2,192 shares of the company’s stock valued at $343,000 after purchasing an additional 67 shares during the period. Finally, Jackson Grant Investment Advisers Inc. increased its position in Johnson & Johnson by 0.5% during the 4th quarter. Jackson Grant Investment Advisers Inc. now owns 14,306 shares of the company’s stock valued at $2,242,000 after purchasing an additional 75 shares during the period. 69.55% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Johnson & Johnson

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

Analyst Ratings Changes

A number of brokerages have issued reports 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. Morgan Stanley reduced their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research report on Monday, April 15th. Royal Bank of Canada reduced their target price on shares of Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. Finally, Bank of America reduced their target price on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $175.86.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $146.13 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.91 and a current ratio of 1.16. The company has a market capitalization of $352.14 billion, a price-to-earnings ratio of 9.11, a price-to-earnings-growth ratio of 2.45 and a beta of 0.53. The company’s 50-day moving average is $155.26 and its 200 day moving average is $155.32. Johnson & Johnson has a one year low of $143.13 and a one year high of $175.97.

Johnson & Johnson (NYSE:JNJ) last posted its 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 business had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.43%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.68 EPS. Sell-side analysts expect that Johnson & Johnson will post 10.65 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed 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. This represents a $4.96 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Monday, May 20th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio is 29.68%.

Johnson & Johnson Company 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.