Lake Street Advisors Group LLC Sells 701 Shares of Johnson & Johnson (NYSE:JNJ)

Lake Street Advisors Group LLC cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 4.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,178 shares of the company’s stock after selling 701 shares during the period. Lake Street Advisors Group LLC’s holdings in Johnson & Johnson were worth $2,340,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Provident Wealth Management LLC lifted its position in shares of Johnson & Johnson by 22.3% during the fourth quarter. Provident Wealth Management LLC now owns 2,301 shares of the company’s stock valued at $333,000 after purchasing an additional 419 shares in the last quarter. Bradley & Co. Private Wealth Management LLC purchased a new stake in Johnson & Johnson in the 4th quarter valued at about $163,000. FFT Wealth Management LLC lifted its position in shares of Johnson & Johnson by 9.9% during the 4th quarter. FFT Wealth Management LLC now owns 2,973 shares of the company’s stock worth $430,000 after buying an additional 269 shares in the last quarter. Sterling Investment Advisors Ltd. boosted its stake in shares of Johnson & Johnson by 8.9% in the 4th quarter. Sterling Investment Advisors Ltd. now owns 38,281 shares of the company’s stock worth $5,536,000 after buying an additional 3,128 shares during the last quarter. Finally, Strategent Financial LLC bought a new position in shares of Johnson & Johnson in the fourth quarter valued at approximately $324,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

JNJ has been the topic of a number of recent analyst reports. Stifel Nicolaus dropped their price target on Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 25th. Citigroup reduced their price target on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Wolfe Research assumed coverage on shares of Johnson & Johnson in a research report on Friday, November 15th. They issued an “outperform” rating and a $190.00 price objective on the stock. Finally, Argus raised shares of Johnson & Johnson to a “strong-buy” rating in a research report on Friday, January 24th. Nine equities 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $170.67.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $165.23 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.11 and a quick ratio of 0.86. Johnson & Johnson has a one year low of $140.68 and a one year high of $168.85. The firm has a market capitalization of $397.81 billion, a P/E ratio of 24.85, a PEG ratio of 2.56 and a beta of 0.52. The business has a fifty day moving average price of $150.90 and a 200-day moving average price of $156.06.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.99 by $0.05. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The business had revenue of $22.52 billion during the quarter, compared to the consensus estimate of $22.44 billion. During the same quarter last year, the company earned $2.29 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. As a group, equities research analysts forecast that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.00%. The ex-dividend date is Tuesday, February 18th. Johnson & Johnson’s payout ratio is 74.59%.

Insider Activity

In related news, EVP Timothy Schmid sold 403 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total value of $62,928.45. Following the transaction, the executive vice president now directly owns 15,098 shares in the company, valued at approximately $2,357,552.70. This represents a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert J. Decker sold 6,999 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the completion of the transaction, the vice president now directly owns 21,001 shares of the company’s stock, valued at approximately $3,483,645.88. This represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Profile

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.