Lodestar Private Asset Management LLC Cuts Stock Position in Johnson & Johnson (NYSE:JNJ)

Lodestar Private Asset Management LLC lowered its holdings in Johnson & Johnson (NYSE:JNJ) by 14.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,416 shares of the company’s stock after selling 738 shares during the period. Lodestar Private Asset Management LLC’s holdings in Johnson & Johnson were worth $692,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of JNJ. 4J Wealth Management LLC increased its position in shares of Johnson & Johnson by 2.2% during the 4th quarter. 4J Wealth Management LLC now owns 2,835 shares of the company’s stock valued at $444,000 after purchasing an additional 62 shares during the last quarter. My Personal CFO LLC boosted its holdings in Johnson & Johnson by 1.4% during the 4th quarter. My Personal CFO LLC now owns 4,550 shares of the company’s stock valued at $713,000 after acquiring an additional 62 shares during the period. Eagle Strategies LLC boosted its holdings in Johnson & Johnson by 1.8% during the 4th quarter. Eagle Strategies LLC now owns 3,589 shares of the company’s stock valued at $563,000 after acquiring an additional 63 shares during the period. FIDELIS iM LLC boosted its holdings in Johnson & Johnson by 3.1% during the 4th quarter. FIDELIS iM LLC now owns 2,117 shares of the company’s stock valued at $374,000 after acquiring an additional 64 shares during the period. Finally, Clearview Wealth Advisors LLC boosted its holdings in Johnson & Johnson by 1.5% during the 4th quarter. Clearview Wealth Advisors LLC now owns 4,373 shares of the company’s stock valued at $685,000 after acquiring an additional 64 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

NYSE JNJ opened at $145.74 on Friday. The company has a market capitalization of $351.20 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 2.40 and a beta of 0.53. 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 business’s fifty day moving average is $156.32 and its 200 day moving average is $155.68. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.97.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.43% and a net margin of 45.26%. The company had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.39 billion. During the same period in the previous year, the business earned $2.68 earnings per share. Johnson & Johnson’s quarterly revenue was up 2.3% compared to the same quarter last year. Sell-side analysts predict that Johnson & Johnson will post 10.65 earnings per share for the current 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 given a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.40%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend is Monday, May 20th. Johnson & Johnson’s payout ratio is presently 29.68%.

Analyst Ratings Changes

Several brokerages recently weighed in on JNJ. Raymond James increased their target price on Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, January 3rd. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Monday. Bank of America reduced their price objective on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and raised their price objective for the company from $169.00 to $170.00 in a research report on Thursday. Finally, Royal Bank of Canada reduced their target price on Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.86.

Insider Activity

In other news, EVP Jennifer L. Taubert sold 59,397 shares of Johnson & Johnson stock in a transaction dated Friday, February 9th. The stock was 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 of the company’s stock, valued at $22,099,078.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the sale, the insider now directly owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jennifer L. Taubert sold 59,397 shares of the company’s 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 directly 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.

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.