Montgomery Investment Management Inc. Has $3.80 Million Stake in Johnson & Johnson (NYSE:JNJ)

Montgomery Investment Management Inc. decreased its position in Johnson & Johnson (NYSE:JNJ) by 6.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 24,259 shares of the company’s stock after selling 1,696 shares during the period. Johnson & Johnson comprises about 1.2% of Montgomery Investment Management Inc.’s investment portfolio, making the stock its 22nd biggest holding. Montgomery Investment Management Inc.’s holdings in Johnson & Johnson were worth $3,802,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. DORCHESTER WEALTH MANAGEMENT Co lifted its position in Johnson & Johnson by 8.6% in the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 67,618 shares of the company’s stock worth $14,975,000 after buying an additional 5,327 shares in the last quarter. Cantor Fitzgerald Investment Advisor L.P lifted its position in Johnson & Johnson by 88.9% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 175,194 shares of the company’s stock worth $31,049,000 after buying an additional 82,429 shares in the last quarter. AMI Investment Management Inc. lifted its position in Johnson & Johnson by 8.8% in the 1st quarter. AMI Investment Management Inc. now owns 18,305 shares of the company’s stock worth $3,244,000 after buying an additional 1,475 shares in the last quarter. Equitable Holdings Inc. lifted its position in Johnson & Johnson by 4.9% in the 1st quarter. Equitable Holdings Inc. now owns 45,673 shares of the company’s stock worth $8,095,000 after buying an additional 2,119 shares in the last quarter. Finally, USS Investment Management Ltd lifted its position in Johnson & Johnson by 2.4% in the 1st quarter. USS Investment Management Ltd now owns 860,371 shares of the company’s stock worth $152,488,000 after buying an additional 20,528 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

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 shares were 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 directly owns 141,416 shares in the company, valued at approximately $22,099,078.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Jennifer L. Taubert sold 59,397 shares of Johnson & Johnson stock in a transaction dated 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 sale, the executive vice president now directly owns 141,416 shares in the company, valued at approximately $22,099,078.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder & Johnson Johnson sold 3,725 shares of Johnson & Johnson 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 sale, 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. 0.16% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and increased their target price for the stock from $169.00 to $170.00 in a research report on Thursday. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Monday. Raymond James raised their price target on shares of Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, January 3rd. Royal Bank of Canada cut their price target on shares of Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Morgan Stanley cut their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock 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. Based on data from MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus target price of $175.86.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $145.74 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.16 and a quick ratio of 0.91. The firm has a market capitalization of $351.20 billion, a price-to-earnings ratio of 9.09, a P/E/G ratio of 2.40 and a beta of 0.53. The company’s fifty day moving average is $156.32 and its two-hundred day moving average is $155.68. 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 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 for the quarter, compared to analyst estimates of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.43%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the business posted $2.68 EPS. Equities research analysts forecast that Johnson & Johnson will post 10.65 EPS for the current year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be given a dividend of $1.24 per share. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Monday, May 20th. Johnson & Johnson’s payout ratio is 29.68%.

Johnson & Johnson 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.