Palouse Capital Management Inc. Sells 624 Shares of Johnson & Johnson (NYSE:JNJ)

Palouse Capital Management Inc. reduced its position in shares of Johnson & Johnson (NYSE:JNJ) by 10.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 5,559 shares of the company’s stock after selling 624 shares during the quarter. Palouse Capital Management Inc.’s holdings in Johnson & Johnson were worth $871,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tower View Wealth Management LLC grew its holdings in shares of Johnson & Johnson by 183.3% during the third quarter. Tower View Wealth Management LLC now owns 255 shares of the company’s stock worth $40,000 after purchasing an additional 165 shares during the last quarter. Keener Financial Planning LLC bought a new stake in shares of Johnson & Johnson during the fourth quarter worth about $40,000. Creative Capital Management Investments LLC grew its holdings in shares of Johnson & Johnson by 43.0% during the third quarter. Creative Capital Management Investments LLC now owns 286 shares of the company’s stock worth $45,000 after purchasing an additional 86 shares during the last quarter. Altshuler Shaham Ltd grew its holdings in shares of Johnson & Johnson by 37.8% during the third quarter. Altshuler Shaham Ltd now owns 317 shares of the company’s stock worth $49,000 after purchasing an additional 87 shares during the last quarter. Finally, Mizuho Securities Co. Ltd. lifted its stake in shares of Johnson & Johnson by 216.7% in the third quarter. Mizuho Securities Co. Ltd. now owns 380 shares of the company’s stock worth $59,000 after acquiring an additional 260 shares during the period. 69.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 4,099,575 shares in the company, valued at $105,810,030.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Jennifer L. Taubert sold 59,397 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now owns 141,416 shares in the company, valued at $22,099,078.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction on 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 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. 0.16% of the stock is currently owned by corporate insiders.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $146.82 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.38. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $175.97. The stock’s 50 day moving average is $155.47 and its 200-day moving average is $155.41. The firm has a market capitalization of $353.80 billion, a price-to-earnings ratio of 9.15, a PEG ratio of 2.45 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $21.39 billion. During the same period in the prior year, the firm earned $2.68 earnings per share. Johnson & Johnson’s revenue for the quarter was up 2.3% on a year-over-year basis. Sell-side 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. Investors of record on Tuesday, May 21st will be issued a dividend of $1.24 per share. 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 an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio is 29.68%.

Wall Street Analysts Forecast Growth

JNJ has been the topic of a number of recent analyst reports. Raymond James lifted their price objective on Johnson & Johnson from $172.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 3rd. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $169.00 to $170.00 in a research note on Thursday, April 18th. Bank of America cut their price objective 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. Morgan Stanley cut their price objective on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada dropped their price target on 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 research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.86.

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.