Patten & Patten Inc. TN Lowers Holdings in Johnson & Johnson (NYSE:JNJ)

Patten & Patten Inc. TN decreased its holdings in Johnson & Johnson (NYSE:JNJ) by 2.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 95,416 shares of the company’s stock after selling 2,369 shares during the quarter. Johnson & Johnson accounts for about 0.9% of Patten & Patten Inc. TN’s holdings, making the stock its 28th biggest holding. Patten & Patten Inc. TN’s holdings in Johnson & Johnson were worth $13,799,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in JNJ. IFS Advisors LLC boosted its stake in shares of Johnson & Johnson by 138.9% in the fourth quarter. IFS Advisors LLC now owns 172 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares during the period. Bay Harbor Wealth Management LLC purchased a new position in shares of Johnson & Johnson in the fourth quarter valued at approximately $32,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Johnson & Johnson in the third quarter valued at approximately $35,000. Activest Wealth Management purchased a new position in Johnson & Johnson in the third quarter worth approximately $40,000. Finally, NewSquare Capital LLC lifted its stake in Johnson & Johnson by 145.8% in the fourth quarter. NewSquare Capital LLC now owns 290 shares of the company’s stock worth $42,000 after acquiring an additional 172 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock opened at $162.94 on Friday. The firm’s fifty day simple moving average is $154.98 and its 200-day simple moving average is $156.32. The stock has a market capitalization of $392.29 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 2.56 and a beta of 0.47. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99. 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 (NYSE:JNJ) last announced its earnings results on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.05. The business had revenue of $22.52 billion for the quarter, compared to analysts’ expectations of $22.44 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.29 EPS. As a group, equities analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were paid a $1.24 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $4.96 annualized dividend and a yield of 3.04%. Johnson & Johnson’s dividend payout ratio is currently 74.59%.

Insider Buying and Selling at Johnson & Johnson

In other news, VP Robert J. Decker sold 6,999 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the transaction, the vice president now directly owns 21,001 shares of the company’s stock, valued at $3,483,645.88. This represents a 25.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Timothy Schmid sold 403 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total transaction 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 trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

JNJ has been the subject of a number of recent research reports. Morgan Stanley decreased their price target on shares of Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Wells Fargo & Company decreased their price target on shares of Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $181.00 price target on shares of Johnson & Johnson in a research note on Wednesday, February 19th. Bank of America lifted their price target on shares of Johnson & Johnson from $159.00 to $171.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 5th. Finally, Stifel Nicolaus decreased their price target on shares of Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $171.33.

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.