Convergence Financial LLC Sells 344 Shares of Johnson & Johnson (NYSE:JNJ)

Convergence Financial LLC cut its holdings in Johnson & Johnson (NYSE:JNJ) by 6.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,101 shares of the company’s stock after selling 344 shares during the period. Convergence Financial LLC’s holdings in Johnson & Johnson were worth $738,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. IFS Advisors LLC increased its stake in 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 in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in shares of Johnson & Johnson in the 3rd quarter valued at about $35,000. Bay Harbor Wealth Management LLC bought a new stake in Johnson & Johnson in the 4th quarter valued at about $32,000. Activest Wealth Management acquired a new position in Johnson & Johnson during the 3rd quarter worth approximately $40,000. Finally, Fiduciary Advisors Inc. bought a new position in Johnson & Johnson in the fourth quarter worth approximately $43,000. 69.55% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Robert J. Decker sold 6,999 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total value 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 $3,483,645.88. This trade represents a 25.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Weinberger purchased 1,000 shares of Johnson & Johnson stock in a transaction dated Thursday, December 12th. The stock was bought at an average price of $147.22 per share, with a total value of $147,220.00. Following the completion of the transaction, the director now owns 1,000 shares of the company’s stock, valued at $147,220. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

JNJ has been the topic of a number of research reports. Morgan Stanley lowered their target price on Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Wolfe Research initiated coverage on shares of Johnson & Johnson in a report on Friday, November 15th. They set an “outperform” rating and a $190.00 price objective on the stock. Barclays lifted their price objective on shares of Johnson & Johnson from $159.00 to $166.00 and gave the company an “equal weight” rating in a report on Tuesday, January 28th. Wells Fargo & Company dropped their price target on shares of Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Finally, Citigroup decreased their price objective on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Nine 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. According to data from MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and an average price target of $170.67.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $165.23 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. The company has a market capitalization of $397.81 billion, a PE ratio of 24.85, a price-to-earnings-growth ratio of 2.56 and a beta of 0.52. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $168.85. The company has a 50-day simple moving average of $150.90 and a 200 day simple moving average of $156.04.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.05. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The company had revenue of $22.52 billion for the quarter, compared to analysts’ expectations of $22.44 billion. During the same quarter in the previous year, the firm posted $2.29 EPS. Johnson & Johnson’s revenue was up 5.3% on a year-over-year basis. On average, research analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

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

Johnson & Johnson Company 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.