Cohen Klingenstein LLC Has $19.15 Million Stake in Johnson & Johnson (NYSE:JNJ)

Cohen Klingenstein LLC lowered its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 8.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,397 shares of the company’s stock after selling 11,722 shares during the period. Johnson & Johnson comprises 0.7% of Cohen Klingenstein LLC’s portfolio, making the stock its 23rd largest holding. Cohen Klingenstein LLC’s holdings in Johnson & Johnson were worth $19,147,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of JNJ. Summit Wealth Partners LLC increased its stake in Johnson & Johnson by 0.6% in the second quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company’s stock valued at $1,463,000 after purchasing an additional 61 shares in the last quarter. Powers Advisory Group LLC grew its holdings in shares of Johnson & Johnson by 0.6% in the 3rd quarter. Powers Advisory Group LLC now owns 9,489 shares of the company’s stock valued at $1,538,000 after buying an additional 61 shares during the period. Eagle Wealth Strategies LLC increased its position in shares of Johnson & Johnson by 2.8% in the 3rd quarter. Eagle Wealth Strategies LLC now owns 2,294 shares of the company’s stock valued at $372,000 after buying an additional 63 shares in the last quarter. Knuff & Co LLC raised its stake in Johnson & Johnson by 0.7% during the 3rd quarter. Knuff & Co LLC now owns 9,466 shares of the company’s stock worth $1,534,000 after buying an additional 64 shares during the period. Finally, Perkins Coie Trust Co grew its stake in Johnson & Johnson by 1.8% in the third quarter. Perkins Coie Trust Co now owns 3,705 shares of the company’s stock valued at $600,000 after acquiring an additional 65 shares during the period. Institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on JNJ shares. Citigroup cut their price objective on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. StockNews.com cut shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Friday. Guggenheim raised their price objective on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Morgan Stanley upped their target price on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Bank of America dropped their price target on Johnson & Johnson from $166.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $174.29.

Insider Activity

In other Johnson & Johnson news, Director Mark A. Weinberger bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average cost of $147.22 per share, with a total value of $147,220.00. Following the acquisition, the director now owns 1,000 shares of the company’s stock, valued at $147,220. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is owned by insiders.

Johnson & Johnson Price Performance

NYSE:JNJ opened at $147.03 on Monday. The stock has a market capitalization of $353.99 billion, a PE ratio of 21.28, a P/E/G ratio of 2.30 and a beta of 0.51. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $168.85. The firm has a fifty day simple moving average of $148.51 and a 200 day simple moving average of $156.03. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be paid a dividend of $1.24 per share. The ex-dividend date is Tuesday, February 18th. This represents a $4.96 annualized dividend and a dividend yield of 3.37%. Johnson & Johnson’s dividend payout ratio is presently 71.78%.

Johnson & Johnson Company 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.