ProVise Management Group LLC Reduces Holdings in Johnson & Johnson (NYSE:JNJ)

ProVise Management Group LLC trimmed its position in shares of Johnson & Johnson (NYSE:JNJ) by 11.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,949 shares of the company’s stock after selling 1,427 shares during the quarter. ProVise Management Group LLC’s holdings in Johnson & Johnson were worth $1,583,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Enhancing Capital LLC purchased a new stake in Johnson & Johnson in the 4th quarter valued at $2,256,000. Xponance Inc. grew its holdings in Johnson & Johnson by 6.2% in the 4th quarter. Xponance Inc. now owns 389,251 shares of the company’s stock valued at $56,293,000 after buying an additional 22,578 shares in the last quarter. Boston Partners grew its holdings in Johnson & Johnson by 23.7% in the 4th quarter. Boston Partners now owns 2,263,067 shares of the company’s stock valued at $327,306,000 after buying an additional 433,607 shares in the last quarter. Intech Investment Management LLC grew its holdings in Johnson & Johnson by 14.1% in the 4th quarter. Intech Investment Management LLC now owns 121,824 shares of the company’s stock valued at $17,618,000 after buying an additional 15,098 shares in the last quarter. Finally, Horizon Investments LLC grew its holdings in Johnson & Johnson by 10.1% in the 4th quarter. Horizon Investments LLC now owns 25,627 shares of the company’s stock valued at $3,706,000 after buying an additional 2,361 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on JNJ. Raymond James dropped their target price on Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Leerink Partners decreased their price target on Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Citigroup decreased their price target on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $181.00 price target on shares of Johnson & Johnson in a research note on Wednesday, February 19th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Johnson & Johnson in a research note on Monday, March 10th. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $171.33.

Johnson & Johnson Price Performance

JNJ stock opened at $164.24 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.11 and a quick ratio of 0.86. The firm has a market capitalization of $395.80 billion, a P/E ratio of 24.70, a P/E/G ratio of 2.56 and a beta of 0.47. The business’s 50-day moving average is $155.73 and its two-hundred day moving average is $156.25. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.05. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The company had revenue of $22.52 billion for the quarter, compared to analyst estimates of $22.44 billion. During the same quarter last year, the company earned $2.29 EPS. Johnson & Johnson’s revenue for the quarter was up 5.3% compared to the same quarter last year. Analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a $1.24 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.02%. Johnson & Johnson’s payout ratio is currently 74.59%.

Insider Activity

In other news, VP Robert J. Decker sold 6,999 shares of the stock in a transaction dated 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 transaction, the vice president now owns 21,001 shares in the company, valued at approximately $3,483,645.88. This represents a 25.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Timothy Schmid sold 403 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total value of $62,928.45. Following the completion of the transaction, the executive vice president now owns 15,098 shares in the company, valued at approximately $2,357,552.70. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

About Johnson & Johnson

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.