Essex LLC Lowers Holdings in Johnson & Johnson (NYSE:JNJ)

Essex LLC lowered its position in shares of Johnson & Johnson (NYSE:JNJ) by 6.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,489 shares of the company’s stock after selling 2,051 shares during the quarter. Johnson & Johnson accounts for 0.8% of Essex LLC’s investment portfolio, making the stock its 28th largest holding. Essex LLC’s holdings in Johnson & Johnson were worth $3,975,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Stephens Inc. AR lifted its stake in shares of Johnson & Johnson by 0.4% in the fourth quarter. Stephens Inc. AR now owns 202,348 shares of the company’s stock valued at $29,264,000 after purchasing an additional 793 shares during the period. Rede Wealth LLC boosted its position in Johnson & Johnson by 0.5% during the fourth quarter. Rede Wealth LLC now owns 38,258 shares of the company’s stock worth $5,533,000 after purchasing an additional 173 shares in the last quarter. Family Capital Trust Co grew its holdings in Johnson & Johnson by 1.6% in the fourth quarter. Family Capital Trust Co now owns 41,486 shares of the company’s stock valued at $6,000,000 after purchasing an additional 661 shares during the last quarter. Summit Wealth & Retirement Planning Inc. increased its position in shares of Johnson & Johnson by 33.2% in the fourth quarter. Summit Wealth & Retirement Planning Inc. now owns 2,045 shares of the company’s stock valued at $296,000 after buying an additional 510 shares in the last quarter. Finally, Richard C. Young & CO. LTD. raised its stake in shares of Johnson & Johnson by 0.6% during the 4th quarter. Richard C. Young & CO. LTD. now owns 74,683 shares of the company’s stock worth $10,801,000 after buying an additional 467 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Leerink Partners dropped their target price on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Barclays lifted their target price on shares of Johnson & Johnson from $159.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 28th. Bank of America decreased their price objective on Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating on the stock in a report on Thursday, January 23rd. Argus upgraded Johnson & Johnson to a “strong-buy” rating in a research report on Friday, January 24th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $181.00 price objective on shares of Johnson & Johnson in a research note on Thursday, January 23rd. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average target price of $170.67.

Insider Buying and Selling

In related news, Director Mark A. Weinberger purchased 1,000 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were purchased at an average cost of $147.22 per share, with a total value of $147,220.00. Following the completion of the acquisition, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $147,220. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Price Performance

JNJ stock opened at $155.23 on Thursday. The stock has a 50-day simple moving average of $147.48 and a 200-day simple moving average of $156.01. The firm has a market cap of $373.73 billion, a P/E ratio of 23.34, a price-to-earnings-growth ratio of 2.46 and a beta of 0.52. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $168.85.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data 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. The company had revenue of $22.52 billion for the quarter, compared to analyst estimates of $22.44 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.35%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.29 earnings per share. On average, equities analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Tuesday, February 18th. Johnson & Johnson’s payout ratio is 74.59%.

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.