Cannell & Spears LLC Has $24.32 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

Cannell & Spears LLC trimmed its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 1.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 168,142 shares of the company’s stock after selling 2,064 shares during the period. Cannell & Spears LLC’s holdings in Johnson & Johnson were worth $24,317,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Norges Bank bought a new position in Johnson & Johnson during the fourth quarter worth $4,390,037,000. Raymond James Financial Inc. acquired a new stake in shares of Johnson & Johnson in the 4th quarter valued at about $1,339,878,000. Janus Henderson Group PLC increased its position in Johnson & Johnson by 228.1% in the 3rd quarter. Janus Henderson Group PLC now owns 3,389,361 shares of the company’s stock valued at $549,223,000 after buying an additional 2,356,359 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Johnson & Johnson by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 232,792,559 shares of the company’s stock worth $33,666,460,000 after acquiring an additional 1,772,706 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Johnson & Johnson by 11.4% in the third quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock valued at $2,721,355,000 after acquiring an additional 1,729,281 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Up 0.3 %

JNJ opened at $163.63 on Monday. The company’s 50-day moving average price is $158.68 and its two-hundred day moving average price is $156.07. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. The stock has a market cap of $394.32 billion, a price-to-earnings ratio of 24.61, a PEG ratio of 2.56 and a beta of 0.47.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.05. The business had revenue of $22.52 billion during the quarter, compared to analyst estimates of $22.44 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. Johnson & Johnson’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.29 earnings per share. As a group, equities analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend was Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 74.59%.

Insider Transactions at Johnson & Johnson

In related news, EVP Timothy Schmid sold 403 shares of the business’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 sale, the executive vice president now directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Robert J. Decker sold 6,999 shares of the firm’s 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 completion of the transaction, the vice president now owns 21,001 shares of the company’s stock, valued at approximately $3,483,645.88. This represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on JNJ shares. Bank of America increased their target price on Johnson & Johnson from $159.00 to $171.00 and gave the stock a “neutral” rating in a report on Wednesday, March 5th. Raymond James dropped their price objective on shares of Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Guggenheim reissued a “neutral” rating on shares of Johnson & Johnson in a research report on Monday, March 10th. 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, Barclays boosted their price objective on Johnson & Johnson from $159.00 to $166.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 28th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average price target of $171.33.

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.