Johnson & Johnson (NYSE:JNJ) Shares Sold by Titleist Asset Management LLC

Titleist Asset Management LLC trimmed its stake in shares of Johnson & Johnson (NYSE:JNJ) by 20.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,044 shares of the company’s stock after selling 2,857 shares during the quarter. Titleist Asset Management LLC’s holdings in Johnson & Johnson were worth $1,597,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of JNJ. IFS Advisors LLC boosted its holdings in Johnson & Johnson by 138.9% in the 4th 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. WealthTrak Capital Management LLC acquired a new stake in shares of Johnson & Johnson in the 4th quarter valued at approximately $26,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Johnson & Johnson in the fourth quarter valued at approximately $29,000. Bay Harbor Wealth Management LLC acquired a new position in Johnson & Johnson during the fourth quarter worth $32,000. Finally, Conquis Financial LLC purchased a new position in Johnson & Johnson in the fourth quarter worth $33,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Down 4.3 %

Shares of NYSE JNJ opened at $153.03 on Friday. The firm has a market cap of $368.77 billion, a P/E ratio of 23.01, a price-to-earnings-growth ratio of 2.56 and a beta of 0.47. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99. The firm’s 50 day moving average price is $159.75 and its 200 day moving average price is $155.84.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 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 business had revenue of $22.52 billion during the quarter, compared to the consensus estimate of $22.44 billion. During the same quarter in the previous year, the business earned $2.29 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current year.

Insider Activity at Johnson & Johnson

In other news, EVP Timothy Schmid sold 403 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total value of $62,928.45. Following the transaction, the executive vice president now directly owns 15,098 shares in the company, valued at $2,357,552.70. This trade represents a 2.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Robert J. Decker sold 6,999 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the sale, the vice president now directly owns 21,001 shares of the company’s stock, valued at approximately $3,483,645.88. This trade represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $181.00 price target on shares of Johnson & Johnson in a research note on Wednesday. Bank of America upped their target price on shares of Johnson & Johnson from $159.00 to $171.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 5th. Argus upgraded shares of Johnson & Johnson to a “strong-buy” rating in a research report on Friday, January 24th. Citigroup lowered their price target on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Finally, Wells Fargo & Company decreased their target price on 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. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average target price 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.