Somerset Trust Co Acquires 1,365 Shares of Johnson & Johnson (NYSE:JNJ)

Somerset Trust Co boosted its holdings in Johnson & Johnson (NYSE:JNJ) by 3.8% in the fourth quarter, HoldingsChannel reports. The firm owned 37,628 shares of the company’s stock after purchasing an additional 1,365 shares during the period. Johnson & Johnson makes up about 2.0% of Somerset Trust Co’s investment portfolio, making the stock its 13th biggest holding. Somerset Trust Co’s holdings in Johnson & Johnson were worth $5,442,000 as of its most recent filing with the SEC.

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

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $147.03 on Friday. The stock’s 50-day simple moving average is $148.51 and its two-hundred day simple moving average is $155.96. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $168.85. The firm has a market capitalization of $353.99 billion, a P/E ratio of 21.28, a P/E/G ratio of 2.30 and a beta of 0.51. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio is currently 71.78%.

Insiders Place Their Bets

In related news, Director Mark A. Weinberger acquired 1,000 shares of the stock in a transaction dated Thursday, December 12th. The shares were purchased at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the transaction, the director now owns 1,000 shares in the company, valued at $147,220. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on JNJ shares. StockNews.com cut Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Friday. Bank of America reduced their target price on shares of Johnson & Johnson from $166.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Royal Bank of Canada lifted their price objective on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley increased their target price on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $174.29.

About Johnson & Johnson

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.