Berkshire Asset Management LLC PA Has $37.02 Million Holdings in Johnson & Johnson (NYSE:JNJ)

Berkshire Asset Management LLC PA reduced its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 3.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 252,174 shares of the company's stock after selling 9,094 shares during the period. Johnson & Johnson comprises about 1.8% of Berkshire Asset Management LLC PA's holdings, making the stock its 23rd largest holding. Berkshire Asset Management LLC PA's holdings in Johnson & Johnson were worth $37,024,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new stake in Johnson & Johnson in the 4th quarter worth approximately $1,339,878,000. Janus Henderson Group PLC increased its stake in shares of Johnson & Johnson by 228.1% in the third quarter. Janus Henderson Group PLC now owns 3,389,361 shares of the company's stock worth $549,223,000 after acquiring an additional 2,356,359 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Johnson & Johnson by 11.4% during the third quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company's stock worth $2,721,355,000 after acquiring an additional 1,729,281 shares in the last quarter. Holocene Advisors LP acquired a new stake in Johnson & Johnson during the third quarter valued at $225,040,000. Finally, FMR LLC grew its stake in Johnson & Johnson by 7.4% in the third quarter. FMR LLC now owns 18,316,920 shares of the company's stock valued at $2,968,440,000 after purchasing an additional 1,265,748 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other news, EVP Timothy Schmid sold 403 shares of the stock in a transaction on 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. This represents a 2.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Robert J. Decker sold 6,999 shares of Johnson & Johnson stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the sale, the vice president now owns 21,001 shares in the company, valued at approximately $3,483,645.88. This trade represents a 25.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company's stock.

Johnson & Johnson Stock Performance

Shares of JNJ traded up $0.98 during mid-day trading on Friday, hitting $166.81. The company's stock had a trading volume of 9,636,645 shares, compared to its average volume of 7,032,060. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99. The stock's 50-day moving average is $152.95 and its two-hundred day moving average is $156.28. The firm has a market capitalization of $401.61 billion, a PE ratio of 25.08, 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 (NYSE:JNJ - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.05. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The company had revenue of $22.52 billion for the quarter, compared to analyst estimates of $22.44 billion. During the same period last year, the business posted $2.29 EPS. The business's quarterly revenue was up 5.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were issued a $1.24 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $4.96 annualized dividend and a yield of 2.97%. Johnson & Johnson's dividend payout ratio (DPR) is 74.59%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Bank of America lifted their price target on Johnson & Johnson from $159.00 to $171.00 and gave the company a "neutral" rating in a report on Wednesday. Wells Fargo & Company decreased their target price on shares of Johnson & Johnson from $166.00 to $152.00 and set an "equal weight" rating for the company in a research report on Thursday, January 23rd. Morgan Stanley cut their price target on shares of Johnson & Johnson from $175.00 to $163.00 and set an "equal weight" rating on the stock in a report on Thursday, January 23rd. Royal Bank of Canada reiterated an "outperform" rating and issued a $181.00 price objective on shares of Johnson & Johnson in a report on Wednesday, February 19th. Finally, Wolfe Research began coverage on shares of Johnson & Johnson in a research report on Friday, November 15th. They set an "outperform" rating and a $190.00 target price on the stock. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Johnson & Johnson 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.