Carnegie Investment Counsel Cuts Stake in Johnson & Johnson (NYSE:JNJ)

Carnegie Investment Counsel lowered its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 3.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 128,659 shares of the company's stock after selling 5,175 shares during the quarter. Carnegie Investment Counsel's holdings in Johnson & Johnson were worth $18,607,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Summit Wealth Partners LLC lifted its holdings in shares of Johnson & Johnson by 0.6% during the 2nd quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company's stock worth $1,463,000 after acquiring an additional 61 shares during the period. Powers Advisory Group LLC raised its stake in Johnson & Johnson by 0.6% during the third quarter. Powers Advisory Group LLC now owns 9,489 shares of the company's stock worth $1,538,000 after acquiring an additional 61 shares in the last quarter. Eagle Wealth Strategies LLC boosted its stake 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 valued at $372,000 after purchasing an additional 63 shares in the last quarter. Knuff & Co LLC grew its holdings in shares of Johnson & Johnson by 0.7% in the 3rd quarter. Knuff & Co LLC now owns 9,466 shares of the company's stock worth $1,534,000 after purchasing an additional 64 shares during the last quarter. Finally, Perkins Coie Trust Co grew its holdings in shares of Johnson & Johnson by 1.8% in the 3rd quarter. Perkins Coie Trust Co now owns 3,705 shares of the company's stock worth $600,000 after purchasing an additional 65 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on JNJ. Royal Bank of Canada raised their target price on Johnson & Johnson from $178.00 to $181.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Bank of America lowered their target price on Johnson & Johnson from $166.00 to $160.00 and set a "neutral" rating for the company in a report on Friday. Morgan Stanley increased their price target on Johnson & Johnson from $169.00 to $175.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 16th. Guggenheim increased their price target on Johnson & Johnson from $156.00 to $162.00 and gave the company a "neutral" rating in a research note on Wednesday, November 6th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $174.29.

Johnson & Johnson Trading Down 0.5 %

Shares of Johnson & Johnson stock traded down $0.74 on Friday, hitting $147.03. The stock had a trading volume of 10,678,393 shares, compared to its average volume of 6,880,262. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $168.85. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. The firm has a market capitalization of $353.99 billion, a P/E ratio of 21.28, a PEG ratio of 2.30 and a beta of 0.51. The stock has a 50 day moving average of $148.51 and a 200 day moving average of $155.96.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The firm had revenue of $22.47 billion for the quarter, compared to the consensus estimate of $22.17 billion. During the same quarter in the previous year, the company earned $2.66 EPS. The company's revenue for the quarter was up 5.2% on a year-over-year basis. Sell-side analysts expect that Johnson & Johnson will post 9.94 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

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

Insider Activity

In related news, Director Mark A. Weinberger purchased 1,000 shares of the business's stock in a transaction on Thursday, December 12th. The stock was acquired at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the purchase, the director now owns 1,000 shares of the company's stock, valued at approximately $147,220. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.16% of the company's stock.

Johnson & Johnson Company Profile

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.