CoreFirst Bank & Trust Invests $2.32 Million in Johnson & Johnson (NYSE:JNJ)

CoreFirst Bank & Trust purchased a new position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 16,066 shares of the company's stock, valued at approximately $2,323,000. Johnson & Johnson comprises about 1.4% of CoreFirst Bank & Trust's holdings, making the stock its 21st largest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vinva Investment Management Ltd grew its holdings in Johnson & Johnson by 6.8% during the third quarter. Vinva Investment Management Ltd now owns 111,448 shares of the company's stock valued at $17,988,000 after purchasing an additional 7,110 shares during the period. Financial Counselors Inc. grew its holdings in shares of Johnson & Johnson by 5.3% in the 3rd quarter. Financial Counselors Inc. now owns 185,093 shares of the company's stock valued at $29,996,000 after buying an additional 9,309 shares during the period. Oregon Pacific Wealth Management LLC acquired a new position in Johnson & Johnson in the 4th quarter worth $949,000. Horan Securities Inc. raised its stake in shares of Johnson & Johnson by 1.3% in the 4th quarter. Horan Securities Inc. now owns 7,178 shares of the company's stock valued at $1,038,000 after purchasing an additional 90 shares during the period. Finally, Strategic Financial Concepts LLC lifted its holdings in shares of Johnson & Johnson by 57.9% in the fourth quarter. Strategic Financial Concepts LLC now owns 3,467 shares of the company's stock valued at $501,000 after purchasing an additional 1,271 shares in the last quarter. 69.55% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on JNJ. Bank of America raised their price target on shares of Johnson & Johnson from $159.00 to $171.00 and gave the stock a "neutral" rating in a research note on Wednesday, March 5th. Wells Fargo & Company lowered 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 note on Thursday, January 23rd. Leerink Partners reduced their price objective on shares of Johnson & Johnson from $182.00 to $169.00 and set an "outperform" rating for the company in a research note on Thursday, January 23rd. Guggenheim reiterated a "neutral" rating on shares of Johnson & Johnson in a report on Monday, March 10th. Finally, Raymond James lowered their price target on Johnson & Johnson from $170.00 to $165.00 and set an "outperform" rating on the stock in a research report on Thursday, January 23rd. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $171.33.

Johnson & Johnson Price Performance

NYSE JNJ traded down $2.15 on Tuesday, hitting $161.14. 7,455,254 shares of the company's stock were exchanged, compared to its average volume of 7,088,162. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99. The stock has a market cap of $388.32 billion, a price-to-earnings ratio of 24.23, a P/E/G ratio of 2.56 and a beta of 0.47. The stock has a 50-day moving average of $157.37 and a 200-day moving average of $156.16.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, topping analysts' consensus estimates of $1.99 by $0.05. The firm had revenue of $22.52 billion during the quarter, compared to analysts' expectations of $22.44 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The business's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.29 earnings per share. Analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend was Tuesday, February 18th. Johnson & Johnson's dividend payout ratio is currently 74.59%.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 6,999 shares of the company'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 sale, the vice president now owns 21,001 shares in the company, valued at approximately $3,483,645.88. The trade was a 25.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 owns 15,098 shares of the company's stock, valued at $2,357,552.70. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.16% of the stock is owned by company insiders.

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.