Covington Investment Advisors Inc. decreased its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 6.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 50,644 shares of the company's stock after selling 3,652 shares during the quarter. Covington Investment Advisors Inc.'s holdings in Johnson & Johnson were worth $7,324,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in shares of Johnson & Johnson by 10.5% in the third quarter. Principal Financial Group Inc. now owns 3,472,312 shares of the company's stock valued at $562,723,000 after buying an additional 329,473 shares during the period. United Bank raised its holdings in Johnson & Johnson by 5.6% during the third quarter. United Bank now owns 3,788 shares of the company's stock worth $614,000 after acquiring an additional 202 shares in the last quarter. Algert Global LLC bought a new position in Johnson & Johnson in the third quarter valued at approximately $721,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Johnson & Johnson by 51.0% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 296,000 shares of the company's stock valued at $47,970,000 after buying an additional 100,000 shares during the last quarter. Finally, CreativeOne Wealth LLC grew its stake in shares of Johnson & Johnson by 37.7% in the third quarter. CreativeOne Wealth LLC now owns 16,700 shares of the company's stock valued at $2,706,000 after buying an additional 4,575 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other Johnson & Johnson news, VP Robert J. Decker sold 6,999 shares of the business's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total value of $1,160,994.12. Following the completion of the sale, the vice president now directly owns 21,001 shares of the company's stock, valued at $3,483,645.88. The trade was a 25.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Timothy Schmid sold 403 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total transaction of $62,928.45. Following the transaction, the executive vice president now directly owns 15,098 shares of the company's stock, valued at approximately $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.
Johnson & Johnson Price Performance
NYSE JNJ traded up $2.27 during trading hours on Monday, hitting $165.98. The company had a trading volume of 2,774,303 shares, compared to its average volume of 8,993,414. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99. The firm has a market capitalization of $399.99 billion, a price-to-earnings ratio of 24.96, a PEG 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. The firm has a 50 day simple moving average of $158.68 and a 200 day simple moving average of $156.07.
Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its 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. The business had revenue of $22.52 billion for 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 period in the prior year, the company posted $2.29 EPS. Equities research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.
Johnson & Johnson Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date was Tuesday, February 18th. Johnson & Johnson's dividend payout ratio is currently 74.59%.
Wall Street Analysts Forecast Growth
JNJ has been the subject of several research reports. Citigroup cut their price target on Johnson & Johnson from $185.00 to $175.00 and set a "buy" rating for the company in a report on Wednesday, December 11th. Royal Bank of Canada reiterated an "outperform" rating and issued a $181.00 price target on shares of Johnson & Johnson in a research note on Wednesday, February 19th. Bank of America boosted their price objective on Johnson & Johnson from $159.00 to $171.00 and gave the stock a "neutral" rating in a report on Wednesday, March 5th. Guggenheim reissued a "neutral" rating on shares of Johnson & Johnson in a report on Monday, March 10th. Finally, Raymond James decreased their price objective on Johnson & Johnson from $170.00 to $165.00 and set an "outperform" rating on the stock in a report on Thursday, January 23rd. Nine investment 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 company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $171.33.
Get Our Latest Analysis on Johnson & Johnson
About Johnson & Johnson
(
Free Report)
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.
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