Grant GrossMendelsohn LLC Sells 1,973 Shares of Johnson & Johnson (NYSE:JNJ)

Grant GrossMendelsohn LLC lessened its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 28.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,898 shares of the company's stock after selling 1,973 shares during the period. Grant GrossMendelsohn LLC's holdings in Johnson & Johnson were worth $708,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of JNJ. Summit Wealth Partners LLC grew its holdings in shares of Johnson & Johnson by 0.6% during the second quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company's stock valued at $1,463,000 after buying an additional 61 shares in the last quarter. Powers Advisory Group LLC boosted its position in 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 acquiring an additional 61 shares during the period. Eagle Wealth Strategies LLC grew its stake in Johnson & Johnson by 2.8% during the 3rd quarter. Eagle Wealth Strategies LLC now owns 2,294 shares of the company's stock valued at $372,000 after acquiring an additional 63 shares in the last quarter. Knuff & Co LLC increased 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 valued at $1,534,000 after purchasing an additional 64 shares during the period. Finally, Perkins Coie Trust Co lifted its position in shares of 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 purchasing an additional 65 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company's stock.

Insider Buying and Selling

In related news, Director Mark A. Weinberger purchased 1,000 shares of the firm's stock in a transaction on Thursday, December 12th. The shares were bought at an average cost of $147.22 per share, for a total transaction of $147,220.00. Following the transaction, the director now directly owns 1,000 shares of the company's stock, valued at approximately $147,220. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.16% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on JNJ. Morgan Stanley upped their price objective on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 16th. Wells Fargo & Company increased their price objective on Johnson & Johnson from $163.00 to $166.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 16th. Bank of America reduced their price objective on Johnson & Johnson from $166.00 to $160.00 and set a "neutral" rating for the company in a research report on Friday. Guggenheim raised their price target on Johnson & Johnson from $156.00 to $162.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada boosted their price target on Johnson & Johnson from $178.00 to $181.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $174.29.

Johnson & Johnson Stock Performance

NYSE:JNJ traded down $0.74 during midday trading on Friday, reaching $147.03. The stock had a trading volume of 10,678,393 shares, compared to its average volume of 6,880,262. The stock 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 company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $168.85. The firm's fifty day simple moving average is $148.51 and its 200-day simple moving average is $156.03.

Johnson & Johnson Announces Dividend

The firm 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 of this dividend is Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.37%. Johnson & Johnson's payout ratio is presently 71.78%.

Johnson & Johnson 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.