Cohen Klingenstein LLC Lowers Stock Position in Johnson & Johnson (NYSE:JNJ)

Cohen Klingenstein LLC trimmed its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 8.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 132,397 shares of the company's stock after selling 11,722 shares during the period. Johnson & Johnson comprises about 0.7% of Cohen Klingenstein LLC's portfolio, making the stock its 23rd biggest position. Cohen Klingenstein LLC's holdings in Johnson & Johnson were worth $19,147,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in JNJ. Howard Financial Services LTD. lifted its holdings in Johnson & Johnson by 34.3% during the 4th quarter. Howard Financial Services LTD. now owns 4,950 shares of the company's stock worth $716,000 after buying an additional 1,265 shares during the last quarter. Alhambra Investment Management LLC increased its stake in Johnson & Johnson by 1.3% in the fourth quarter. Alhambra Investment Management LLC now owns 9,087 shares of the company's stock valued at $1,314,000 after purchasing an additional 120 shares during the last quarter. Verity & Verity LLC raised its holdings in Johnson & Johnson by 10.5% during the fourth quarter. Verity & Verity LLC now owns 106,085 shares of the company's stock worth $15,342,000 after purchasing an additional 10,050 shares in the last quarter. Integrated Investment Consultants LLC lifted its position in Johnson & Johnson by 10.8% in the fourth quarter. Integrated Investment Consultants LLC now owns 72,382 shares of the company's stock valued at $10,468,000 after acquiring an additional 7,070 shares during the last quarter. Finally, Spring Capital Management LLC grew its holdings in shares of Johnson & Johnson by 11.7% during the fourth quarter. Spring Capital Management LLC now owns 44,932 shares of the company's stock worth $6,498,000 after purchasing an additional 4,691 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on JNJ shares. Wolfe Research started coverage on Johnson & Johnson in a research report on Friday, November 15th. They issued an "outperform" rating and a $190.00 target price for the company. Citigroup decreased their price objective 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 lifted their target price on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Morgan Stanley increased their price target on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 16th. Finally, Guggenheim upped their target price on shares of Johnson & Johnson from $156.00 to $162.00 and gave the company a "neutral" rating in a report on Wednesday, November 6th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $174.29.

Insiders Place Their Bets

In other Johnson & Johnson news, Director Mark A. Weinberger bought 1,000 shares of Johnson & Johnson stock in a transaction that occurred on Thursday, December 12th. The shares were purchased at an average cost of $147.22 per share, for a total transaction of $147,220.00. Following the completion of the transaction, the director now owns 1,000 shares of the company's stock, valued at $147,220. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is owned by corporate insiders.

Johnson & Johnson Price Performance

Johnson & Johnson stock traded down $0.74 during mid-day trading on Monday, hitting $147.03. 10,678,393 shares of the company were exchanged, compared to its average volume of 6,880,262. 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 12-month low of $140.68 and a 12-month high of $168.85. The business's 50 day simple moving average is $148.51 and its two-hundred day simple moving average is $156.10. The company 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.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be issued 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 yield of 3.37%. Johnson & Johnson's dividend payout ratio (DPR) is 71.78%.

About Johnson & Johnson

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.