Palumbo Wealth Management LLC Sells 2,845 Shares of Johnson & Johnson (NYSE:JNJ)

Palumbo Wealth Management LLC lowered its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 18.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,670 shares of the company's stock after selling 2,845 shares during the quarter. Palumbo Wealth Management LLC's holdings in Johnson & Johnson were worth $1,832,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. State Street Corp increased its stake in shares of Johnson & Johnson by 0.9% in the third quarter. State Street Corp now owns 134,245,811 shares of the company's stock valued at $21,755,874,000 after purchasing an additional 1,154,088 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Johnson & Johnson by 1.8% in the third quarter. Geode Capital Management LLC now owns 56,106,884 shares of the company's stock valued at $9,064,149,000 after acquiring an additional 1,004,763 shares in the last quarter. FMR LLC boosted its holdings in shares of Johnson & Johnson by 7.4% in the third quarter. FMR LLC now owns 18,316,920 shares of the company's stock valued at $2,968,440,000 after acquiring an additional 1,265,748 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Johnson & Johnson by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company's stock valued at $2,858,543,000 after acquiring an additional 102,502 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Johnson & Johnson by 11.4% in the third quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company's stock valued at $2,721,355,000 after acquiring an additional 1,729,281 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on JNJ. Wolfe Research began coverage on shares of Johnson & Johnson in a report on Friday, November 15th. They issued an "outperform" rating and a $190.00 price objective for the company. Morgan Stanley decreased their price objective on shares of Johnson & Johnson from $175.00 to $163.00 and set an "equal weight" rating for the company in a report on Thursday, January 23rd. Argus upgraded shares of Johnson & Johnson to a "strong-buy" rating in a report on Friday, January 24th. Citigroup reduced their target price on shares of Johnson & Johnson from $185.00 to $175.00 and set a "buy" rating for the company in a report on Wednesday, December 11th. Finally, Guggenheim raised their target price on shares of Johnson & Johnson from $162.00 to $166.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Johnson & Johnson presently has an average rating of "Moderate Buy" and an average target price of $170.67.

Johnson & Johnson Trading Up 1.7 %

Johnson & Johnson stock traded up $2.67 during midday trading on Friday, reaching $162.35. The stock had a trading volume of 12,540,171 shares, compared to its average volume of 9,073,381. The firm's fifty day simple moving average is $148.61 and its two-hundred day simple moving average is $155.89. 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 0.43, a current ratio of 1.11 and a quick ratio of 0.86. The firm has a market cap of $390.87 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 2.53 and a beta of 0.52.

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

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be given a $1.24 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a yield of 3.06%. Johnson & Johnson's payout ratio is 74.59%.

Insiders Place Their Bets

In other Johnson & Johnson news, Director Mark A. Weinberger purchased 1,000 shares of the business's stock in a transaction dated Thursday, December 12th. The shares were acquired at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the acquisition, the director now owns 1,000 shares of the company's stock, valued at $147,220. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Timothy Schmid sold 403 shares of the firm's stock in a transaction on 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 owns 15,098 shares in the company, valued at $2,357,552.70. This represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.16% of the company's stock.

Johnson & Johnson Profile

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.