Elk River Wealth Management LLC Sells 67 Shares of Johnson & Johnson (NYSE:JNJ)

Elk River Wealth Management LLC reduced its position in Johnson & Johnson (NYSE:JNJ) by 1.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,288 shares of the company’s stock after selling 67 shares during the period. Elk River Wealth Management LLC’s holdings in Johnson & Johnson were worth $765,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in JNJ. Vinva Investment Management Ltd lifted its position in shares of Johnson & Johnson by 6.8% in the 3rd quarter. Vinva Investment Management Ltd now owns 111,448 shares of the company’s stock worth $17,988,000 after purchasing an additional 7,110 shares during the period. Financial Counselors Inc. lifted its stake in shares of Johnson & Johnson by 5.3% during the 3rd quarter. Financial Counselors Inc. now owns 185,093 shares of the company’s stock worth $29,996,000 after purchasing an additional 9,309 shares during the last quarter. Oregon Pacific Wealth Management LLC purchased a new position in Johnson & Johnson in the fourth quarter valued at about $949,000. Meridian Investment Counsel Inc. lifted its position in shares of Johnson & Johnson by 19.6% during the third quarter. Meridian Investment Counsel Inc. now owns 22,629 shares of the company’s stock valued at $3,667,000 after buying an additional 3,710 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Johnson & Johnson by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock valued at $2,858,543,000 after buying an additional 102,502 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $162.35 on Friday. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $168.85. 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 market capitalization of $390.87 billion, a P/E ratio of 24.41, a PEG ratio of 2.56 and a beta of 0.52. The stock has a 50-day simple moving average of $148.93 and a two-hundred day simple moving average of $155.88.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.05. The company had revenue of $22.52 billion during the quarter, compared to the consensus estimate of $22.44 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. Johnson & Johnson’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.29 earnings per share. On average, equities analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $4.96 annualized dividend and a yield of 3.06%. Johnson & Johnson’s dividend payout ratio is presently 74.59%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on JNJ. Morgan Stanley decreased their target price on shares of Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Guggenheim upped their target price on Johnson & Johnson from $162.00 to $166.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Citigroup lowered 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. Wolfe Research assumed coverage on shares of Johnson & Johnson in a research report on Friday, November 15th. They issued an “outperform” rating and a $190.00 price objective for the company. Finally, Barclays boosted their target price on shares of Johnson & Johnson from $159.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 28th. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $170.67.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, Director Mark A. Weinberger acquired 1,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was acquired 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 directly owns 1,000 shares of the company’s stock, valued at $147,220. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy Schmid sold 403 shares of the company’s stock in a transaction that occurred on 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 directly owns 15,098 shares of the company’s stock, valued at approximately $2,357,552.70. The trade was 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 corporate insiders.

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.