Fagan Associates Inc. Lowers Stock Position in Johnson & Johnson (NYSE:JNJ)

Fagan Associates Inc. cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 1.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 51,747 shares of the company’s stock after selling 719 shares during the period. Johnson & Johnson accounts for approximately 1.2% of Fagan Associates Inc.’s holdings, making the stock its 25th biggest holding. Fagan Associates Inc.’s holdings in Johnson & Johnson were worth $7,484,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. State Street Corp grew its stake in shares of Johnson & Johnson by 0.9% during the 3rd quarter. State Street Corp now owns 134,245,811 shares of the company’s stock valued at $21,755,874,000 after buying an additional 1,154,088 shares during the period. Geode Capital Management LLC grew its stake in shares of Johnson & Johnson by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 56,106,884 shares of the company’s stock valued at $9,064,149,000 after buying an additional 1,004,763 shares during the period. FMR LLC grew its stake in shares of Johnson & Johnson by 7.4% during the 3rd quarter. FMR LLC now owns 18,316,920 shares of the company’s stock valued at $2,968,440,000 after buying an additional 1,265,748 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Johnson & Johnson by 0.6% during 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 acquiring an additional 102,502 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Johnson & Johnson by 11.4% during the 3rd 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. 69.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Johnson & Johnson

In related news, EVP Timothy Schmid sold 403 shares of the business’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 completion of the sale, the executive vice president now owns 15,098 shares of the company’s stock, valued at $2,357,552.70. This represents a 2.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark A. Weinberger acquired 1,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average cost of $147.22 per share, with a total value of $147,220.00. Following the transaction, the director now owns 1,000 shares in the company, valued at approximately $147,220. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Price Performance

JNJ opened at $162.35 on Friday. The company has a 50-day moving average of $148.93 and a 200-day moving average of $155.88. The company 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. Johnson & Johnson has a 1-year low of $140.68 and a 1-year 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.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, topping the consensus estimate 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 net margin of 18.20% and a return on equity of 34.24%. The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.29 EPS. Equities analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed 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. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio is presently 74.59%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on JNJ shares. Morgan Stanley reduced their target price on shares of Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Bank of America reduced their target price on shares of Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating on the stock in a report on Thursday, January 23rd. Stifel Nicolaus reduced their target price on shares of Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Citigroup reduced their target price on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Finally, Argus upgraded shares of Johnson & Johnson to a “strong-buy” rating in a report on Friday, January 24th. 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 company. According to data from MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus target price of $170.67.

About Johnson & Johnson

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.