Carnegie Investment Counsel Reduces Position in Johnson & Johnson (NYSE:JNJ)

Carnegie Investment Counsel cut its position in shares of Johnson & Johnson (NYSE:JNJ) by 3.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 128,659 shares of the company’s stock after selling 5,175 shares during the period. Carnegie Investment Counsel’s holdings in Johnson & Johnson were worth $18,607,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. State Street Corp boosted 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 worth $21,755,874,000 after purchasing an additional 1,154,088 shares during the period. Geode Capital Management LLC boosted 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 worth $9,064,149,000 after purchasing an additional 1,004,763 shares during the period. FMR LLC boosted its position in Johnson & Johnson by 7.4% in 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. boosted its position in 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 during the period. Finally, Franklin Resources Inc. boosted its position in Johnson & Johnson by 11.4% in the 3rd quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock valued at $2,721,355,000 after buying an additional 1,729,281 shares during the period. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Trading Down 0.5 %

NYSE:JNJ opened at $147.03 on Friday. The firm has a 50 day moving average of $148.68 and a 200 day moving average of $155.96. The stock has a market capitalization of $353.99 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 2.30 and a beta of 0.51. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $168.85. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. The business had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $2.66 earnings per share. As a group, sell-side analysts anticipate that Johnson & Johnson will post 9.94 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently declared 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 dividend yield of 3.37%. Johnson & Johnson’s dividend payout ratio is currently 71.78%.

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 stock was purchased at an average price of $147.22 per share, with a total value of $147,220.00. Following the completion of the acquisition, the director now directly owns 1,000 shares in the company, valued at approximately $147,220. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on JNJ shares. Wolfe Research started 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Morgan Stanley boosted 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 report on Wednesday, October 16th. Royal Bank of Canada upped their price target on shares of Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, StockNews.com cut shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Friday. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $174.29.

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.