Johnson & Johnson (NYSE:JNJ) Shares Sold by Berkshire Asset Management LLC PA

Berkshire Asset Management LLC PA cut its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 3.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 252,174 shares of the company’s stock after selling 9,094 shares during the quarter. Johnson & Johnson comprises about 1.8% of Berkshire Asset Management LLC PA’s investment portfolio, making the stock its 23rd biggest holding. Berkshire Asset Management LLC PA’s holdings in Johnson & Johnson were worth $37,024,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in JNJ. IFS Advisors LLC boosted its position in shares of Johnson & Johnson by 138.9% in the fourth quarter. IFS Advisors LLC now owns 172 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in Johnson & Johnson during the third quarter worth approximately $35,000. Bay Harbor Wealth Management LLC purchased a new position in Johnson & Johnson during the fourth quarter worth approximately $32,000. Activest Wealth Management acquired a new position in shares of Johnson & Johnson in the 3rd quarter valued at $40,000. Finally, NewSquare Capital LLC grew its stake in shares of Johnson & Johnson by 145.8% during the 4th quarter. NewSquare Capital LLC now owns 290 shares of the company’s stock valued at $42,000 after buying an additional 172 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $166.81 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $169.99. The business has a 50 day moving average price of $152.95 and a two-hundred day moving average price of $156.30. The firm has a market cap of $401.61 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 2.56 and a beta of 0.47.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.05. The business 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 business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.29 earnings per share. Sell-side analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given a dividend of $1.24 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $4.96 annualized dividend and a dividend yield of 2.97%. Johnson & Johnson’s payout ratio is 74.59%.

Insider Buying and Selling

In other news, VP Robert J. Decker sold 6,999 shares of Johnson & Johnson stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total value of $1,160,994.12. Following the completion of the transaction, the vice president now owns 21,001 shares in the company, valued at approximately $3,483,645.88. This trade represents a 25.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $156.15, for a total value of $62,928.45. Following the sale, the executive vice president now directly owns 15,098 shares in the company, valued at approximately $2,357,552.70. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

JNJ has been the topic of a number of research analyst reports. Guggenheim lifted their target price on Johnson & Johnson from $162.00 to $166.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Wolfe Research started coverage on Johnson & Johnson in a research note on Friday, November 15th. They issued an “outperform” rating and a $190.00 price objective on the stock. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 25th. Bank of America lifted their price target on shares of Johnson & Johnson from $159.00 to $171.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Wells Fargo & Company dropped their price objective on shares of Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus price target of $171.33.

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.