Johnson & Johnson (NYSE:JNJ) Shares Sold by Westchester Capital Management Inc.

Westchester Capital Management Inc. decreased its position in Johnson & Johnson (NYSE:JNJ) by 1.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 62,209 shares of the company’s stock after selling 1,117 shares during the quarter. Johnson & Johnson comprises about 2.3% of Westchester Capital Management Inc.’s holdings, making the stock its 19th largest position. Westchester Capital Management Inc.’s holdings in Johnson & Johnson were worth $8,997,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. IFS Advisors LLC raised its stake in Johnson & Johnson by 138.9% in the 4th quarter. IFS Advisors LLC now owns 172 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. Bay Harbor Wealth Management LLC acquired a new position in shares of Johnson & Johnson during the 4th quarter valued at about $32,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Johnson & Johnson during the 3rd quarter valued at about $35,000. Activest Wealth Management acquired a new position in shares of Johnson & Johnson during the 3rd quarter valued at about $40,000. Finally, NewSquare Capital LLC increased 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 acquiring an additional 172 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Down 1.1 %

Shares of Johnson & Johnson stock opened at $165.86 on Wednesday. The firm has a market cap of $399.33 billion, a price-to-earnings ratio of 24.94, a P/E/G ratio of 2.56 and a beta of 0.47. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.11 and a quick ratio of 0.86. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $169.99. The stock has a 50-day simple moving average of $153.86 and a 200-day simple moving average of $156.29.

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 the consensus estimate of $1.99 by $0.05. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The business had revenue of $22.52 billion during the quarter, compared to analyst estimates of $22.44 billion. During the same period in the previous year, the company earned $2.29 EPS. The firm’s revenue was up 5.3% on a year-over-year basis. On average, equities research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were issued a $1.24 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $4.96 annualized dividend and a yield of 2.99%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 74.59%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $181.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, February 19th. Stifel Nicolaus decreased their target price on Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Bank of America upped their price target on Johnson & Johnson from $159.00 to $171.00 and gave the stock a “neutral” rating in a report on Wednesday, March 5th. Guggenheim reaffirmed a “neutral” rating on shares of Johnson & Johnson in a research report on Monday. Finally, Wolfe Research initiated coverage on Johnson & Johnson in a research report on Friday, November 15th. They issued an “outperform” rating and a $190.00 target price on the stock. Nine equities research 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 stock. According to MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average price target of $171.33.

Insider Buying and Selling

In other news, Director Mark A. Weinberger acquired 1,000 shares of the stock in a transaction dated Thursday, December 12th. The shares were 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 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 legal filing with the SEC, which is accessible through the SEC website. Also, VP Robert J. Decker sold 6,999 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total value of $1,160,994.12. Following the sale, the vice president now owns 21,001 shares in the company, valued at approximately $3,483,645.88. This represents a 25.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

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.