Patriot Investment Management Group Inc. Has $2.09 Million Stake in Johnson & Johnson (NYSE:JNJ)

Patriot Investment Management Group Inc. trimmed its stake in shares of Johnson & Johnson (NYSE:JNJ) by 19.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,323 shares of the company’s stock after selling 3,142 shares during the period. Patriot Investment Management Group Inc.’s holdings in Johnson & Johnson were worth $2,088,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Hibernia Wealth Partners LLC bought a new position in Johnson & Johnson in the third quarter valued at $27,000. FNY Investment Advisers LLC bought a new position in Johnson & Johnson in the third quarter valued at $37,000. Tower View Wealth Management LLC grew its position in Johnson & Johnson by 183.3% in the third quarter. Tower View Wealth Management LLC now owns 255 shares of the company’s stock valued at $40,000 after purchasing an additional 165 shares in the last quarter. Creative Capital Management Investments LLC grew its position in Johnson & Johnson by 43.0% in the third quarter. Creative Capital Management Investments LLC now owns 286 shares of the company’s stock valued at $45,000 after purchasing an additional 86 shares in the last quarter. Finally, VitalStone Financial LLC bought a new position in Johnson & Johnson in the second quarter valued at $48,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Trading Up 0.1 %

JNJ opened at $158.17 on Friday. Johnson & Johnson has a fifty-two week low of $144.95 and a fifty-two week high of $175.97. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.16 and a quick ratio of 0.91. The firm has a market capitalization of $381.15 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 2.62 and a beta of 0.53. The company’s 50 day moving average price is $158.71 and its two-hundred day moving average price is $156.69.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, January 23rd. The company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.28 by $0.01. Johnson & Johnson had a net margin of 37.79% and a return on equity of 37.27%. The firm had revenue of $21.40 billion for the quarter, compared to analyst estimates of $21.02 billion. During the same period in the previous year, the firm posted $2.35 EPS. The company’s revenue for the quarter was down 9.7% compared to the same quarter last year. As a group, research analysts predict that Johnson & Johnson will post 10.65 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Stockholders of record on Tuesday, February 20th were paid a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend was Friday, February 16th. Johnson & Johnson’s dividend payout ratio is currently 34.47%.

Insider Activity

In other news, EVP Jennifer L. Taubert sold 59,397 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $156.27, for a total value of $9,281,969.19. Following the sale, the executive vice president now directly owns 141,416 shares of the company’s stock, valued at approximately $22,099,078.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.81, for a total transaction of $96,142.25. Following the transaction, the insider now owns 4,099,575 shares in the company, valued at $105,810,030.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jennifer L. Taubert sold 59,397 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the transaction, the executive vice president now owns 141,416 shares in the company, valued at approximately $22,099,078.32. 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 subject of a number of analyst reports. Raymond James lifted their price objective on shares of Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, January 3rd. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 6th. Wells Fargo & Company downgraded shares of Johnson & Johnson from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $170.00 to $163.00 in a research report on Wednesday, December 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $181.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, February 28th. Finally, Morgan Stanley decreased their price objective on shares of Johnson & Johnson from $170.00 to $169.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. Seven analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $177.31.

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.