Spinnaker Trust Reduces Stock Position in Johnson & Johnson (NYSE:JNJ)

Spinnaker Trust trimmed its holdings in Johnson & Johnson (NYSE:JNJ) by 5.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,685 shares of the company’s stock after selling 2,236 shares during the period. Spinnaker Trust’s holdings in Johnson & Johnson were worth $6,534,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in JNJ. Pathway Financial Advisors LLC lifted its stake in Johnson & Johnson by 4.3% in the 4th quarter. Pathway Financial Advisors LLC now owns 5,438 shares of the company’s stock worth $852,000 after purchasing an additional 226 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Johnson & Johnson by 5.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 297,850 shares of the company’s stock worth $46,685,000 after buying an additional 15,490 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co boosted its stake in Johnson & Johnson by 0.6% during the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 75,495 shares of the company’s stock valued at $11,758,000 after buying an additional 414 shares during the period. OneAscent Financial Services LLC grew its position in Johnson & Johnson by 82.8% during the fourth quarter. OneAscent Financial Services LLC now owns 9,838 shares of the company’s stock worth $1,542,000 after buying an additional 4,457 shares in the last quarter. Finally, TrueMark Investments LLC bought a new position in Johnson & Johnson in the 4th quarter worth about $1,458,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insider Activity at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 59,397 shares of Johnson & Johnson stock in a transaction that occurred on Friday, February 9th. The stock was 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 in the company, valued at approximately $22,099,078.32. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Jennifer L. Taubert sold 59,397 shares of Johnson & Johnson 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 owns 141,416 shares in the company, valued at $22,099,078.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the completion of the transaction, the insider now owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The disclosure for this sale can be found here. 0.16% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on JNJ shares. Royal Bank of Canada dropped their price target on Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Monday, April 15th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 6th. Raymond James increased their target price on Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, January 3rd. Finally, Morgan Stanley dropped their price target on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $175.86.

Johnson & Johnson Price Performance

JNJ opened at $151.16 on Thursday. 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 stock’s 50 day simple moving average is $154.65 and its 200 day simple moving average is $155.11. The firm has a market cap of $364.26 billion, a price-to-earnings ratio of 9.42, a PEG ratio of 2.42 and a beta of 0.53. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $175.97.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.64 by $0.07. The company had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.43%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.68 earnings per share. As a group, analysts predict that Johnson & Johnson will post 10.65 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be paid a $1.24 dividend. The ex-dividend date is Monday, May 20th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a dividend yield of 3.28%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 29.68%.

Johnson & Johnson Profile

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.