Adell Harriman & Carpenter Inc. Sells 3,953 Shares of Johnson & Johnson (NYSE:JNJ)

Adell Harriman & Carpenter Inc. reduced its position in shares of Johnson & Johnson (NYSE:JNJ) by 9.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,944 shares of the company’s stock after selling 3,953 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Johnson & Johnson were worth $5,632,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AMF Tjanstepension AB grew its position in Johnson & Johnson by 14.2% during the third quarter. AMF Tjanstepension AB now owns 425,261 shares of the company’s stock valued at $68,985,000 after buying an additional 52,997 shares during the period. Alpha Financial Partners LLC purchased a new position in Johnson & Johnson in the third quarter valued at about $209,000. Wealth Group Ltd. purchased a new stake in shares of Johnson & Johnson during the 3rd quarter worth approximately $213,000. Swedbank AB raised its holdings in shares of Johnson & Johnson by 5.3% in the 3rd quarter. Swedbank AB now owns 2,215,108 shares of the company’s stock worth $358,980,000 after purchasing an additional 111,570 shares during the period. Finally, Schaper Benz & Wise Investment Counsel Inc. WI lifted its stake in Johnson & Johnson by 1.8% in the third quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 97,483 shares of the company’s stock valued at $15,798,000 after purchasing an additional 1,768 shares during the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $156.20 on Tuesday. Johnson & Johnson has a one year low of $140.68 and a one year high of $168.85. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. The firm has a market capitalization of $376.08 billion, a price-to-earnings ratio of 23.49, a PEG ratio of 2.46 and a beta of 0.52. The company’s fifty day moving average price is $147.87 and its 200-day moving average price is $155.95.

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, beating analysts’ consensus estimates of $1.99 by $0.05. The business had revenue of $22.52 billion for the quarter, compared to the consensus estimate of $22.44 billion. Johnson & Johnson had a return on equity of 34.35% and a net margin of 18.20%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted $2.29 earnings per share. On average, equities research analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Tuesday, February 18th. Johnson & Johnson’s payout ratio is currently 74.59%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on JNJ. Argus upgraded Johnson & Johnson to a “strong-buy” rating in a research note on Friday, January 24th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 25th. Leerink Partners cut their price objective on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Morgan Stanley lowered their target price on shares of Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Finally, Stifel Nicolaus decreased their price objective on Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $170.67.

Insiders Place Their Bets

In other Johnson & Johnson news, Director Mark A. Weinberger purchased 1,000 shares of the stock in a transaction on Thursday, December 12th. The stock was acquired at an average cost of $147.22 per share, with a total value of $147,220.00. Following the completion of the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $147,220. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Company Profile

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.