Viking Fund Management LLC cut its holdings in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 16.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,000 shares of the company’s stock after selling 6,000 shares during the period. Viking Fund Management LLC’s holdings in Johnson & Johnson were worth $5,300,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in JNJ. Glassy Mountain Advisors Inc. acquired a new position in Johnson & Johnson during the 4th quarter valued at approximately $35,000. Retirement Financial Solutions LLC purchased a new stake in shares of Johnson & Johnson during the fourth quarter valued at $40,000. TD Capital Management LLC acquired a new position in shares of Johnson & Johnson in the 3rd quarter valued at $48,000. VitalStone Financial LLC purchased a new position in Johnson & Johnson in the 4th quarter worth $52,000. Finally, Iron Horse Wealth Management LLC grew its stake in Johnson & Johnson by 112.8% during the 4th quarter. Iron Horse Wealth Management LLC now owns 300 shares of the company’s stock valued at $53,000 after purchasing an additional 159 shares during the last quarter. Institutional investors and hedge funds own 67.94% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently commented on JNJ. UBS Group started coverage on Johnson & Johnson in a report on Tuesday, March 28th. They set a “neutral” rating and a $164.00 target price for the company. Raymond James dropped their price objective on shares of Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating on the stock in a report on Wednesday, April 19th. Guggenheim started coverage on shares of Johnson & Johnson in a report on Tuesday, February 28th. They set a “neutral” rating and a $161.00 target price for the company. Atlantic Securities lowered their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating on the stock in a report on Wednesday, April 19th. Finally, SVB Leerink decreased their price objective on Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating for the company in a report on Friday, January 20th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $173.00.
Johnson & Johnson Trading Down 1.5 %
Johnson & Johnson (NYSE:JNJ – Get Rating) last posted its quarterly earnings data on Tuesday, April 18th. The company reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.51 by $0.17. The company had revenue of $24.75 billion during the quarter, compared to analysts’ expectations of $23.61 billion. Johnson & Johnson had a net margin of 13.22% and a return on equity of 35.53%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.67 earnings per share. On average, equities research analysts expect that Johnson & Johnson will post 10.67 EPS for the current fiscal year.
Johnson & Johnson Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders of record on Tuesday, May 23rd will be paid a dividend of $1.19 per share. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.13. This represents a $4.76 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Monday, May 22nd. Johnson & Johnson’s payout ratio is 94.56%.
Insider Activity
In related news, insider James D. Swanson sold 1,062 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $154.66, for a total transaction of $164,248.92. Following the completion of the sale, the insider now directly owns 9,215 shares in the company, valued at $1,425,191.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.20% of the company’s stock.
Johnson & Johnson Company Profile
Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer Health, Pharmaceutical, and MedTech. The Consumer Health segment includes products focused on personal healthcare used in the Skin Health/Beauty, Over-the-Counter medicines, Baby Care, Oral Care, Women’s Health and Wound Care markets.
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