Johnson & Johnson (NYSE:JNJ) Stock Holdings Lessened by Costello Asset Management INC

Costello Asset Management INC trimmed its position in shares of Johnson & Johnson (NYSE:JNJ) by 2.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,058 shares of the company’s stock after selling 971 shares during the period. Johnson & Johnson makes up approximately 5.9% of Costello Asset Management INC’s holdings, making the stock its 3rd biggest holding. Costello Asset Management INC’s holdings in Johnson & Johnson were worth $7,062,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of JNJ. Hibernia Wealth Partners LLC purchased a new stake in shares of Johnson & Johnson during the 3rd quarter worth approximately $27,000. Tower View Wealth Management LLC raised its holdings in shares of Johnson & Johnson by 183.3% during the 3rd quarter. Tower View Wealth Management LLC now owns 255 shares of the company’s stock worth $40,000 after acquiring an additional 165 shares in the last quarter. Keener Financial Planning LLC purchased a new stake in shares of Johnson & Johnson during the 4th quarter worth approximately $40,000. Creative Capital Management Investments LLC increased its position in shares of Johnson & Johnson by 43.0% during the 3rd 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 during the last quarter. Finally, Altshuler Shaham Ltd increased its position in shares of Johnson & Johnson by 37.8% during the 3rd quarter. Altshuler Shaham Ltd now owns 317 shares of the company’s stock valued at $49,000 after purchasing an additional 87 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

JNJ opened at $145.74 on Friday. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $175.97. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.38. The business’s fifty day simple moving average is $156.32 and its 200-day simple moving average is $155.68. The company has a market capitalization of $351.20 billion, a price-to-earnings ratio of 9.09, a PEG ratio of 2.40 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. The firm had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson had a return on equity of 36.43% and a net margin of 45.26%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.68 EPS. On average, equities research analysts anticipate that Johnson & Johnson will post 10.65 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be paid a dividend of $1.24 per share. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date is Monday, May 20th. Johnson & Johnson’s dividend payout ratio is 29.68%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on JNJ. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and boosted their target price for the company from $169.00 to $170.00 in a research report on Thursday. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 6th. Raymond James boosted their target price on Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, January 3rd. Royal Bank of Canada cut their target price on Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Bank of America cut their price objective on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $175.86.

Insider Buying and Selling

In related news, 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 sale, the insider now directly owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, 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 sale, the insider now directly owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jennifer L. Taubert sold 59,397 shares of the firm’s stock in a transaction dated 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 completion of 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 disclosure for this sale can be found here. 0.16% of the stock is currently owned by company insiders.

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.