NorthCrest Asset Manangement LLC Cuts Stake in Johnson & Johnson (NYSE:JNJ)

NorthCrest Asset Manangement LLC cut its holdings in Johnson & Johnson (NYSE:JNJ) by 0.0% in the fourth quarter, Holdings Channel reports. The fund owned 232,716 shares of the company’s stock after selling 103 shares during the quarter. Johnson & Johnson accounts for approximately 1.0% of NorthCrest Asset Manangement LLC’s portfolio, making the stock its 17th largest position. NorthCrest Asset Manangement LLC’s holdings in Johnson & Johnson were worth $33,655,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JNJ. Vinva Investment Management Ltd grew its stake in Johnson & Johnson by 6.8% in the third quarter. Vinva Investment Management Ltd now owns 111,448 shares of the company’s stock valued at $17,988,000 after purchasing an additional 7,110 shares during the last quarter. Financial Counselors Inc. boosted its holdings in shares of Johnson & Johnson by 5.3% in the 3rd quarter. Financial Counselors Inc. now owns 185,093 shares of the company’s stock valued at $29,996,000 after buying an additional 9,309 shares in the last quarter. Meridian Investment Counsel Inc. grew its position in shares of Johnson & Johnson by 19.6% in the 3rd quarter. Meridian Investment Counsel Inc. now owns 22,629 shares of the company’s stock worth $3,667,000 after buying an additional 3,710 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Johnson & Johnson by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock worth $2,858,543,000 after acquiring an additional 102,502 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in Johnson & Johnson in the third quarter valued at approximately $69,859,000. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Stock Performance

NYSE JNJ traded up $0.72 on Friday, reaching $142.99. 2,889,769 shares of the company’s stock traded hands, compared to its average volume of 7,017,896. The stock has a 50 day moving average price of $150.03 and a 200-day moving average price of $156.04. The firm has a market cap of $344.27 billion, a price-to-earnings ratio of 20.69, a P/E/G ratio of 2.52 and a beta of 0.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $168.85.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. The firm had revenue of $22.47 billion for the quarter, compared to the consensus estimate of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.66 earnings per share. Equities research analysts predict that Johnson & Johnson will post 9.94 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio is currently 71.78%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada upped their price target on Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Guggenheim increased their price target on Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Bank of America restated a “neutral” rating and set a $166.00 price target on shares of Johnson & Johnson in a research note on Tuesday, December 10th. Wells Fargo & Company increased their price objective on shares of Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley upped their price target on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $174.71.

Insider Buying and Selling

In other Johnson & Johnson news, Director Mark A. Weinberger bought 1,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were purchased at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $147,220. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.16% of the stock is currently owned by 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.