Pallas Capital Advisors LLC Lowers Position in Johnson & Johnson (NYSE:JNJ)

Pallas Capital Advisors LLC decreased its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 35.5% in the 4th quarter, Holdings Channel reports. The firm owned 50,078 shares of the company’s stock after selling 27,532 shares during the period. Pallas Capital Advisors LLC’s holdings in Johnson & Johnson were worth $7,242,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Highline Wealth Partners LLC bought a new position in shares of Johnson & Johnson during the 3rd quarter valued at about $31,000. RPg Family Wealth Advisory LLC bought a new position in Johnson & Johnson during the third quarter valued at approximately $35,000. Mowery & Schoenfeld Wealth Management LLC raised its stake in shares of Johnson & Johnson by 58.7% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after acquiring an additional 91 shares in the last quarter. Activest Wealth Management bought a new stake in shares of Johnson & Johnson in the 3rd quarter worth approximately $40,000. Finally, Morton Brown Family Wealth LLC boosted its stake in shares of Johnson & Johnson by 400.0% in the 3rd quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock valued at $41,000 after purchasing an additional 200 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on JNJ. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Guggenheim increased their target price on Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Royal Bank of Canada lifted their price target on Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company raised their target price on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Finally, Bank of America reiterated a “neutral” rating and set a $166.00 price target on shares of Johnson & Johnson in a report on Tuesday, December 10th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $174.71.

Johnson & Johnson Trading Up 1.7 %

NYSE:JNJ opened at $144.50 on Tuesday. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $168.85. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $149.39 and a 200-day moving average price of $156.10. The stock has a market cap of $347.90 billion, a price-to-earnings ratio of 20.91, a P/E/G ratio of 2.52 and a beta of 0.51.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The business had revenue of $22.47 billion for the quarter, compared to analysts’ expectations of $22.17 billion. During the same period in the previous year, the firm posted $2.66 EPS. The business’s revenue was up 5.2% on a year-over-year basis. Equities analysts predict that Johnson & Johnson will post 9.94 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared 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. The ex-dividend date is Tuesday, February 18th. This represents a $4.96 annualized dividend and a yield of 3.43%. Johnson & Johnson’s payout ratio is 71.78%.

Insiders Place Their Bets

In other Johnson & Johnson news, Director Mark A. Weinberger bought 1,000 shares of Johnson & Johnson stock in a transaction dated Thursday, December 12th. The shares were purchased at an average cost of $147.22 per share, with a total value of $147,220.00. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at $147,220. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is owned by corporate insiders.

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.