Pacific Global Investment Management Co. Decreases Position in Johnson & Johnson (NYSE:JNJ)

Pacific Global Investment Management Co. lowered its position in shares of Johnson & Johnson (NYSE:JNJ) by 89.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 6,814 shares of the company’s stock after selling 60,570 shares during the quarter. Pacific Global Investment Management Co.’s holdings in Johnson & Johnson were worth $985,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Johnson & Johnson by 0.9% during the third quarter. State Street Corp now owns 134,245,811 shares of the company’s stock valued at $21,755,874,000 after purchasing an additional 1,154,088 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Johnson & Johnson by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 56,106,884 shares of the company’s stock valued at $9,064,149,000 after buying an additional 1,004,763 shares during the period. FMR LLC boosted its stake in shares of Johnson & Johnson by 7.4% in the 3rd quarter. FMR LLC now owns 18,316,920 shares of the company’s stock worth $2,968,440,000 after buying an additional 1,265,748 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Johnson & Johnson by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock valued at $2,858,543,000 after acquiring an additional 102,502 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Johnson & Johnson by 11.4% in the third quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock valued at $2,721,355,000 after acquiring an additional 1,729,281 shares during the period. 69.55% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Timothy Schmid sold 403 shares of Johnson & Johnson stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total transaction of $62,928.45. Following the completion of the sale, the executive vice president now owns 15,098 shares of the company’s stock, valued at approximately $2,357,552.70. The trade was a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark A. Weinberger acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average cost of $147.22 per share, for a total transaction of $147,220.00. Following the purchase, the director now owns 1,000 shares of the company’s stock, valued at $147,220. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Price Performance

JNJ stock opened at $165.48 on Wednesday. The stock has a market cap of $398.41 billion, a PE ratio of 24.88, a P/E/G ratio of 2.56 and a beta of 0.52. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99. The company has a 50-day moving average price of $151.73 and a 200 day moving average price of $156.12. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.05. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The business had revenue of $22.52 billion during the quarter, compared to analyst estimates of $22.44 billion. During the same quarter in the previous year, the business earned $2.29 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities research analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given a dividend of $1.24 per share. The ex-dividend date was Tuesday, February 18th. This represents a $4.96 annualized dividend and a dividend yield of 3.00%. Johnson & Johnson’s dividend payout ratio (DPR) is 74.59%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on JNJ. Bank of America reduced their price target on shares of Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating for the company in a research report on Thursday, January 23rd. Wells Fargo & Company dropped their price target on shares of Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Citigroup reduced their price objective on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $181.00 target price on shares of Johnson & Johnson in a research report on Wednesday, February 19th. Finally, Wolfe Research began coverage on Johnson & Johnson in a research report on Friday, November 15th. They issued an “outperform” rating and a $190.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $170.67.

Johnson & Johnson 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.