BlackDiamond Wealth Management LLC Sells 714 Shares of Johnson & Johnson (NYSE:JNJ)

BlackDiamond Wealth Management LLC cut its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 8.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,594 shares of the company’s stock after selling 714 shares during the quarter. BlackDiamond Wealth Management LLC’s holdings in Johnson & Johnson were worth $1,098,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in JNJ. Raymond James Financial Inc. bought a new stake in Johnson & Johnson during the 4th quarter worth about $1,339,878,000. Janus Henderson Group PLC raised its holdings in shares of Johnson & Johnson by 228.1% in the 3rd quarter. Janus Henderson Group PLC now owns 3,389,361 shares of the company’s stock valued at $549,223,000 after purchasing an additional 2,356,359 shares during the period. Franklin Resources Inc. raised its holdings in shares of Johnson & Johnson by 11.4% in the 3rd quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock valued at $2,721,355,000 after purchasing an additional 1,729,281 shares during the period. Amundi raised its holdings in shares of Johnson & Johnson by 16.2% in the 4th quarter. Amundi now owns 11,930,183 shares of the company’s stock valued at $1,698,984,000 after purchasing an additional 1,660,458 shares during the period. Finally, Holocene Advisors LP bought a new stake in shares of Johnson & Johnson in the 3rd quarter valued at about $225,040,000. 69.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on JNJ. Morgan Stanley dropped their target price on shares of Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Raymond James decreased their price target on shares of Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $181.00 price target on shares of Johnson & Johnson in a research note on Wednesday, February 19th. Guggenheim reiterated a “neutral” rating on shares of Johnson & Johnson in a research note on Monday, March 10th. Finally, Barclays upped their price target on shares of Johnson & Johnson from $159.00 to $166.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 28th. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $171.33.

Insider Activity at Johnson & Johnson

In related news, VP Robert J. Decker sold 6,999 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total value of $1,160,994.12. Following the completion of the transaction, the vice president now owns 21,001 shares of the company’s stock, valued at $3,483,645.88. This represents a 25.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy Schmid sold 403 shares of the 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 transaction, the executive vice president now directly 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 position. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $162.94 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $392.66 billion, a price-to-earnings ratio of 24.50, a P/E/G ratio of 2.56 and a beta of 0.47. The firm’s 50 day simple moving average is $155.37 and its 200 day simple moving average is $156.26. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.05. The business had revenue of $22.52 billion for the quarter, compared to analyst estimates of $22.44 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted $2.29 EPS. As a group, research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were paid a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend was Tuesday, February 18th. Johnson & Johnson’s payout ratio is 74.59%.

About Johnson & Johnson

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.