Progressive Investment Management Corp Sells 97 Shares of Johnson & Johnson (NYSE:JNJ)

Progressive Investment Management Corp decreased its stake in shares of Johnson & Johnson (NYSE:JNJ) by 1.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,362 shares of the company’s stock after selling 97 shares during the quarter. Progressive Investment Management Corp’s holdings in Johnson & Johnson were worth $1,354,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in shares of Johnson & Johnson by 10.5% in the third quarter. Principal Financial Group Inc. now owns 3,472,312 shares of the company’s stock valued at $562,723,000 after acquiring an additional 329,473 shares in the last quarter. United Bank raised its holdings in shares of Johnson & Johnson by 5.6% in the 3rd quarter. United Bank now owns 3,788 shares of the company’s stock valued at $614,000 after purchasing an additional 202 shares in the last quarter. Algert Global LLC purchased a new stake in shares of Johnson & Johnson in the 3rd quarter worth approximately $721,000. Suvretta Capital Management LLC boosted its stake in shares of Johnson & Johnson by 53.7% during the third quarter. Suvretta Capital Management LLC now owns 138,447 shares of the company’s stock valued at $22,437,000 after purchasing an additional 48,350 shares in the last quarter. Finally, Isthmus Partners LLC boosted its position in shares of Johnson & Johnson by 1.8% in the 3rd quarter. Isthmus Partners LLC now owns 97,495 shares of the company’s stock worth $15,800,000 after purchasing an additional 1,765 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Robert J. Decker sold 6,999 shares of Johnson & Johnson stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the sale, the vice president now owns 21,001 shares of the company’s stock, valued at approximately $3,483,645.88. The trade was a 25.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Timothy Schmid sold 403 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total value of $62,928.45. Following the completion of the transaction, the executive vice president now owns 15,098 shares of the company’s stock, valued at $2,357,552.70. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Leerink Partners lowered their price target on Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Guggenheim reissued a “neutral” rating on shares of Johnson & Johnson in a research report on Monday, March 10th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 25th. Wells Fargo & Company dropped their price objective on shares of Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Finally, Raymond James lowered their price target on Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $171.33.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $163.63 on Friday. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. The company has a market cap of $394.32 billion, a P/E ratio of 24.61, a P/E/G ratio of 2.56 and a beta of 0.47. 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 company’s 50-day moving average price is $158.68 and its 200-day moving average price is $156.21.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $22.44 billion. During the same period in the previous year, the firm posted $2.29 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, sell-side analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a dividend of $1.24 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $4.96 annualized dividend and a dividend yield of 3.03%. Johnson & Johnson’s dividend payout ratio is presently 74.59%.

Johnson & Johnson Company 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.